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Venus Metals Corporation Limited (“Venus” or the “Company”) is pleased to announce the results of recent field work and geochemical sampling following the delineation of multiple priority REE targets at Mangaroon North, based on remote-sensing and radiometric data (refer ASX release 5 September 2022). Evaluation of the multiple remaining REE targets will be conducted as part of the next stage of field work.
Highlights:
- High-priority REE target area confirmed in E08/3229.
- REE anomalies associated with ironstone (Figure 1) identified in areas of cover @ 1848 ppm TREO with 355 ppm Nd2O3 ∼1 km west off the Edmund Fault.
- Collected 299 soil and 84 rock chip samples, and re-analysed 66 previous soil samples for a full REE suite with up to 2136 ppm TREO* and 232 ppm Nd2O3 , and 1848 ppm TREO with 355 ppm Nd2O3 in the most recent sampling suggest the presence of REE-enriched ironstones along a ∼7 km long northwest trend.
- Soil samples in Pooranoo Metamorphics contain up to 1420 ppm TREO.
- High-priority REE target area delineated in E09/2422.
- Airborne Magnetic surveys completed in E09/2422 in December 2022 and to be flown in E09/2541 prior to planned field reconnaissance and follow-up work.
Figure 1. Ironstone outcrop in E08/3229
Current work – field reconnaissance
The recent reconnaissance field sampling program was completed to test and evaluate high-priority REE targets with emphasis on radiometric thorium (Th) and remote-sensed data band ratio anomalies (refer ASX release 5 September 2022). Selected geochemical results and TREO calculation can be found in Tables 1 and 2. REE-enriched bedrock associated with several Th radiometric anomalies along a ∼7 km long northwest trend in E08/3229 contain up to 2136 ppm TREO* with 232 ppm Nd2O3 in reanalysed ultrafine soil from previous sampling (refer ASX release 21 December 2021) and 1848 ppm TREO with 355 ppm Nd2O3 in the most recent sampling. A TREO anomaly located in the south of E09/2422 has a maximum of 732 ppm TREO with 130 ppm Nd2O3. Both target areas will be further explored for potential (ferro-) carbonatite mineralisation.
Ironstone outcrops have been identified at several targets in E08/3229 and E09/2422 (Figures 4 and 5). In some areas, sedimentary lithologies have been ferruginised, whereas in others veins of ironstone breccia crosscut Pimbyana Granite, Poorannoo Metamorphics, or sedimentary rocks of the Edmund Group (Figure 4).
Systematic grid sampling followed by aircore/reverse circulation drilling is planned across selected target areas. The evaluation of multiple other targets identified by RSC (refer ASX release 5 September 2022) is scheduled to recommence in the coming field season.
Click here for the full ASX Release
This article includes content from Venus Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
VMC:AU
AM Resources Identifies 26 New Pegmatites for a Total of 187 Pegmatites on its 1,500 km² Land Package in Austria
First Group
The Company has identified 8 large pegmatites with lengths varying between 329 metres and 887 metres, with the most extensive pegmatite measuring an impressive 281 metres in width.
Second Group
An additional 18 pegmatites ranging from 102 metres to 560 metres in length were discovered, with the thickest pegmatite reaching 195 metres in width. This group's diversity in size and shape adds to the prospectivity of AM Resources’ holdings. Many of these pegmatites are located within mica schists, a geological setting favorable for the presence of lithium-bearing minerals.
David Grondin, CEO of AM Resources commented: “Since the acquisition, we've been compiling the data available to us in preparation for our upcoming exploration program scheduled for June. We are very pleased with the number and size of the pegmatites found so far. Once we finish compiling the data, we'll have a better picture of the work that needs to be done to fully evaluate the lithium potential of our properties.”
Location, Location, Location
As previously reported, the AM Resources team has been actively assembling a massive prospective land package with four key elements at the core of its strategy: proven geology, proximity to key markets, historical expertise, and a clear, proven mining code. AM Resources’ Austrian properties are located within 620 km of 14 planned battery plants and have direct access to an extensive rail system.
