Venus to unleash cutting-edge WA gold targeting project with CSIRO

Venus Metals has homed in its exploration focus at its Bellchambers gold project in Western Australia, announcing a high-tech collaboration with scientific research leaders the CSIRO, to crank up the hunt for more gold in the richly-endowed Sandstone region.

The company has inked a deal through the CSIRO’s Kick-Start program, securing a $47,426 voucher to fund a six-month research project to zero in on gold and copper alteration zones at Bellchambers.

Venus says by harnessing a combination of hyperspectral satellite imagery, downhole scanning and handheld spectrometers, the company will be able to rigorously map the mineral system with highly detailed 3D accuracy.

Sitting 23 kilometres southwest of the historic Sandstone gold-rush township and just 70km from Rox Resources’ Youanmi gold mine, Bellchambers already boasts a modest but promising gold resource of 722,000 tonnes grading 1.31 grams per tonne (g/t) for 30,500 ounces. That includes 22,100 ounces in the indicated category which Venus is currently probing to expand along strike and at depth.

The company is currently conducting a 2000m reverse circulation (RC) drilling campaign, punching out 26 holes to test for gold outside the known resource and around the Bellchambers deposit.

Diamond drilling is set to follow the 2000m program, with all RC chips and core samples feeding directly into the CSIRO’s project to refine its advanced minerals mapping.

Venus says it will also look to simultaneously refine the metallurgical profile of its deposits from sampling to test the gold’s free milling nature, hoping it can be quickly monetised following the grant of a mining lease.

We are delighted to be collaborating with the CSIRO and their expert team for the advancement of the Sandstone Gold Project and consider this to be a great opportunity to identify new potentially mineralised areas through the advanced alteration mineral mapping using hyperspectral image analysis and bodes well with our current drilling programmes underway at Bellchambers.

The CSIRO collaboration leans on next-gen hyperspectral satellite sensors that can scan the Earth’s surface in unprecedented detail, creating mineral maps that dovetail with subsurface data from Venus’ drilling.

By integrating HyLogger-3TM downhole imagery and surface spectrometry, the project aims to generate a holistic view of the mineralising system, potentially lighting up new gold-copper zones across the 125km² tenement.

Venus has lodged a mining lease application over 415 hectares of its ground, covering the Bellchambers deposit and its prospective surrounds. Historical production at the project delivered a tidy 3688 ounces from just 5620 tonnes at a whopping 21 g/t, hinting at the high-grade potential still lurking beneath.

The company’s exploration push is backed by a rock-solid $21.5 million in cash and liquid investments thanks largely to its 55 million shares in Rox Resources, worth around $19.8M..

Rox has its ears pinned back at the Youanmi project charging toward gold production having launched a $40 million capital raise today. Venus’ 1 per cent royalty over the mine could eventually deliver a steady cash stream, while ongoing talks for a mine gate sale agreement could fast-track Bellchambers ore to Rox’s processing plant.

Venus is hoping it can tie in its Range View prospect, that is just a stone’s throw from Bellchambers, which has already dished up some enticing hits, including a 11m grading 4.69g/t from just 12m.

The CSIRO project is expected to wrap up by year-end, with drilling assays and mineral maps set to drop in the following months. As the results roll in, Venus could be on the cusp of transforming Bellchambers into a cornerstone asset as gold prices remain above $5000 an ounce. The company looks to be riding a golden tailwind and with a war chest valued north of $20M, Venus’ current market cap of $21.7M is certainly eye-catching.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au