Venus Metals has four tenements (E08/3229, E08/3375, E09/2422, and E09/2541) adjacent to Mangaroon-Yangibana rare earth (REE) mineralised zone. Venus’ E09/2541 abuts tenements by Hastings Technology Metals Ltd (Yangibana), Dreadnought Resources Ltd (Yin) and Lanthanein Resources Ltd. The other three ELs (E08/3229, E09/2422 and ELA08/3755) abuts Dreadnought’s tenure (Figures 2a & 2b).
Venus’ Mangaroon North project tenements are considered prospective for REE due to the following:
The same host lithologies as at Yin and Yangibana are present within Venus’ tenements with geological continuity from Yin and Yangibana along the regional northwest strike.
Figure 2b. Location of Venus Mangaroon Rare Earth Project Tenements E09/2541, E08/3229, E09/2422 and ELA08/3375 (in the name of Redscope Enterprises Pty Ltd, a wholly owned subsidiary of Venus Metals) and Dreadnought Resources (DRE) and Hastings Technology Metals (HAS) Lanthanein Resources (LNR) Tenure shown on regional geology map.
Figure 3. Priority target areas within E09/2541 and E09/2442, as illustrated on Aster ferric oxide and SENTINEL ferric oxide maps, respectively.
Figure 4. Priority target areas within ELA08/3375 and E08/3229 (inset) as illustrated on Aster ferrous iron and SENTINEL ferric oxide maps, respectively.
Linear and circular structures along major northwest-trending trans-lithospheric faults, including the Edmund Fault, intersect Venus’ tenements. These faults are interpreted to have acted as pathways for carbonatitic or ferro-carbonatitic melts or brine melts.
Proven ironstones in the carbonatite complex have distinct signatures in ASTER and Sentinel maps. Presence of ironstones and K, Th, and U anomalies in all Venus tenements. High-priority targets have anomalies (Figures 3–4) in multiple techniques (refer to ASX release 5 September 2022)
A reconnaissance field sampling program was completed in September 2022 to evaluate multiple targets with analyses in progress.