Venus locks in $52,500 grant for Murchison copper drilling program
The grant for the maximum amount applied for of $52,500 will cover 50 per cent of the co-funded diamond drilling costs and up to $5000 in drill rig mobilisation costs.
Venus plans to plunge the drill bit into a previous reverse circulation hole drilled to a depth of 150 metres as a pre-collar. A follow-up diamond tail will test a conductor of 5000 siemens at 400m depth. Drilling costs are reduced because the pre-collar hole tested the first 150m of a much deeper hole.
The company's diamond drilling program is expected to begin in June.
Venus will take the opportunity to obtain core samples for metallurgical testwork planned on its zinc mineralisation identified within two holes and will complete downhole electromagnetic surveying.
The EIS initiative was launched in 2009 to encourage exploration in WA and to trigger private sector resource exploration for new mineral and energy discoveries.
Venus conducted ground gravity surveys on its ground across the prospective northern extension of its Pincher North Dome base metal find, which is considered to be a volcanogenic massive sulphide (VMS) system. The company encountered several gravity anomalies in the system, which contains copper, zinc and lead mineralisation.
Subsequent moving loop electromagnetic survey lines were flown across the gravity anomalies using a Jessy Deeps SQUID sensor at low base frequency to achieve a maximum investigative depth.
The SQUID sensor is an ultra-sensitive receiver for ground transient electromagnetic measurements with supposed unrivalled sensitivity. It can record data up to 10 times longer or three times deeper than conventional coil receivers.
Management says a broad late-time response was evident on one line and modelled at 400m depth as a flat-lying, high-conductance plate at 5000 siemens, a unit of conductive measurement to determine how well a material allows electricity to flow through it.
It believes the modelled plate is significant and is champing at the bit to test it in the upcoming co-funded drill program.
Previous solid results at Pincher include gold hits at the Linda Gossan prospect, where the company has a 50 per cent interest through a joint venture in the regional gold rights, intersecting 9m at 15.6 grams per tonne (g/t) gold from surface, including a 3m hit of 35.2g/t from 1m.
Venus is in the enviable position of holding 55 million shares in gold explorer Rox Resources. Those shares are currently valued at near $17M.
Venus last week revealed a high-tech collaboration with leading science research organisation CSIRO to ramp up the hunt for more gold in WA's 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 home in on gold and copper alteration zones at the Bellchambers deposit, within its Sandstone gold deposit.
Venus plans to use a combination of hyperspectral satellite imagery, downhole scanning and handheld spectrometers to rigorously map the deposit's mineral system with highly detailed 3D accuracy.
Sitting 23 kilometres southwest of the historic Sandstone gold-rush township and 70km from Rox Resources' Youanmi gold mine, Bellchambers has a modest but promising gold resource of 722,000 tonnes grading 1.31g/t gold for 30,500 ounces.
The company is conducting a 2000m reverse circulation drilling campaign that will plunge 26 holes into the prospective ground to test for gold outside the known resource and around the Bellchambers deposit.
All the reverse circulation chips and core samples will feed directly into the CSIRO's project to refine its advanced minerals mapping.
The CSIRO collaboration comprises next-generation hyperspectral satellite sensors that can scan the Earth's surface in unprecedented detail, creating mineral maps that dovetail with subsurface data from Venus' drilling program.
By integrating HyLogger-3TM downhole imagery and surface spectrometry, the project aims to generate a holistic view of the mineralising system, potentially kicking-up new gold-copper zones across the 125 square kilometre tenement.
Wisely, Venus has targeted the available government funding to help it pursue a coveted potential, new copper-zinc deposit in WA.
