# VMC - Venus Metals Corporation



## System (10 September 2010)

Using structural targeting expertise, the focus of Venus Metals Corpoartion (VMC) is to explore for world-class mineral deposits. Twenty one multi-commodity exploration project targets are held within Western Australia and include iron ore, precious/base metals, diamonds, uranium and lithium.

http://www.venusmetals.com.au


----------



## springhill (27 July 2012)

MC - $14m
SP - 27c
Shares - 50m
Options - 4.3m
Cash - $3.9m

*• YALGOO IRON ORE PROJECT:*
Discussion continued with the company’s Chinese partners regarding future work programs to assist with commercializing the project.
Exploration continues with definition of further drilling targets to expand the resource base. A JORC compliant total Magnetite Mineral Resource of 698.1 Million Tonnes (being made up of an Indicated Resource of 311.2 Mt and Inferred Resource of 386.9 Mt) was estimated for YIOP (Please refer ASX Release: 26 August 2011).The Pre‐Feasibility Study conducted by ProMet Engineers Pty Ltd demonstrates that the project is technically viable and financially robust (refer ASX release 29 August 2011). A Mining Lease Application (MLA 59/742) has been submitted to Department of Mines and Petroleum covering Bilberatha Hill and additional magnetite mineral resource target areas within the tenement

*• ARGYLE SMOKE CREEK ALLUVIAL DIAMOND PROJECT:
*After economic and resource confidence consideration, with a cut‐off of 10 CPHT applied a JORC Inferred Diamond Resource has been estimated at 21.5 Mt at an average grade of 28 CPHT for a total of 6,000,000 carats.
 Processing of diamondiferous gravels commenced at the Argyle Smoke Creek Alluvial Diamond project. Approximately 1,600 tonnes of alluvial gravel was processed. A preliminary assessment of the diamonds that have been recovered to date by Leo Smans (former Rio Tinto diamond sorting & valuations expert) indicates, as expected, the overall quality of the diamonds recovered is better than Argyle Diamonds Run of Mine production. Weights of diamonds recovered will be reported after acid cleaning has been completed.

*• TELFER NORTH SUPER PROJECT:* 
Principal exploration targets identified to date within the TNSP comprise:
• The Radi Hills gold/IOCG structural target (5 mGal gravity anomaly)
• The Mt Morris IOCG target, a large coincident magnetic and gravity high
• The Citadel doubly‐plunging anticline gold target (a “Telfer Dome” look‐alike)
Department of Mines and Petroleum hasawarded two grants totaling $350,000 for drilling at Radi Hills ($200,000) and Citadel ($150,000) projects under WA Government EIS (Exploration Incentive Scheme) Co‐funded Exploration Drilling Programme. The drill plan is in progress. Re‐assaying of selected RC/diamond composite samples at Genalysis Lab, Perth gave elevated Tungsten (W) values up to 500ppm (214‐220m) confirming the previous assay results from SGS (please refer ASX release 6th Sep 2011)

*• MOODINI PROJECT:* 
In collaboration with Department of Mines and
Petroleum for conducting detailed Hylogger studies, the half cut diamond Core samples of drill holes MORCD001 and MORCD002 were submitted to the Department. The scanning of diamond cores using Hylogger is completed and we await the interpretations of the data and results.

*• COPPER HILLS PROJECT:* 
Delineation of potential targets based on the historical exploration studies.
Very high grade values with peak results of 2,376g/t Au, 3,424 g/t Pt, 4,904g/t Pd, 1,387g/t Ag and 20.9% Cu have been recorded from previous rock chip sampling of copper mineralised outcrops at the main Precious Metals Prospect. Whilst the very high grade values come from a small vein‐type exposure of limited extent, it is reported that secondary copper minerals occur over a semi‐continuous strike length of approximately two kilometres (please refer ASX release 21 December 2011).
Drilling programs by previous explorers have been unable to establish any depth extent to these remarkably high precious metal values. However, the petrographic studies indicate the mineralisation is the result of primary hydrothermal processes, with secondary enrichments. This indicates that potential does exist for the values to extend to depth and further exploration is warranted.


----------



## greggles (29 June 2018)

Venus Metals Corporation has announced that the total JORC 2012 Compliant Resource Estimate for the Youanmi Gold Mine in WA has now increased significantly to 1,190,600 ounces of gold. The mine consists of a number of separate pits and the company is planning to drill test near surface targets as soon as practicable to evaluate the viability of a super-pit open-cut concept. 

The news has given the share price a nice lift this morning, up 19.23% to 15.5c.


----------



## greggles (5 September 2018)

Breakout today for Venus Metals Corporation following an announcement reporting that unique oxide vanadium ores have been identified at the company's Youanmi Vanadium Project.

I'm having a bit of a hard time wrapping my head around the details of the announcement so I'll just post the highlights from the announcement itself:






The announcement certainly got people excited early in the day, although the excitement wore off a little later in the afternoon and after reaching an intraday high of 23c, VMC finished the day at 18.5c, half a cent off its lows.


----------



## frugal.rock (1 July 2020)

frugal.rock said:


> Just announced.
> Go @myrtie100 !
> 
> High gold recoveries from
> ...



Posted in RXL (Rox Resources) thread.


----------



## finicky (2 October 2020)

Graphic below showing how, between them, VMC and RXL in joint venture have completely surrounded the high grade Penny West mine being developed by Ramelius Resources (RMS). They've been getting good gold hits only 6 kms north of Penny West, same rock types. 