Qualified Person
Technical information related in this news release has been reviewed and verified by Jean Lafleur, P. Geo., of PJLEXPL Inc., a registered geologist with the Ordre des Géologues du Québec (OGQ #833) and is a qualified person (QP) as defined by NI 43-101. Mr. Lafleur is independent from the Company and has reviewed and approved the disclosure of the AM Resources geological information.
About AM Resources
AM Resources Corporation (TSXV: AMR) is a dynamic junior mining company focused on the exploration and development of high-potential pegmatite deposits. With a strategic portfolio of assets and a commitment to responsible resource development, the Company is dedicated to creating long-term value for its stakeholders while adhering to the highest standards of corporate governance and sustainability.
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of AM Resources to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. AM Resources does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
David Grondin
AM Resources Corporation
President and Chief Executive Officer
1-514-583-3490
Large New Lithium and Gold Anomalies Identified Over Highly - Prospective Cave Hill Greenstone Belts
- Highly-anomalous lithium and gold targets identified from soil sampling across the Company’s extensive 700 square kilometres (sq.km) Cave Hill Project tenements in WA’s world-class Eastern Goldfields gold, nickel and lithium province (see Figure 1).
- The largest new lithium anomaly, located in the southern part of E15/1844 (Figure 1), is over 5km x 5km and is associated with a northeast-trending fault corridor intersecting an extensive buried greenstone corridor identified from magnetic imagery (Figure 2). This is a similar setting to other high-grade lithium deposits in the region, including the Kangaroo Hills discovery which has produced lithium-spodumene intersections of up to 29m @ 1.36% Li2O1, and the Mt Marion Project which has a large Mineral Resource of 71.3Mt @ 1.37% Li2O2 (see Figure 1).
- Several highly-anomalous gold results also produced from this broad 400m x 400m sampling program, including values of up to 32ppb Au - more than 10 times background in this soil covered area (see Figure 3).
- This extensive and highly prospective >100km strike-length greenstone corridor remains virtually untested and is a continuation of the belt which hosts the Kangaroo Hills lithium discovery1, the 2.8Moz2 Coolgardie Goldfield and the Nepean Nickel Mine (1.1Mt at 3.0% Ni produced3) (Figure 1).
- Extensive infill and extension soil sampling is set to commence to better define targeting for an initial aircore drilling program, to be followed by RC and/or diamond drilling to test for lithium-bearing pegmatites in bedrock and/or greenstone-hosted gold deposits.
SABRE RESOURCES CEO JON DUGDALE COMMENTED:
“The large lithium and gold soil anomalies we have identified across our extensive Cave Hill tenements indicate that the large, untested, greenstone corridor discovered within the project is highly-prospective for lithium-bearing pegmatites, as well as gold deposits.
“The Company will immediately commence infill sampling, and new sampling programs on other recently granted tenements, to define aircore drilling targets for lithium and gold deposits in the underlying greenstone lithologies.
“The Company has over 100km of strike of granted tenements over this newly identified greenstone corridor. The corridor is along strike and parallel to other greenstone belts which host major lithium, gold and nickel deposits in the region, such as the Mt Marion lithium deposit, the 2.8Moz Coolgardie Goldfield and the Nepean nickel mine. The only difference appears to be that the Cave Hill greenstone corridor is under shallow cover, which is why it has remained largely un-explored.
“We look forward to further defining these highly-anomalous lithium and gold zones and testing the bedrock potential for new lithium, gold and nickel sulphide discoveries”.
Figure 1: Cave Hill Project tenements on aeromagnetics with new lithium anomalies and other lithium deposits
The results have been received from a further 876 auger soil samples collected on a 400m x 400m grid, mostly from the largest and most prospective tenement, E15/1844 (see Figure 1). An extensive greenstone belt has been identified from magnetics within this tenement and a series of northeast-trending faults are interpreted to intersect the soil-covered greenstone lithologies, which could host lithium-bearing pegmatites (see Figure 2 below).
Click here for the full ASX Release
This article includes content from Sabre Resources Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.