Is your ASX-listed company doing something interesting? Contact:
matt.birney@wanews.com.au
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ABC News
3 days ago
- ABC News
Office worker finds endangered spotted handfish dead on Hobart street
A critically endangered spotted handfish found dead on a Hobart street was largely intact and looked as if it had just "flopped out of the water" when discovered by office worker John Retallick. Mr Retallick found the fish, Brachionichthys hirsutus, on Victoria Street in the city centre last week when he briefly left his office to purchase groceries at a milk bar. He has donated the unusual find to the Tasmanian Museum and Art Gallery, where genetic samples have been taken and the handfish preserved for future research. An estimated 2,000 spotted handfish exist in the wild. Mr Retallick remains shocked by his find. Carlie Devine, principal investigator in spotted handfish research at the CSIRO, said the fish may have ended up on a city street after being taken by a seabird. "It is a really interesting story: how did an iconic Tassie fish end up in the CBD?" Ms Devine said. "It's pretty incredible." When Mr Retallick stumbled upon the dead fish, he immediately knew what it was. "I went, 'Oh my god, that's a handfish!'" he said. He rushed back to his office for a container and found a reusable glass coffee cup. "I filled it with water and just got it [the fish] and popped it in," Mr Retallick said. He said the handfish was "still damp" when he found it and later realised it was missing a fin. Mr Retallick, who had previously worked at the museum, contacted friend and former colleague Richard Hale so he could donate the specimen. "I called [Richard] and said, 'I'll give you a million-to-one odds if you can guess what I've just found on the street.'" Mr Retallick hopes its inclusion in the museum's collection will help improve knowledge of the species. There are 14 handfish species, all of which are found only in southern Australia and mostly in Tasmania. The spotted handfish inhabits the Derwent Estuary in Tasmania, where it lives in sheltered coastal bays. The elusive species uses its "hands" to walk, rather than swim, through the soft sediment it likes to inhabit. Once common, the species has experienced a rapid decline and faces many threats. These include water pollution, predation from introduced species such as the northern Pacific seastar, and habitat destruction by boat mooring chains and historical fishing practices. Ms Devine thought it was likely the handfish found by Mr Retallick died of natural causes. Spotted handfish have a short life span of five to 10 years. The specimen's large size of approximately 11 centimetres suggests it reached a natural, albeit sad, endpoint as an adult handfish. Ms Devine said it was likely there was a simple explanation for its death and discovery, particularly because of its missing upper fin. "It looks like something has had a go at it," Ms Devine said. "It possibly being translocated by a seabird sounds pretty plausible." She said if a dead handfish was found, it should be put in a freezer straight away and reported to the Wildlife Incidents Hotline at NRE Tasmania or the National Handfish Recovery Team. "We do get the occasional email from the public about seeing one. Senior curator at the museum David Hocking said the largely intact specimen was a rare example of an adult spotted handfish in the state collection. It now offers present and future opportunities for research on the species. "These sorts of specimens are really valuable because they give us a record of the species at a moment in time," Dr Hocking said. "It means that researchers in the future can keep coming back to these specimens to look at them to see how the population genetics might change over time." Dr Hocking said there had been much speculation about how the handfish came to be on Victoria Street, but agreed with Ms Devine about what might have happened. "It possibly washed up on a beach … [and] was probably picked up by a seabird, flown over, and dropped in town," he said. He encouraged the public to contact appropriate organisations if any "rare" or "unusual" animal specimens were found, but warned against touching birds because of avian influenza. "Get in touch and someone can go and investigate it," Dr Hocking said.
Sky News AU
5 days ago
- Sky News AU
'Facts can no longer be concealed': Labor's renewables push undermined by CSIRO report proving coal is 'king', energy expert claims
Labor's claims about renewable energy appear to have been undermined in a new CSIRO report, with the Centre for Independent Studies' energy expert Aidan Morrison confident coal was still the "king" of cheap power. Speaking to Sky News, Mr Morrison refuted Labor's claims renewable energy was the best path forward and said the CSIRO's 'own numbers' in its recent GenCost report showed coal was cheaper than firmed integrated renewables. In the report, black coal cost $111 per megawatt hour at the lowest end of annual forecasts while backed-up wind and solar was $116 MWh under the cheapest model. Last year's report had black coal in second place at $107 MWh compared to firmed renewables, which were in first place at $97 MWh. Energy Minister Chris Bowen, however, said the CSIRO report showed renewables, backed by batteries and transmission, was the cheapest form of energy. 'Much cheaper than nuclear and the Liberal Party remains committed to nuclear, the most expensive form of the energy, rejected by the Australian people,' he said. Mr Morrison said the headline from the GenCost report should be: 'Coal is the king of low cost energy'. 'CSIRO's own numbers in this report actually say that coal is now cheaper to build than firmed integrated renewables,' he said. Mr Morrison claimed the CSIRO demonstrated coal was now the cheapest form of electricity for consumers, but had 'bent over backwards' to conceal the truth. 'In particular, the estimation for the cost of firm renewables, that is providing all the gas and the transmission and the storage to make that intermittent feast and famine energy into reliable electricity,' he said. 'Last time they told us that that was between $42 and $48. This time they're saying it's between $48 and $64. There is literally no overlap between draft and final between those two different estimates for how much it costs to firm renewables." Mr Morrison said the CSIRO had 'moved the goalposts' by adding 'caveat words' to its website such as 'low-carbon electricity', referring to renewables. 'They are literally shifting the goal posts in front of our eyes when they are no longer able, in their own analysis, to sustain the argument… that renewables are not just environmentally virtuous but also economically virtuous,' he said. 'The facts can no longer be concealed.' Mr Morrison said the CSIRO's report could not be 'taken seriously'. Earlier on Tuesday, the CSIRO refused to reveal its modelling on the cost of the renewable energy transition, sparking transparency concerns over the Albanese government's push for net zero. Among those voicing their concerns was shadow energy minister Dan Tehan, who pointed to the final GenCost report released by the CSIRO in which it said the modelling on its renewable integration costs was 'not suitable for general release'. Mr Tehan said the government needed to release the information given its broken $275 power bill reduction promise. 'Why? This is our leading scientific organisation and it will not release the modelling on these costs they are putting forward,' Mr Tehan said. 'Nothing in this report goes to that fact. As a matter of fact, all we see now is our leading scientific organisations saying they cannot release that model. Well, I think the government needs to explain why. 'The cost is being hidden by this government.'
