Venus Project Extends 6km with 5m at 2.95g/t Au Highlighting Magellan Prospect

Exploration Accelerates at Venus

Hamelin Gold Limited (ASX, HMG) is stepping up its exploration efforts at the Venus gold project, situated in the prolific Murchison gold district of Western Australia. The company has commenced a detailed airborne aeromagnetic and radiometric survey over the southern half of the project area, aiming to refine geological understanding and generate new drill targets. This survey, conducted by Magspec, will complement existing regional magnetic data with high-resolution coverage, enhancing structural interpretations critical to gold exploration.

Alongside geophysical work, Hamelin has reported promising results from initial broad spaced geochemical soil sampling. These samples have delineated a 6-kilometre strike extension of the geological sequence that hosts the nearby Comet Gold Mine, operated by Westgold Resources. This discovery opens up a significant new corridor for exploration beneath largely unexplored lake sediments that cover much of the Venus tenure.

High-Grade Gold at Magellan Prospect

Historical drilling data compilation has revealed a compelling zone of high-grade gold mineralisation at the western boundary of the Venus project, now designated the Magellan prospect. Notably, aircore drilling intersected 5 metres at 2.95 grams per tonne gold from 100 metres depth, including a standout 1 metre interval grading 9.42 grams per tonne. These intersections, often associated with quartz veining and sheared iron formations, underscore the prospect’s potential to host economically significant gold shoots.

However, the historical diamond drilling at Magellan appears to have inadequately tested the depth potential of the mineralised system, with some holes not optimally positioned to intercept the down plunge extensions. Hamelin plans to undertake a 3D geological interpretation to better define these high-grade zones before advancing further drilling.

Strategic Exploration in a Challenging Terrain

The Venus project covers approximately 300 square kilometres, much of which is concealed beneath Lake Austin’s sediments, posing exploration challenges. Hamelin’s approach combines cutting-edge geochemical techniques, such as ultrafine soil sampling capable of penetrating shallow sand cover, with detailed aeromagnetic surveys to reveal concealed bedrock geology. This integrated strategy is designed to unlock the potential of underexplored greenstone belts within the Murchison region, a district known for its +15 million ounce gold endowment.

Looking ahead, a second phase of soil sampling is planned for February 2026 to further test the southern extensions of the Comet corridor. Additionally, aircore drilling programs are scheduled to test newly identified structural and geochemical targets. A heritage survey is also planned to facilitate these upcoming drill campaigns, ensuring compliance with local regulations and cultural considerations.

Positioning for Growth in 2026

Managing Director Peter Bewick emphasised that the Venus project is poised to be a key focus for Hamelin this year. The collection of comprehensive baseline geochemical and geophysical datasets will underpin the company’s 2026 drilling programs, while the historical data compilation highlights the high-grade potential that could significantly enhance the project’s value. With strong backing from major shareholders and a robust exploration pipeline, Hamelin is well positioned to advance its footprint in one of Australia’s most promising gold provinces.