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Quarterly Report
Quarterly Report
Perth, Oct 29, 2018 AEST (ABN Newswire) - Venus Metals Corporation Limited (ASX:VMC) provides the Company's Quarterly Report for the period ending 30th September 2018.

Venus Metals Corporation Limited's activities conducted during the quarter ending 30th September 2018 includes:

YOUANMI VANADIUM PROJECT: Major metallurgical breakthrough in regards to proof-ofconcept metallurgical leaching test work.

- A major breakthrough was achieved by proof-of-concept metallurgical leaching test work on oxide ores. The unique Youanmi vanadium oxide ore is characterized by high recoveries of vanadium (together with co-extraction of nickel, copper and cobalt) through simple atmospheric sulphuric acid leaching. This process makes bulk mining and acid leach processing an attractive development path for initial scoping study work.

- The initial beneficiation test work results confirm significant high-grade beneficiation of oxide samples with a grade increase from 0.58% V2O5 to 0.80% V2O5 and a recovery close to 80% of the vanadium.

- A 6000m RC drilling programme is scheduled to commence in November. This drilling together with historical data will provide information for the calculation of a measured resource, and will be an important step towards advancing to low-cost rapid vanadium production. The drilling will also provide material for advanced metallurgical testing.

GREENBUSHES EAST VMS PROJECT: Several HEM conductors identified

- An Xcite HEM survey flown by NRG at Venus' Greenbushes East project identified several EM conductors that coincide with magnetic anomalies. These targets show similarities with the Thor VMS-style discovery by Venture Minerals Ltd, located southwest and along strike.

- The EM anomalies identified by Venus occur proximal to anomalous historical Zn and Cu geochemistry and a historical gravity high.

YOUANMI LITHIUM PROJECT: Venus aligns with Lepidico Ltd (ASX:LPD)

Lepidico has completed 38 holes for 936m of RC drilling at 3 lepidolite targets in the northern half of E57/983. The drilling confirmed the presence of lepidolite-bearing pegmatites; assays are pending.

To view the full report, please visit:
http://abnnewswire.net/lnk/W7D81U37


About Venus Metals Corporation Limited

Venus Metals ASX:VMC

Venus Metals Corporation Limited (ASX:VMC) is a West Australian based Company with a focus on gold and base metals exploration. The Company aims to increase shareholder value through targeted exploration success on its projects.

The Company's major gold project is the Youanmi Gold Mine, located 500km north east of Perth. The Youanmi Gold Mine is now jointly owned by Venus Metals (30%) and Rox Resources Limited (70%) (OYG JV); Indicated and Inferred Resources of the mine is 1.7 million ounces of gold.

Exciting new discoveries at the Youanmi Gold Mine have been made at the Grace prospect in footwall granites where very high grades of free milling gold have been intersected, including 25m @34.7g/t Au from 143m (RXRC 287) and 13m @60.49 g/t from 181m (RXRC 239). The Grace Prospect may substantially add to the Youanmi Gold Mine resources.

 


Contact

Venus Metals Corporation Limited
Matthew Hogan
Managing Director
T: +61-8-9321-7541



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