The Advertiser
6 days ago
- The Advertiser
Why wind and solar remain the cheapest energy options
Electricity generated by solar and on-shore wind projects remains the cheapest option for Australia, while small nuclear reactors are the most expensive, the latest report from the CSIRO and energy market regulator has found. The GenCost 2024-25 report, produced at CSIRO's Newcastle Energy Centre, argues that Australia's electricity network relies on a mix of technologies, because no single option can deliver all the capabilities required for a reliable, secure and flexible supply. It also found that rising construction costs and supply chain constraints for some technologies remain a challenge. CSIRO's chief energy economist and GenCost lead author Paul Graham said fewer submissions were received during this year's consultation process than previously, which reflected a broader range of perspectives. "Most input we received focused on technologies already in development or under construction, such as pumped hydro, wind, solar photovoltaics, gas, solar thermal and electrolysers," he said. "Following consultation, cost projections for most technologies have been revised upwards, despite continued declines in solar PV and battery costs. Key drivers of these changes include: Overall, the report found renewables (wind and solar) backed by storage and transmission remained the lowest-cost new-build electricity generation technologies. However, it found that offshore wind remains a higher cost option to on-shore wind, even though transmission costs tended to be lower. "Offshore wind can be built much nearer to Australia's major cities, which means they can avoid the higher transmission costs faced by onshore projects," Mr Graham said. "However, overall, offshore wind generation is generally higher cost than onshore wind. Offshore wind runs the risk of a first-of-a-kind premium, given Australia's workforce does not have any experience building this type of project." After renewables, gas with carbon capture and storage (CCS) and large-scale nuclear were the next lowest cost options. As neither is currently deployed for electricity generation in Australia, they could be subject to longer lead times and first-of-a-kind premiums. Small modular nuclear reactors (SMRs) remain the highest cost option, even with new data from Canada's Darlington project. This represented the first commercial-scale benchmark from a western country and fell within the range previously projected by GenCost. Climate Change and Energy Chris Bowen said the GenCost report supported the government's net-zero policy. "Australia has the best wind and sun to power our future and we're harnessing it to secure the better, fairer energy system our nation deserves," he said. "The latest GenCost confirms what our energy experts have been saying for a long time: the most affordable path to deliver reliable energy in future is with new renewable generation and storage, firmed by gas and pumped hydro. This year's report calculated the potential cost advantages of nuclear technology's longer operational life for the first time. "Our finding is that there are no unique cost advantages arising from nuclear technology's long operational life. Similar cost savings are achievable from shorter lived technologies, even accounting for the fact that shorter lived technologies need to be built twice to achieve the same operational life,' the report said. The CSIRO's director of energy, Dr Dietmar Tourbier, said GenCost is Australia's most comprehensive source of electricity generation cost projections, supporting evidence-based decisions across the sector. "We refresh forecasts annually using the best available data at the time to ensure GenCost reflects current market conditions and remains a trusted benchmark," he said. "By drawing on expert input from across the electricity sector, GenCost reinforces CSIRO's role as a neutral source of scientific insight to help guide Australia's energy transition." Electricity generated by solar and on-shore wind projects remains the cheapest option for Australia, while small nuclear reactors are the most expensive, the latest report from the CSIRO and energy market regulator has found. The GenCost 2024-25 report, produced at CSIRO's Newcastle Energy Centre, argues that Australia's electricity network relies on a mix of technologies, because no single option can deliver all the capabilities required for a reliable, secure and flexible supply. It also found that rising construction costs and supply chain constraints for some technologies remain a challenge. CSIRO's chief energy economist and GenCost lead author Paul Graham said fewer submissions were received during this year's consultation process than previously, which reflected a broader range of perspectives. "Most input we received focused on technologies already in development or under construction, such as pumped hydro, wind, solar photovoltaics, gas, solar thermal and electrolysers," he said. "Following consultation, cost projections for most technologies have been revised upwards, despite continued declines in solar PV and battery costs. Key drivers of these changes include: Overall, the report found renewables (wind and