(ASX:VMC)
The $6.2 million micro capped Venus Metals hasn’t wasted any time in making good use of its 524km 2 tenement holding covering some of WA’s most prospective real estate.
While many of its peers in this richly veined region have an eye for gold, VMC has its eye on four key prospects with its Pincher Well zinc prospect at its Youanmi Project thus far the highlight.
Just last week, VMC announced highly promising results from its recent phase 2 IP survey.
These results indicate there is a substantial body of underexplored zinc mineralisation, with the target envelope now potentially covering a strike length of 1km and 250m in width.
VMC is now preparing the drill bit in order to advance towards the definition of mineral resource.
With zinc prices on an upward trend lately, it’s a good time to be exploring for a commodity that is expected to play a major role in the lithium-ion battery revolution.
It’s also a good time to have a lithium play that borders Talison’s high-profile Greenbushes Lithium Tantalum Mine – the world’s biggest lithium mine which is about to undergo a $320 million expansion that will more than double its capacity.
VMC has five lithium tenements with its Greenbushes East Lithium Project straddling Talison’s border.
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Of course gold isn’t completely off the table for VMC either, with The Bell Chambers’ Sandstone gold-copper project in WA already hosting a JORC Resource.
However, it is its zinc play that looks to be really hitting the mark at the moment and if VMC can push out a steady flow of results, we could see some serious share price catalysts in the next few months.