Venus Metals Corporation Limited (VMC.AX) Copper Hills Highly Prospective Circular Magnetic Targets
Venus Metals Corporation Limited (ASX:VMC) is pleased to announce the granting of tenement E45-6437 (Copper Hills) located in the highly prospective Paterson Orogen, host to the world-class Telfer Au - Cu mine. The Paterson Orogen has attracted considerable exploration attention following significant new discoveries including the Winu Cu-Au deposit (608 Mt @ 0.4% Cu, 0.3 g/t Au; 2022) and the Havieron Au-Cu deposit (92 Mt@ 1.9g/t Au:2022). The Copper Hills tenement is located in the relatively under-explored southern sector of the Orogen (Figure 1*) which in addition to Copper-Gold is also considered to be prospective for Uranium mineralisation.
- Core Geophysics Consultants were engaged to review the previous geophysical surveys at the Copper Hills Project (E45/6437), including compilation and processing of available open file airborne surveys.
- Three-dimensional magnetic inversion modelling has been completed by Core Geophysics over two magnetic features of interest within the south east of the Copper Hills Project (Anomalies 1-2) (Figure 2*)
- Anomaly 1 is visible as an ovoid shaped magnetic ring with an extent of 1.3km, interpreted to represent a potential intrusive with magnetic aureole (located at depth of 100m beneath recent cover, extending to considerable depth 800m), prospective for magmatic/ hydrothermal Cu-Au/Mo mineralisation.
- Historical exploration has identified numerous potential prospect areas in the northern part of the tenement with rock chip assay results up to 48.9% Cu (Wamex report A105133).The southern and SE parts of the tenement is underexplored.
Project background:
The Copper Hills Project E45/6437 (221.4 km2) is in the southern section of the Palaeo- to NeoProterozoic Paterson Orogen in Western Australia. The area covers Palaeo-proterozoic metasediments of the Tabletop Terrane within the Rudall Metamorphics and is in close proximity to the Camel-Tabletop Fault Zone, a major crustal-scale structure that has been interpreted as the collisional boundary between the Tabletop Terrane and the western Talbot and Connaughton Terranes of the Rudall Complex. The Paterson Orogen hosts a number of atypical, 'world-class' mineral deposits/mines including the Kintyre Uranium deposit , the Nifty Copper Mine, the Telfer gold mine, the Winu Copper-Gold deposit and the Havieron Gold-Copper deposit.
Review of historical data identified numerous potential prospect areas. Historical rock chip assay results of 2376 gpt Au, 3424 gpt Pt, 4904 gpt Pd, 1387gpt Ag and 20.9% Cu have been recorded from sampling of mineralised outcrops at the main PM Prospect and it is reported that secondary copper minerals occur over a semi-continuous strike length of more than two kilometres (refer Wamex report A42764). The rock chip samples, from old pits and trenches over a 1km strike has given very high Copper and Silver grades. The sample assays average 14.1% Cu and 26.6g/t Ag, with peak values of 48.9% Cu and 115g/t Ag (refer Wamex report A105133).
The Copper Hills Project has undergone sporadic levels of exploration since the early 1970's where several prospects have been defined via mapping, geochemistry, geophysics and drilling with the most notable being Copper Hills/PM and Gazza/ Black Forest.
Review of recent and historical geophysical surveys highlight: -
- Untested AEM/FLEM plate models south west of PM Prospect
- Structures evident in AMAG controlling mineralisation.
- Untested AEM anomalies present to west of Gazza and in the central south.
- Copper Hills trend as highly chargeable, other trends evident to south west.
- Gravity delineating shear zone/structure associated with Copper Hills trend.
- Cover appears relatively thin to south east of project.
- Ultramafic rocks interpreted in south of project prospective for Cu-Ni-PGE.
Three-dimensional magnetic inversion modelling has been completed in order to improve existing geological models, aid better interpretation of structure and lithology, and assist in planning of follow up works, over two magnetic features of interest within the southeast of the Copper Hills Project using open file 1986 Canning Aeromagnetic survey data (flown by CRA Exploration A55579 100m line spacing at an altitude of 70m) (Figures 3a-3c*).
The Anomaly 1 feature visible as an ovoid shaped magnetic ring with an extent of 1.3km, interpreted to represent a potential intrusive with magnetic aureole (located at depth of 100m beneath recent cover, extending to considerable depth 800m) which may represent intrusives or potential sources prospective for magmatic/hydrothermal Cu-Au/Mo mineralisation.
Anomaly 2 is visible as a circular magnetic feature approximately 900m in diameter and has a more diffuse surrounding magnetic ring which may be a combination of lateritic material in a palaeodrainage and recent cover. 3D modelling suggest a shallow depth (50m) to the magnetic ring with depth extent for several hundreds of metres.
With the approval of the tenement, The Company is planning a program to test the anomaly 1 and 2 areas by drilling when further exploration has identified the most prospective drill targets.
*To view tables and figures, please visit:
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Matt Hogan Managing Director Venus Metals Corporation Limited Tel: +61 8 9321 7541 Lucas Robinson Investor Relations Tel: +61 408 228 889 lucas@corporatestorytime.com
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