Perth, July 11, 2016 AEST (ABN Newswire) - The Directors of Venus Metals Corporation Limited (ASX:VMC) are pleased to announce that the reconnaissance sampling on its Pilgangoora lithium-tantalum project area in Western Australia (Figure 1, see link below) demonstrates the presence of significant lithium mineralisation associated with previously unrecognised pegmatitic stratigraphy.

Recent reconnaissance surface sampling at Wodgina South has returned assays that are highly anomalous in lithium oxide (Li2O).

1.0 Introduction

Venus Metals Corporation Limited ('Venus Metals') has made applications for four tenements (ELA 45/4627. 4630, 4684 & P 45/3004) in the Pilgangoora region, within the Pilbara Craton of Western Australia.

These applications cover over 450 km2 and are located along strike from, or adjacent to, the mining operations at Wodgina Atlas Iron (ASX:AGO) in the south and the Pilbara Mineral's (ASX:PLS) developing operations at Pilgangoora, in the north. The tenement areas contain outcropping pegmatitic stratigraphy, the host rock for lithium-tantalum mineralisation in the region.

The Pilgangoora tenement areas will be explored as part of a memorandum of understanding ('MOU') between Venus Metals and Lithium Australia (ASX:LIT) 1,2 over the region. Recent reconnaissance exploration by Venus Metals is designed to identify targets to expedite exploration in the coming months and to evaluate the overall prospectivity to the project areas.

2.0 Pilgangoora Lithium-Tantalum Project - Update

In recent weeks a program of reconnaissance sampling and mapping has been undertaken through the Pilgangoora application areas in order to:

- Identify prospective pegmatitic stratigraphy and lithium mineralisation,

- Generate targets to expedite exploration following the grant of the tenement areas.

2.1 Wodgina South (ELA 45/4627 & P 45/3004)

Recent reconnaissance sampling across three identified target areas (Figure 4 - T 1, 2 & 3, see link below) has returned a significant number of surface samples hosting anomalous lithium oxide (Li2O) associated with pegmatites and their host stratigraphy.

Results include (Figure 4 & Appendix 1, see link below):

- W114 (T1) - 5296 ppm (0.53%) Li2O & 2997 ppm Rb

- W116 (T1) - 6179 ppm (0.62%) Li2O & 4564 ppm Rb

- W147 (T2) - 6567 ppm (0.66%) Li2O & 3134 ppm Rb

The T1, 2 & 3 targets at Wodgina South occur adjacent to and along strike from Metalicity's target areas within their Stannum project (ELA 45/4677)3,4, which abuts Venus Metals northern tenement boundary. Metalicity's target stratigraphy extends into Venus Metals tenement area, with mineralisation associated with spodumene in pegmatites (Figure 4).

The purpose of the current sampling program at Wodgina South is to highlight target areas for follow up surface and soil sampling in order to delineate areas for future drill testing. It is proposed that these areas of identified pegmatite-hosted lithium mineralisation, both in the Wodgina South and Pilgangoora tenements (Figures 1 & 4), be systematically tested with soil sampling by the Venus Metals/ Lithium Australia 'alliance' once the tenement areas are granted in the coming months.

A full schedule of results from the recently completed surface sampling is available in Appendix 1 of this report (See link below).

3.0 Conclusion

The ongoing 'on ground' evaluation of the Wodgina lithium project areas continues to define targets for future exploration in this developing lithium province.

Venus Metals looks forward to further updating shareholders as detailed exploration commences at Wodgina following the grant of the tenement areas in the coming months.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/GE8P3V46


About Venus Metals Corporation Limited

Venus Metals ASX:VMCVenus Metals Corporation Limited (ASX:VMC) is focused on the exploration and development of its Western Australian Base Metal projects, which are prospective for Copper and Zinc, as well as its precious & specialty metals.

 


Contact

Matthew Hogan
Managing Director
T: +61-8-9321-7541

Kumar Arunachalam
Executive Director
T: +61-8-9321-7541



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