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Venus Metals Corporation Limited (ASX:VMC) Mangaroon North Ni-Cu-Pt-Pd-Au Project
Venus Metals Corporation Limited (ASX:VMC) is pleased to announce the recent grant of the exploration licence (EL) 09/2422. This EL and three additional EL applications are in the name of Redscope Enterprises Pty Ltd, a wholly owned subsidiary of Venus, and cover a total of 546 km2 (Figure 1*) in an area prospective for Ni-Cu-Pt-Pd, Au and Rare Earth Elements (REE) in the Gascoyne Region of Western Australia.


- The tenements E09/2422 and ELA 08/3229 cover a total of 295 km2 and abut Dreadnought Resources Ltd's (ASX:DRE) and First Quantum Minerals Ltd's (TSE:FM) ("FQM") Mangaroon Project (Figure 1*) targeting magmatic Ni-Cu-Pt-Pd mineralization associated with the mafic-ultramafic Money Intrusion (refer DRE ASX release 15 March 2021). FQM can earn a 51% interest initially in the Mangaroon project by spending $15M on exploration (refer DRE ASX release 7 April 2021).

- DRE recently identified gossanous outcrop over 1 km strike at Bookathanna Bore in the northern part of the Money Intrusion with significant rock chip results of up to 1.0% Cu, 0.6% Ni, 0.04% Co and 0.3g/t Pt-Pd-Au (refer DRE ASX release 16 July 2021). The outcrop is located approximately 3 km east of Venus' ELA 08/3229) (Figure 2*).

- Within Venus' E09/2422 and ELA 08/3229, several northwest trending Narimbunna igneous intrusives (dolerite and gabbro sills) and northnortheast trending Mundine Well dolerites, dykes, sills and small intrusions are considered highly prospective for magmatic Ni-Cu-Pt-Pd mineralization similar to that discovered in the Money Intrusion (Mundine dolerite).

- E09/2422 and ELA 08/3229 are also considered prospective for gold mineralization along strike of the historical high-grade Star of Mangaroon gold mine and at structural targets along several shear and fault zones that transect the tenements (Figure 3*).

- Initial field mapping, rock chip sampling and geochemical surveys on the granted EL09/2422 will target potential Ni-Cu-Pt-Pd mineralization associated with mafic intrusives identified from DMIRS geological maps and geophysical data.


Two recent applications, ELA08/3375 and ELA09/2541, are in an area considered prospective for rare earth elements (REE). ELA09/2541 is located some 10 km north of the Yangibana carbonatite field and is considered prospective for carbonatite-hosted REE mineralization. REE targets have been identified in the southern section of the tenement along ESE-WNW trends in the magnetic imagery that may potentially represent carbonatite sills within the Durlacher Supersuite, showing a similar orientation to the Yangibana carbonatites to the south (Figures 4a-b*).

*To view tables and figures, please visit:

Matt Hogan
Managing Director
Venus Metals Corporation Limited
Tel: +61 8 9321 7541

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