Venus Metals Unveils High-Grade Gold Assays and Strategic Mining Lease Moves

Exploration Highlights at Henderson and Sandstone

Venus Metals Corporation has delivered a promising quarterly update for the period ending 31 December 2024, showcasing significant exploration progress across its diverse portfolio in Western Australia. The Henderson Gold Project continues to impress with rock chip assays returning up to 50.1 grams per tonne (g/t) gold from the Northern Line of workings at the Hilltop Target Area. These results reinforce the project's potential, especially given the historical Hilltop gold mine's legacy and the geological similarities to other high-grade quartz-hosted deposits in the region.

Meanwhile, at the Sandstone Gold Project, Venus has advanced its Bellchambers Deposit with a mining lease application covering 415 hectares. The deposit holds a JORC 2012 resource of 722,000 tonnes at 1.31 g/t gold, equating to approximately 30,500 ounces, with a substantial portion classified as indicated resources. The company is preparing for pit optimisation, additional drilling, and metallurgical testwork to confirm high gold recoveries, signaling a clear pathway towards potential open-pit mining operations.

Base Metals and Calcrete Developments at Youanmi

Exploration at the Youanmi Base Metals Project has seen six reverse circulation (RC) drill holes completed at the Pincher Well North Prospect, targeting geophysical anomalies and zinc mineralisation. Notably, one hole intersected 12 metres at 1.21% zinc, including a higher-grade 4-metre section at 2.13% zinc. Although groundwater conditions limited some drilling depths, plans are in place for diamond tail drilling to further test a significant conductor at 400 metres depth.

In parallel, the Yuinmery Calcrete Deposit has been delineated with a JORC-compliant mineral resource estimate of 273,743 tonnes, predominantly measured and indicated. The deposit is strategically located near the Youanmi Gold Project and could serve as a valuable source of calcium carbonate for acid neutralisation in gold processing circuits. Venus’s subsidiary, Redscope Enterprises, has applied for a mining lease to enable further feasibility studies and potential mining operations.

Copper Hills and Critical Minerals Innovation

The Copper Hills Cu-Au Project in the Paterson Province has yielded several copper geochemical anomalies from recent ultrafine soil sampling, warranting follow-up field investigations. This tenement lies within a highly prospective region known for world-class deposits such as Telfer and Havieron, positioning Venus to potentially capitalize on significant discoveries.

Venus is also progressing its Youanmi Vanadium-Titanium-Iron Project, which hosts a world-scale oxide resource of 134.7 million tonnes. The company is developing innovative hydrometallurgical processes to extract vanadium electrolyte for clean energy storage, with titanium and iron as valuable byproducts. This technology is supported by a provisional patent application and aligns with Venus’s participation in the Minerals to Megawatts CRC, focusing on critical renewable technologies.

Financial Position and Outlook

Financially, Venus Metals maintains a solid foundation with $12.4 million in cash and liquid investments, including a significant holding in Rox Resources Limited shares. The company generated net proceeds of over $730,000 from recent share sales, supporting ongoing exploration expenditure of $293,000 for the quarter. Payments to related parties were modest at $80,000, reflecting consultancy fees.

With multiple projects advancing through drilling, resource definition, and mining lease applications, Venus Metals is well-positioned to unlock value across its multi-commodity portfolio. The company’s strategic focus on both precious and critical minerals aligns with evolving market demands, particularly in renewable energy sectors.