Venus Metals

Venus Metals and IGO have inked a binding agreement for exploration – and possibly development and extraction – at the pair’s Henderson nickel-lithium project in Western Australia’s Eastern Goldfields region. The deal involves a farm-in and joint venture (JV) in which a subsidiary of IGO can progressively acquire up to a 70 per cent interest in the project by spending $4 million on exploration and reimbursing Venus with $1 million.

Venus Metals has its drill bit spinning again, this time at its historical Bellchambers gold deposit, part of the company’s Sandstone project in the WA Goldfields. The campaign follows up a 2020 exploration program that delivered a substantial increase in Bellchambers’ JORC-compliant indicated mineral resource. The new work will target structurally controlled gold mineralisation and will test the depth continuation of mineralisation.

Venus Metals has received encouraging assays from ongoing geochemical surveys at its Youanmi lithium project in WA’s Murchison region including highlighting a new target at the company’s Manindi North prospect. The explorer says it received assays of rock chip samples from sub-cropping pegmatites in the area with results of up to 2.11 per cent lithium oxide. Venus Metals is set to embark on a drill campaign at its Youanmi lithium project in the Murchison region of WA.