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.
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:
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West Australian
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West Australian
5 days ago
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CSIRO-led voyage leads to discovery of new deep-sea species, Carnarvon flapjack octopus, off Gascoyne coast
Meet the Carnarvon flapjack octopus — a new deep-sea species discovered in a canyon off the Gascoyne coast named after the location where it was found and its resemblance to a pancake. With massive eyes and blood-red tentacles, the small, gelatinous deep-sea octopus grows to about 4cm in diameter, but little is known about its ecology or lifestyle. The opisthoteuthis carnarvonensis is the 10th and latest new species to be described from specimens collected during a 2022 CSIRO-led voyage by research vessel Investigator, which surveyed relatively unexplored habitats and seabed biodiversity of the Gascoyne and Carnarvon Canyon Marine Parks for the first time. Since the survey, researchers, taxonomists and other stakeholders have been working to identify and describe some of these new species. In newly published research, Dr Tristan Verhoeff, a volunteer systematic taxonomist with the Tasmanian Museum and Art Gallery, described the new species of flapjack octopus. It is a type of cirrate or 'dumbo' octopus of which there are 50 described species worldwide and 15 recorded from Australian waters. It is a deep-sea shape shifter able to flatten its body to resemble a pancake or to pull itself up to look like a tiny gelatinous umbrella. Unlike other octopus, they produce no ink and cannot change colour. 'The Carnarvon flapjack octopus' presence adds extra value to these recently established marine parks,' Dr Verhoeff said. 'This species discovery increases our understanding of Australia's deep-sea ecology and biodiversity. Describing new species is also essential for future work on their ecology and assessing populations for conservation.' Dr Lisa Kirkendale, head of department aquatic zoology at the WA Museum, said the Indian Ocean was 'truly a frontier for marine biodiversity research' and support was needed to 'document fabulous new species, such as the Carnarvon flapjack octopus.' CSIRO marine national facility team leader Dr Venetia Joscelyne said the 2022 voyage had been vital for increasing the understanding of the region's seafloor habitats and biodiversity. 'This was the first time the Carnarvon Canyon and Gascoyne Marine Parks have been mapped in detail and explored to depths of more than 5000 metres,' she said. 'From this single research voyage alone, we are seeing many new marine species being described. Incredibly, scientists estimate that there are likely more than 1000 new species waiting to be described from specimens collected on RV Investigator voyages over the past 10 years.'
