Venus Metals
Projects

1.0 Introduction

Venus Metals Corporation Limited (‘Venus Metals’) has two strategic exploration licences in the Greenbushes region of Western Australia. These tenements are located adjacent to, and east of, the world-class Greenbushes Lithium-Tantalum mine. The tenement areas contain outcropping pegmatitic stratigraphy, the host rock for lithium-tantalum mineralisation in the region.

The region hosts Talison Lithium’s world-class Greenbushes Lithium-Tantalum mine, with other tenement holders in region including Lithium Australia NL (ASX: LIT) and Metalicity (ASX: MCT) – Figure 1.

GREENBUSHES LITHIUM TANTALUM PROJECT 1

Figure 1 – Greenbushes East tenement areas E70/4810 & 4814 (red) with prospect locations over regional geology. The Greenbushes mine area is shown in green, Metalicity applications area in blue whilst Lithium Australia’s applications are in yellow.

2.0 Greenbushes Lithium-Tantalum Project – Update

An evaluation of Venus Metals Greenbushes project has delineated a number of priority targets within the tenement area. Exploration data shows two initial targets to be followed up, specifically the Greenbushes East and Northeast targets.

2.1 Greenbushes East

The Greenbushes East target was delineated utilising the regional geophysical and geological data sets. The radiometrics show a zone of potassic enrichment (not dissimilar to the Greenbushes mine itself) and is indicative of underlying intrusive stratigraphy, with mapped pegmatites in the area (Figures 2 and 3). Mining at Greenbushes has enhanced the radiometric signature of the mine, whilst shallow alluvial and lateritic cover results in a subdued signature at Greenbushes East.

This zone of enrichment covers over 6,000 metres of strike and represents a substantial target for ongoing exploration.

GREENBUSHES LITHIUM TANTALUM PROJECT 2

Figure 2 – Greenbushes mine site (yellow), with the Greenbushes East (red) and Northeast (orange) targets over airborne radiometrics. The potassic signature of the Greenbushes mine is enhanced by mining and exposure of the underlying mineralisation on the site.

GREENBUSHES LITHIUM TANTALUM PROJECT 3

Figure 3. The Greenbushes East radiometric target shows a similar geophysical signature to the nearby Greenbushes mine site.

2.2 Greenbushes Northeast

The Greenbushes Northeast target lies in the north of Venus metal’s ELA70/4810 (Figure 3). The target here are ‘placer deposits’ of near surface alluvial tantalum-lithium-tin mineralisation that may have been deposited in old river channels feeding off the surrounding topography, including what is now the Greenbushes mine site.

Globally, placer deposits are of significant economic importance due to their nature. They often host near surface concentrations of important minerals, such as tantalum-lithium, tin and gold. These deposits are typically easily mined and processed, making development attractive to mineral producers.

The Greenbushes Northeast target covers over 3,000 metres of strike was initially identified through exploration in 20081; it has yet to be properly assessed.

3.0 Conclusion

A detailed evaluation of the Greenbushes lithium project area continues with ongoing studies further delineating and defining targets for future exploration in this ‘world-class’ mineral province.

Venus Metals looks forward to further updating shareholders as exploration commences at Greenbushes.

Bibliography

1. WAMEX Report A100890, Partial Surrender Report, E 70/3407, OneMet Minerals Ltd, 2014.