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Venus’ Marvel Loch East Rare Earth and Base Metals Project is comprised of one granted exploration licence (E15/1796) and four applications (ELAs 15/1944, 15/1946, 15/1947 and 77/2721) for a total area of 283 blocks. (828 km2). The project is considered to be prospective for rare earth and base metals mineralisation.

A high-resolution aeromagnetic survey was commissioned over a portion of the project tenements in early 2023 (VMC ASX Release 27 January 2023). Examination of the survey results to the available government gravity displayed a 2km x 2km gravity anomaly semi-coincident to a magnetic dyke. The E-W trending dyke is interpreted to be prospective for Ni-Cu mineralisation as has been reported along the Jimberlana Dyke. 

Venus has completed systematic soil sampling on E15/1796 at 400 x 400 m spacing for 273 samples and 100 x 100 m spaced infill sampling (319 samples) across one target area.

A total of 49 rock chip and laterite samples were taken to complement the soil survey. Anomalies in REE are defined in soil, laterite, and rock chips along the ~25 km strike length of the arcuate aeromagnetic high in the west and across an oval-shaped magnetic feature (~3 x 4 km) in the east of E15/1796. The arcuate and ovoid aeromagnetic highs within the granite terrain of E15/1796 are suggestive of a different bedrock type. The aeromagnetic features were previously interpreted as potential remnant greenstone. Historical GSWA rock-chip samples are characterised as monzogranite.

Soil samples (UltraFine™) contain up to 6,092 ppm TREO (total rare earth oxide), including 702 ppm Nd2O3 on and adjacent to Monzogranite bedrock which is enriched in rare earth elements (REEs) (refer ASX release 30 September 2022). Venus considers the REE-enriched bedrock as a potential REE source for residual enrichment within the regolith during weathering, a process that may have led to the formation of clay-hosted REE mineralisation. So far, only surface samples have been analysed, and there is scope for heavy REE (HREE) enrichment at depth in the weathering profile. Clay-hosted REE deposits may have higher HREE concentrations closer to the bedrock (Li et al., 2017).


marel loch east location

Location of Marvel Loch East Tenements on 250k Topo Map.