They are also building the resource at the old Youanmi Gold Mine to relaunch it - that's 26 kms from Penny West. This is a mine that was shuttered in 1997 due to the $400/oz gold price back then - nothing done since.   From the recent annual report here they mention the recent hits they are getting at the Grace prospect right next to the old open pit: 

_"Exciting new discoveries at the Youanmi Gold Mine have been made at the Grace prospect in footwall granites where very high grades of free milling gold have been intersected, including *25m @34.7g/t* Au from 143m (RXRC 287) and *13m @ 60.49g/t *Au from 177m, including 4m @ 191.56g/t Au from 181m (RXRC 239)"_

There is also strong prospectivity to the north of old Youanmi gold mine, VMC 'owns' 70 kms of the 150 kms shear zone causally associated with Penny West and old Youanmi Gold Mine.
More later probably after I try to grok it better.

Held, trying to get a few more filled at a lower price than current.

Tenements surrounding Penny West


----------



## frugal.rock (2 October 2020)

Very observant, good job fin.

(FWIW, I think I saw a Youanmi mention attached to another company announcement... can't remember which, but not RXL.
Maybe BCN, Sabre and or GTE)


----------



## finicky (3 October 2020)

I followed up one of those mentions @frugal.rock. 
Referring back to the VMC tenements map in my *prior* post. I hadn't had the curiosity to find out what was the tenement coloured grey, enclosing Penny West, extending SSW and described as 'others tenements' . A big chunk of it belongs to Sabre *(SBR)* so it looks like the VMC/RXL alliance doesn't have it all sewn up around Penny West as I claimed. SBR has found differing aero magnetic responses associated with sets of intersecting northwest and northeast trending faults. Faults like these - with the NW ones 'splaying" off the major Youanmi-PennyWest North South shear fault - appear to be associated with rich gold deposits like Penny West/Penny West North in the region.

They are intending a round of aircore drilling and another low flying helicopter aeromag survey to the SW of this first one. Whatever's undercover has no outcrop, they don't know the rock type underneath and it has never been drilled before they say. So early stage prospect.

All just my struggling synopsis of the announcement. 

This prospect is *so* close to Penny West North:
"the northeast corner of E57/1125 is approximately 500m from the tenement boundary of Ramelius Resources Ltd and *800m* from the Penny North discovery"

Not held. This terrane looks hot! 






SBR Decade Monthly. Prospective chart


----------



## frugal.rock (3 October 2020)

Ok, so now you are sabre rattling as well, eh?
I don't know what happened to SPX, guess I have a look...


----------



## finicky (3 October 2020)

Spectrum (SPX) was taken over by Ramelius which is going to develop Penny West North into a mine and of course explore the rest of the tenement.

I've just started looking into Sabre Resources (SBR) and I am getting increasingly turned off. Mostly it is the smallish cash they hold and the snowballing inflation of their share issuance at lesser and lesser prices. The last was @ 0.0025 (1/4 of a cent) with a free attached .008 option. Currently it looks as though if all options were exercised the total shares would be 2,275,000,000. Also it looks as though the 3 man non executive board don't hold a single share in the company. They don't pay themselves much at least, unlike the m.d of VMC who gives himself an annual package of $350k according to one source. From SBR's website the executive management dont rate a mention, unless I missed it, so I don't know yet who the CEO is, if there is one. SBR not passing the sniff test so far.


----------



## finicky (1 July 2021)

Got my doubts about VMC and its M.D but when the fuss was made yesterday over the VMS (Venture Minerals) 'Thor' prospect and its tie up with Chalice (CHN) I finally remembered which company has a chunk of Thor. It is this company, VMC, and it owns the 100% owned north-east 2.5km chunky tip that you can see in the EM signature comparing it with CHN's Julimar Complex.






It was discussed by VMC December 7 2020:

BRIDGETOWN EAST Ni‐Cu‐PGE PROJECT
‘Julimar lookalike’ TARGET

EXPLORATION UPDATE  
HIGHLIGHTS:

 Pt‐Pd‐Cu anomalies identified by recent reconnaissance sampling
 Ground EM surveys planned over high‐priority targets for follow‐
up drilling asap
 Technical review of historical data and HEM interpretation
continuing
 Liaising with landowners and local community  

Venus Metals Corporation Limited (“Venus” or the “Company”) is pleased
to provide an update on its 100% owned Bridgetown East Ni‐Cu‐PGE
Project (E70/5315 and E70/5316) following initial fieldwork and targeting.

The project covers the northern part of the ‘*Julimar lookalike’ Ni‐Cu‐PGE
target*, a ~20km long interpreted mafic‐ultramafic complex with a strong
magnetic signature (Chalice ASX release 21 July 2020) (Figure 1) and EM
(electromagnetic) anomalies that may indicate bedrock‐hosted sulphide
mineralization.    

The prospectivity of the area has been demonstrated by the recently announced JV between Chalice Gold Mines (ASX: CHN) and *Venture Minerals (ASX: VMS)* to test for Julimar‐style mineralisation over Venture’s South West Project, covering the Thor prospect which intersected 2.4m of massive sulfide averaging 0.5% Cu with 0.05% Ni, 0.04% Co and anomalous Au & Pd (VMS and CHN ASX releases 21 July 2020).

Disc:
VMC Held


----------

