Venus Metals Corporation has secured the mining lease for its Bellchambers gold deposit, unlocking the path toward advancing development with promising drilling results and planned resource updates.
- Mining lease M57/671 granted for Bellchambers gold deposit
- Resource totals 722,000 tonnes at 1.31 g/t Au for 30,500 ounces
- Recent drilling returned encouraging gold intercepts
- Metallurgical test work and diamond drilling underway
- Pit optimisation and mine design in progress with Kalgoorlie engineers
Mining Lease Grant Marks Key Milestone
Venus Metals Corporation has taken a significant step forward in its gold exploration journey with the granting of mining lease M57/671 over the Bellchambers deposit in Western Australia. This lease covers a substantial gold resource estimated at 30,500 ounces within 722,000 tonnes of ore grading 1.31 grams per tonne. The approval of this lease is a critical regulatory milestone that enables the company to progress from exploration to potential development.
Encouraging Drilling Results Bolster Prospects
Recent reverse circulation drilling at Bellchambers and the adjacent Range View prospect has yielded promising gold intercepts, including intervals such as 29 meters at 1.55 g/t and 30 meters at 1.72 g/t. These results reinforce the deposit’s potential and provide valuable data to refine resource estimates and guide future exploration efforts. The company has also completed two diamond drill holes to support metallurgical testing and geotechnical studies, essential for mine planning.
Advancing Towards Economic Viability
Venus Metals is moving swiftly to update its Mineral Resource Estimate, incorporating the latest drilling data. This updated model will underpin economic analyses aimed at defining the optimal open pit configuration. To this end, an experienced mining engineering team based in Kalgoorlie has been engaged to undertake pit optimisation, design, and site layout planning. Concurrently, the company is soliciting quotes to prepare a Mining Development and Closure Proposal, a prerequisite for final mining approvals.
Strategic Positioning in Western Australia’s Gold Belt
The Bellchambers project is strategically located near the historic gold mining town of Sandstone and within reach of other notable projects such as Rox Resources’ Youanmi Gold Project. Venus Metals’ broad portfolio across Western Australia, including interests in gold, copper, lithium, and other minerals, positions it well to leverage regional infrastructure and expertise as it advances Bellchambers.
Looking Ahead
While the mining lease grant is a pivotal achievement, the path to production involves further technical and regulatory steps. Metallurgical test work will clarify gold recovery rates, and economic studies will determine project viability. The company’s methodical approach and recent progress suggest Bellchambers could soon transition from a promising resource to a producing asset, potentially adding value for shareholders and stakeholders alike.
Bottom Line?
With the mining lease secured, Venus Metals is poised to translate exploration success into a viable gold mining operation.
Questions in the middle?
- What will the updated Mineral Resource Estimate reveal about the deposit’s size and grade?
- How will metallurgical test results impact projected gold recovery and project economics?
- What timeline is Venus Metals targeting for final mining approvals and potential production start?