A geochemical survey at Venus Metals Corporation’s Youanmi lithium project has backed up previous drilling, with the company hoping recently delineated lithium anomalies are an extension of the Manindi lithium discovery to the south that excited the market last month. Interestingly, the extensions appear to coincide with existing and known pegmatite outcrops.
The Youanmi lithium project is focusing on the Manindi North target in tenement E57/983 in WA’s Murchison where Venus and a former partner drilled with encouraging results in 2018, intersecting 12 metres at 0.68 per cent lithium oxide, 2m going 1.58 per cent lithium oxide and 4m grading 0.76 per cent lithium oxide.
With the surge in demand for battery minerals and the nearby lithium-caesium-tantalum, or ‘LCT’ discovery at Manindi by Metals Australia, the nearology is certainly encouraging for Venus as it hunts along strike at three recently defined LCT targets in the Manindi North cluster.
Using geochemical soil sampling, the company has mapped a 4km north-west trending zone containing lithium anomalies that it is planning to test with an RC drilling program following last month’s encouraging Manindi results.
Encouragingly for Venus, a recent rock chip sampling program carried out by Metals Australia returned results averaging 1.29 per cent lithium oxide, 0.51 per cent rubidium across the entire 500m pegmatite strike length and included results of up to 2.30 per cent lithium oxide and 0.70 per cent rubidium. Metals Australia quickly followed up with the drill bit which produced thick intersections of pegmatite with visible lithium-bearing minerals.
Assay results from the March drilling are still pending and could provide further guidance to Venus when drilling its 100 per cent owned Manindi North.
Previous high-grade lithium and tantalum RC drilling intersections included 8m going 1.06 per cent lithium oxide from 18m including 3m showing 1.65 per cent lithium oxide with up to 1.96 per cent lithium oxide.
The recent geochemical survey by Venus at Manindi North identified the three target anomalies under cover and west of the outcropping pegmatites. They are located outside the area where Venus’ 2018 drilling targeted which the company says may indicate the presence of LCT pegmatites that have not been mapped and tested in the past.
Whilst Venus continues with infill and regional soil geochem sampling, it also confirmed plans for an RC program to test potential lithium mineralisation beneath previous shallow drill intersections and further exploration for new geochemical anomalies under cover.
Metals Australia shares have doubled from around $0.08 since announcing the Manindi LCT results and Venus will no doubt be hoping to garner some similar support for its share price when it swings the drilling rig into action on Manindi North.
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