The company’s Stage 1 drilling targets are shallow (0 to 30m depth) cobalt-nickel mineralisation in weathered mafic-ultramafic rocks at Currans Well where historic drilling has shown thick intersections with up to 0.15% Co.
According to Venus Metals the geological settings at Currans Well is comparable with Clean TeQ Holdings Limited’s “Syerston Cobalt Project” where the surficial deposit hosted is within lateritic stratigraphy, overlying metal rich ultramafic rocks2.
The company says the targeted style of mineralisation is also similar to that at the Quicksilver Nickel-Cobalt Project in the South West Mineral Field of Western Australia (of Golden Mile Resources.
Supergene enrichment of cobalt and nickel occurs within the deep weathering profile developed on ultramafic bedrock. At Currans Well, other targeted commodities include copper, platinum and palladium.
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Venus says that preparation and permitting for Stage 2 drilling is also underway, with drilling to test two additional targets for supergene cobalt- nickel mineralisation within the Youanmi Project area:
The Estonia Target is a historic geochemical anomaly in magnetic surface lag that indicates the presence of ultramafic rock over a strike length of approximately 2 km under lateritic cover and shows highly anomalous nickel and cobalt along this trend.
The Penny West North Target is an approximately 2.4 km long and up to 0.2 km wide ultramafic talc-tremolite schist with a weathering profile that warrants drill-testing for supergene cobalt-nickel mineralisation.
Stage 2 drilling is scheduled to commence in January following Programme of Work (PoW) approvals.
