Venus Metals Corporation has gained a boost to exploration plans for its Marvel Loch East rare earths project after its subsidiary Redscope Enterprises scored a co-funded drilling grant from the WA Government.
The Exploration Incentive Scheme funding will contribute 50 per cent of the direct drilling and mobilisation costs, with Redscope successfully applying for a maximum amount of $157,500 to explore the project near the town of Southern Cross, in Western Australia’s Central Wheatbelt.
Just last month, Venus identified high-priority drill targets for clay-hosted and fresh-rock rare earths mineralisation within a 25km-long magnetic trend and a 2.5km-by-3km zoned magnetic anomaly, following a successful aeromagnetic and radiometric survey.
The co-funded drilling program will comprise air-core, diamond and RC programs aimed at testing rare earths-enriched monzogranite at depth and the potential for clay-hosted rare earths mineralisation near surface using the survey data for targeting.