solar) backed by storage and transmission remained the lowest-cost new-build electricity generation technologies. However, it found that offshore wind remains a higher cost option to on-shore wind, even though transmission costs tended to be lower. "Offshore wind can be built much nearer to Australia's major cities, which means they can avoid the higher transmission costs faced by onshore projects," Mr Graham said. "However, overall, offshore wind generation is generally higher cost than onshore wind. Offshore wind runs the risk of a first-of-a-kind premium, given Australia's workforce does not have any experience building this type of project." After renewables, gas with carbon capture and storage (CCS) and large-scale nuclear were the next lowest cost options. As neither is currently deployed for electricity generation in Australia, they could be subject to longer lead times and first-of-a-kind premiums. Small modular nuclear reactors (SMRs) remain the highest cost option, even with new data from Canada's Darlington project. This represented the first commercial-scale benchmark from a western country and fell within the range previously projected by GenCost. Climate Change and Energy Chris Bowen said the GenCost report supported the government's net-zero policy. "Australia has the best wind and sun to power our future and we're harnessing it to secure the better, fairer energy system our nation deserves," he said. "The latest GenCost confirms what our energy experts have been saying for a long time: the most affordable path to deliver reliable energy in future is with new renewable generation and storage, firmed by gas and pumped hydro. This year's report calculated the potential cost advantages of nuclear technology's longer operational life for the first time. "Our finding is that there are no unique cost advantages arising from nuclear technology's long operational life. Similar cost savings are achievable from shorter lived technologies, even accounting for the fact that shorter lived technologies need to be built twice to achieve the same operational life,' the report said. The CSIRO's director of energy, Dr Dietmar Tourbier, said GenCost is Australia's most comprehensive source of electricity generation cost projections, supporting evidence-based decisions across the sector. "We refresh forecasts annually using the best available data at the time to ensure GenCost reflects current market conditions and remains a trusted benchmark," he said. "By drawing on expert input from across the electricity sector, GenCost reinforces CSIRO's role as a neutral source of scientific insight to help guide Australia's energy transition." Electricity generated by solar and on-shore wind projects remains the cheapest option for Australia, while small nuclear reactors are the most expensive, the latest report from the CSIRO and energy market regulator has found. The GenCost 2024-25 report, produced at CSIRO's Newcastle Energy Centre, argues that Australia's electricity network relies on a mix of technologies, because no single option can deliver all the capabilities required for a reliable, secure and flexible supply. It also found that rising construction costs and supply chain constraints for some technologies remain a challenge. CSIRO's chief energy economist and GenCost lead author Paul Graham said fewer submissions were received during this year's consultation process than previously, which reflected a broader range of perspectives. "Most input we received focused on technologies already in development or under construction, such as pumped hydro, wind, solar photovoltaics, gas, solar thermal and electrolysers," he said. "Following consultation, cost projections for most technologies have been revised upwards, despite continued declines in solar PV and battery costs. Key drivers of these changes include: Overall, the report found renewables (wind and solar) backed by storage and transmission remained the lowest-cost new-build electricity generation technologies. However, it found that offshore wind remains a higher cost option to on-shore wind, even though transmission costs tended to be lower. "Offshore wind can be built much nearer to Australia's major cities, which means they can avoid the higher transmission costs faced by onshore projects," Mr Graham said. "However, overall, offshore wind generation is generally higher cost than onshore wind. Offshore wind runs the risk of a first-of-a-kind premium, given Australia's workforce does not have any experience building this type of project." After renewables, gas with carbon capture and storage (CCS) and large-scale nuclear were the next lowest cost options. As neither is currently deployed for electricity generation in Australia, they could be subject to longer lead times and first-of-a-kind premiums. Small modular nuclear reactors (SMRs) remain the highest cost option, even with new data from Canada's Darlington project. This represented the first commercial-scale benchmark from a western country and fell within the range previously projected by GenCost. Climate Change and Energy Chris Bowen said the GenCost report supported the government's net-zero policy. "Australia has the best wind and sun to power our future