Venus Metals Corporation Limited (ASX: VMC) exploration licence E57/983 is located in the Mid West Region of Western Australia, approximately 20 km southwest of the Youanmi gold mine. The company is exploring lithium mineralisation on this exploration licence.
The Youanmi region is known to contain a belt of pegmatites.
Historical reconnaissance mapping in the area notes the presence of outcropping and sub-cropping pegmatites carrying notable lepidolite mineralisation.
A preliminary review of the assay results confirms multiple lepidolite-bearing pegmatites at Youanmi with indications of stronger concentrations of lithium mineralisation than suggested by the geological logging, (ASX: VMC announcement 20.12.2018)
Assay results from its maiden reverse circulation (“RC”) drilling program (ASX:VMC announcement 30.10.2018)
Multiple lepidolite-bearing pegmatites were intersected in two main clusters, at Target 1 and Target 2.
These pegmatites are generally 2 m - 5 m in thickness and can be seen to hicken up to 11 m in zones of structural complexity. Lepidolite content is estimated to range from 5% to 15%, with localised intervals up to 30% in some cases, with commensurately higher Li2O grades.
The main pegmatite at Target 1 extends for over 250 m, carries from 5% to 30% lepidolite and grades between 0.40% and 0.60% Li2O. A number of sub-parallel thinner pegmatites are yet to be drilled.
Target 2 contains a cluster of pegmatites over a 300 m x 200 m area. Some are persistent along strike, and others appear to pinch and swell up to 11 m as seen in drill hole.
These encouraging results have led to a follow-up drilling program being planned, which will test both Targets to ascertain the geometry and resource potential of the pegmatites.