Venus Metals Corporation Limited (ASX:VMC) has confirmed that its partner IGO Limited has commenced ground exploration activities today at the Greenbushes East Exploration Project (Li and Ni-Cu-PGE) located adjacent to the Greenbushes Lithium Mine in Western Australia.
IGO, together with their lithium JV partner, Tianqi Lithium Corporation, hold a controlling interest in the adjoining Greenbushes Lithium Mine. VMC’s subsidiary has entered a binding transaction with a subsidiary.
Highlights
Geochemical Survey targeting lithium totalling 1350 soil samples Approximately 500 soil samples to be collected at 100m x 200m spacing and approximately 850 soil samples to be collected at 160m spacing. This survey will provide a project-wide framework for further targeting and will supplement previous geochemical surveys in specific target areas.
Ground EM Survey testing priority target for Ni-Cu-PGE sulphides
Two lines will be completed across a priority platinum-palladium-nickel- copper (Pt-Pd-Ni-Cu) target that was outlined by previous exploration carried out by VMC; completion of the ground EM survey is expected by mid-March 2023.
Ground Gravity Survey
Approximately 700 survey stations at 250m spacing across all granted tenements of the Project will assist with delineating geological structures and higher and lower-density bedrock, for example, mafic-ultramafic intrusions and rare metal pegmatites. The survey is estimated to be completed in March 2023.
VMC’s Greenbushes East Exploration Project comprises five granted tenements held by Venus Subsidiary, E70/5315, E70/5316, E70/5620, E70/5712 and E70/6009, and one exploration application, E70/5675 (VMC).
The VMC tenements are subject to a Farm-in and Joint Venture Agreement in which IGO Subsidiary can progressively acquire up to a 70% interest in the Greenbushes East Exploration Project by incurring A$6,000,000 of exploration expenditure on the Project.
For further information please visit: https://www.venusmetals.com.au/
