Venus Metals Secures Mining Lease and Boosts Bellchambers Gold Prospects

Bellchambers Gold Project Advances

Venus Metals Corporation has taken a crucial step forward in developing its Sandstone (Bellchambers) Gold Project with the granting of mining lease M57/671. This lease covers the Bellchambers deposit, which currently holds a mineral resource estimate of approximately 30,500 ounces of gold at 1.31 grams per tonne. The lease approval marks a key regulatory milestone, enabling the company to progress towards potential mine development.

During the quarter ending 30 June 2025, Venus Metals completed 34 reverse circulation (RC) drill holes totaling 1,749 metres across Bellchambers and the adjacent Range View prospect. The drilling largely targeted areas within the existing resource envelope, confirming and refining known gold mineralisation zones. Significant intercepts included 30 metres at 1.72 g/t gold from 45 metres depth at Bellchambers and 18 metres at 1.24 g/t gold including a high-grade 1 metre at 11.5 g/t at Range View.

Supplementary Drilling and Metallurgical Work

Complementing the RC drilling, Venus Metals completed two diamond drill holes totaling 110.9 metres within the resource area. These cores will support supplementary testwork and geotechnical analysis, with assay results awaited. Additionally, metallurgical samples from the RC drilling have been submitted for detailed testing to assess gold recovery potential, an essential step towards evaluating the economic viability of mining operations.

Innovative Exploration with CSIRO Collaboration

In a notable development, Venus Metals has partnered with CSIRO under its Kick-Start Program to apply advanced hyperspectral imaging techniques at Bellchambers. This initiative integrates satellite, drill-hole, and surface-scale hyperspectral data to create a comprehensive three-dimensional understanding of the mineralising system. By enhancing the targeting of alteration minerals associated with gold and copper, this research could significantly improve exploration efficiency and resource delineation.

Youanmi Base Metals Progress

At the Youanmi Base Metals Project, the company completed a diamond drilling program at the Pincher Copper Project, supported by an Environmental Impact Statement co-funded drilling grant. Core logging is underway, with assay results expected soon. Furthermore, two diamond holes were drilled at Pincher North Dome to support metallurgical testwork on shallow zinc mineralisation, with assays pending. These efforts underscore Venus Metals’ commitment to advancing its diverse portfolio beyond gold.

Financial Position and Outlook

Financially, Venus Metals reported a solid position with aggregated cash and investments totaling $17.3 million as of 30 June 2025. The company generated $482,000 in net cash inflows from share sales in Rox Resources and Dreadnaught Resources during the quarter, while exploration expenditure was $260,000. Payments to related parties amounted to $166,000, primarily consultancy fees. Despite a net cash outflow from operations, the company expects to maintain its current operating cash flows and has taken steps to raise further funds, including recent share sales, supporting ongoing exploration and development activities.