Venus to commence ground magnetics survey at Pincher Well

By Trevor Hoey. Published at May 29, 2017, in Small Caps

Venus Metals Corporation (ASX: VMC) has released details relating to second phase IP surveying conducted at its Pincher Well zinc prospect located in Western Australia. Lying 600 kilometres north-north-east of Perth the prospect forms part of the company’s Youanmi gold and base metal project.

Tenements E57/986 and E57/1019 hosting the trend are situated 15 kilometres south-west of the Youanmi gold mine and processing plant. Consequently, should VMC be able to progress the project there will be significant benefits from having access to nearby infrastructure.

Of course this is an early stage play and investors should seek professional financial advice if considering this stock for their portfolio.

The Pincher Dome Volcanogenic Massive Sulphide (VMS) trend covers more than 5 kilometres of strike and hosts a number of known zinc and copper prospects including the Linda and Franca Gossans, PW17 zinc discovery and a substantial body of zinc mineralisation at North Dome.

Recent reconnaissance drilling over the earlier IP anomaly confirmed the presence of significant thick and shallow ‘up dip’ extension of the known North Dome zinc-copper mineralisation.

Significant intercepts included 10 metres grading 7.3% zinc from 52 metres and 10 metres grading 5.1% zinc from 68 metres.

With these robust thicknesses and strong grades, the second phase of IP survey has been extremely insightful. The chargeability recorded in recent IP survey by comparison is stronger than the previous results and effectively extends the anomaly 400 metres to the south.

The modelled anomaly remains open and untested further to the south, potentially extending the target envelope of 1 kilometre strike and 250 metres in width.

A ground magnetic survey is commencing immediately to refine the targets with management extremely upbeat about what may materialise from these anomalies.

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S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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