Company News: Venus Resources
Updated: 22 Mar 2010
Venus has Exploration Licence applications covering approximately 200 square kilometres of the northern part of the Archaean Yalgoo greenstone belt of Western Australia. The Yalgoo Project area contains Archaean Banded Iron Formation units which are interpreted by Venus to be equivalent to those hosting the Gindalbie Metals/Ansteel iron ore deposits to the south.
A recent Venus exploration targeting study identified ten, largely concealed, high priority iron ore and gold exploration targets, with the Joker target being considered to have a DSO iron ore target potential of 5-40 Mt in the range of 58-62% Fe. Drilling of the Yalgoo project targets awaits granting of the 100% owned Venus exploration licence applications. Venus also has tenement applications within the Argyle diamond mine region covering the un-mined lower reaches of the diamond-bearing Smoke Creek which was initially mined by Argyle prior to open pit operations.
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