Cash and Cash Equivalents
Venus Metals is a West Australian-based company focusing on gold, lithium, and base metals exploration. The Company aims to increase shareholder value through targeted exploration success on its projects.
Youanmi Gold Project is the Company’s major gold project, located 500km northeast 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 are 3 million ounces of gold.
Henderson Lithium Gold Nickel Project comprises five exploration licences covering an approximately 800 km2 area along the central section of the Mt Ida/Ularring Greenstone Belt, 50km northwest of Menzies in the Eastern Goldfields of Western Australia. Historically, the Mt Ida/Ularring Greenstone Belt has been known to contain Lepidolite-rich lithium pegmatites but interest in the area as a target for hard rock lithium exploration has increased significantly following recent announcements by Red Dirt Metals (ASX: RDT) of substantial intersections of spodumene-bearing lithium pegmatites at their Mt Ida Project, located directly north from and abutting VMC tenement E30/520
Greenbushes East Project A broad potassic rich area (>9 km2) has been identified from regional radiometric data and is located southeast of Talison Lithium’s world-class Greenbushes Lithium-Tantalum mine. Venus Metals holds four exploration licences (E70/5315, E70/5316, E70/5712, E70/5620) and two exploration licence applications (ELA 70/6009, ELA 70/5675) totalling 400 square kilometres near Greenbushes / Bridgetown, South West Region of Western Australia. Venus Metals lithium exploration work will focus on the westernmost part of E70/5315 that abuts the Talison Lithium Greenbushes Mining leases, in an attempt to delineate potential mineralized zones along interpreted structures and dykes from the Greenbushes Li Mine into Venus’ tenement.
Ni - Cu - PGE
Bridgetown East Ni - Cu - PGE Project Venus Metals holds four exploration licences (E70/5315, E70/5316, E70/5712, E70/5620) and two exploration licence applications (ELA 70/6009, ELA 70/5675) totalling 400 square kilometres near Bridgetown, South West Region of Western Australia. Bridgetown East Ni‐Cu‐PGE project tenement E70/5315 includes the prospective north‐eastern part of the “ ‘Julimar lookalike’ Ni‐Cu‐PGE target: a ~20km long interpreted mafic‐ultramafic complex with a strong magnetic signature and massive sulphide occurrence (the Thor Target) by Chalice Mining Ltd” (ASX: CHN release 21 July 2020).
Yangibana North Rare Earths Project Venus Metals has 343 square kilometres of exploration ground prospective for rare earth, nickel, copper, platinum group elements and gold in the renowned Gascoyne region of Western Australia. The Hastings Technology Metals Ltd (ASX: HAS) Yangibana rare earth (REE) Project contains a rare earth (REE) resource totalling 21Mt and is located approximately 50 km east southeast of Venus’ Mangaroon North tenements E09/2422 and E 08/3229 and, and is 10km south of Venus’ ELA 09/2541 Yangibana North Rare Earths Project.
Youanmi Vanadium Deposit has a JORC 2012 Vanadium Oxidemeasured, indicated and inferred resource of 134.73 mt grading 0.34% V205, 6.27% TiO2 and 21.33% Fe and containing 458,900 tonnes (approximately 1,011,415,600 lbs) of V205 (Vanadium Pentoxide) (refer ASX release dated 20 March 2019). Youanmi Vanadium deposit is located on the exploration licence 57/986 198.5 km2and approximately 40km southeast of the very substantial vanadium deposit at Windimurra. The Youanmi Vanadium deposit has good access to major infrastructures such as gas pipelines, roads and port facilities. Venus holds a 90% interest and the prospector holds a 10% interest in this tenement.
Mr Matt Hogan
Matt has a proven track record. Matt was formerly an Executive Director and Chief Executive Officer of United Minerals Corporation NL (UMC), which successfully discovered the Railway Iron Ore DSO deposit in the Central Pilbara. In February 2010, UMC was acquired by BHP Billiton for AUD$204 million.
Mr Hogan was instrumental in the ASX listing of Iron Ore Holdings Limited (IOH). IOH achieved a market capitalisation of over AUS $200 million, and BC Iron Limited ultimately acquired that Company for AUS $250 million. Mr Hogan was employed by the IOH and assisted the Board and management in that particular role.