and we're harnessing it to secure the better, fairer energy system our nation deserves," he said. "The latest GenCost confirms what our energy experts have been saying for a long time: the most affordable path to deliver reliable energy in future is with new renewable generation and storage, firmed by gas and pumped hydro. This year's report calculated the potential cost advantages of nuclear technology's longer operational life for the first time. "Our finding is that there are no unique cost advantages arising from nuclear technology's long operational life. Similar cost savings are achievable from shorter lived technologies, even accounting for the fact that shorter lived technologies need to be built twice to achieve the same operational life,' the report said. The CSIRO's director of energy, Dr Dietmar Tourbier, said GenCost is Australia's most comprehensive source of electricity generation cost projections, supporting evidence-based decisions across the sector. "We refresh forecasts annually using the best available data at the time to ensure GenCost reflects current market conditions and remains a trusted benchmark," he said. "By drawing on expert input from across the electricity sector, GenCost reinforces CSIRO's role as a neutral source of scientific insight to help guide Australia's energy transition." Electricity generated by solar and on-shore wind projects remains the cheapest option for Australia, while small nuclear reactors are the most expensive, the latest report from the CSIRO and energy market regulator has found. The GenCost 2024-25 report, produced at CSIRO's Newcastle Energy Centre, argues that Australia's electricity network relies on a mix of technologies, because no single option can deliver all the capabilities required for a reliable, secure and flexible supply. It also found that rising construction costs and supply chain constraints for some technologies remain a challenge. CSIRO's chief energy economist and GenCost lead author Paul Graham said fewer submissions were received during this year's consultation process than previously, which reflected a broader range of perspectives. "Most input we received focused on technologies already in development or under construction, such as pumped hydro, wind, solar photovoltaics, gas, solar thermal and electrolysers," he said. "Following consultation, cost projections for most technologies have been revised upwards, despite continued declines in solar PV and battery costs. Key drivers of these changes include: Overall, the report found renewables (wind and solar) backed by storage and transmission remained the lowest-cost new-build electricity generation technologies. However, it found that offshore wind remains a higher cost option to on-shore wind, even though transmission costs tended to be lower. "Offshore wind can be built much nearer to Australia's major cities, which means they can avoid the higher transmission costs faced by onshore projects," Mr Graham said. "However, overall, offshore wind generation is generally higher cost than onshore wind. Offshore wind runs the risk of a first-of-a-kind premium, given Australia's workforce does not have any experience building this type of project." After renewables, gas with carbon capture and storage (CCS) and large-scale nuclear were the next lowest cost options. As neither is currently deployed for electricity generation in Australia, they could be subject to longer lead times and first-of-a-kind premiums. Small modular nuclear reactors (SMRs) remain the highest cost option, even with new data from Canada's Darlington project. This represented the first commercial-scale benchmark from a western country and fell within the range previously projected by GenCost. Climate Change and Energy Chris Bowen said the GenCost report supported the government's net-zero policy. "Australia has the best wind and sun to power our future and we're harnessing it to secure the better, fairer energy system our nation deserves," he said. "The latest GenCost confirms what our energy experts have been saying for a long time: the most affordable path to deliver reliable energy in future is with new renewable generation and storage, firmed by gas and pumped hydro. This year's report calculated the potential cost advantages of nuclear technology's longer operational life for the first time. "Our finding is that there are no unique cost advantages arising from nuclear technology's long operational life. Similar cost savings are achievable from shorter lived technologies, even accounting for the fact that shorter lived technologies need to be built twice to achieve the same operational life,' the report said. The CSIRO's director of energy, Dr Dietmar Tourbier, said GenCost is Australia's most comprehensive source of electricity generation cost projections, supporting evidence-based decisions across the sector. "We refresh forecasts annually using the best available data at the time to ensure GenCost reflects current market conditions and remains a trusted benchmark," he said. "By drawing on expert input from across the electricity sector, GenCost reinforces CSIRO's role as a neutral source of scientific insight to help guide Australia's energy transition."
