Venus Metals Secures Mining Lease for Bellchambers Gold Deposit
Venus Metals Corporation (ASX: VMC) has announced a significant milestone with the granting of mining lease M57/671 covering its Bellchambers gold deposit in Western Australia, setting the stage for potential mine development.
Mining Lease Grant Opens Path to Development
In a strategic advancement for Venus Metals, the company has secured mining lease M57/671 for its Bellchambers gold deposit, located approximately 23km southwest of Sandstone and 70km northeast of the Youanmi Gold Project.
The Bellchambers gold deposit currently hosts a mineral resource of 722,000 tonnes at 1.31 g/t gold for 30,500 ounces, with 22,100 ounces in the indicated category and 8,400 ounces in the inferred category.
Recent drilling at the site has delivered exceptional results, highlighting the deposit's potential:
Bellchambers Drilling Highlights:
- 29m @ 1.55 g/t Au from 11m (25BRC4)
- 30m @ 1.72 g/t Au from 45m (25BRC5)
- 19m @ 3.74 g/t Au from 11m (25BRC6)
Rangeview South:
- 9m @ 1.12 g/t Au from 17m (25BRC20)
Rangeview:
- 13m @ 1.60 g/t Au from 19m (25BRC31)
- 18m @ 1.24 g/t Au from 47m (25BRC32)
The newly granted mining lease spans approximately 415 hectares, providing ample space for potential open pit operations, waste dumps, and stockpiles, as well as areas considered prospective for identifying additional gold resources.
"The grant of the mining lease is an important step leading to the potential development of the Bellchambers gold deposit," stated Venus Metals management.
Metallurgical Testing and Resource Optimization Underway
Venus Metals is actively advancing the Bellchambers project through multiple technical workstreams:
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Metallurgical Testing: The company has collected samples from reverse circulation drilling for detailed metallurgical testwork at ALS to determine anticipated gold recoveries.
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Diamond Drilling: Two diamond holes have been completed in the resource area for supplementary testwork and geotechnical analysis.
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Resource Update: An updated Mineral Resource Estimate (MRE) is being developed to guide economic analysis and determine optimum potential open pit configurations.
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Engineering Support: The company has appointed an experienced Kalgoorlie-based mining engineering group for pit optimization work, pit design, and site layout configuration.
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Regulatory Preparation: Venus is sourcing quotes for the development of a Mining Development and Closure Proposal (MDCP), a critical step in obtaining final mining approvals.
Understanding Banded Iron Formation Gold Deposits
The Bellchambers gold mineralization is hosted within a steeply dipping sequence of sheared sulphide-rich sediments and mafic rocks, interlayered with thin chert and Banded Iron Formation (BIF).
What is Banded Iron Formation?
Banded Iron Formations (BIFs) are distinctive sedimentary rocks characterized by alternating layers of iron-rich minerals and silica. These formations were primarily deposited during the Precambrian era when Earth's atmosphere contained little oxygen, allowing large amounts of iron to dissolve in ocean water.
In gold exploration, BIFs are significant because they can act as chemical and structural traps for gold mineralization. When gold-bearing fluids pass through these reactive iron-rich rocks, the chemical contrast can cause gold to precipitate out of solution. Many significant gold deposits in Western Australia are associated with BIFs, making them prime exploration targets.
For investors, gold deposits associated with BIFs often display good continuity, which can lead to more predictable mining outcomes. The presence of BIF at Bellchambers suggests the potential for structural continuity of gold mineralization, which may support future resource growth.
Project Timeline and Next Steps
Venus Metals has outlined a clear pathway toward potential mine development at Bellchambers:
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Immediate Focus (Q3 2025):
- Complete metallurgical testwork on RC samples
- Analyse diamond drilling results for geotechnical parameters
- Finalise updated Mineral Resource Estimate
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Medium-Term (Q4 2025):
- Complete pit optimization studies
- Finalise pit design and site layout
- Progress Mining Development and Closure Proposal
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Development Decision:
- Economic assessment based on optimized pit design
- Regulatory approval process
- Potential mine development decision
Investment Potential: Why Bellchambers Matters
The Bellchambers gold deposit represents a significant opportunity for Venus Metals for several key reasons:
Resource Growth Potential
The recently completed drilling program returned encouraging results beyond the current resource envelope, suggesting potential to expand the existing 30,500-ounce resource. The extensive 415-hectare mining lease provides ample space for resource growth.
Operational Synergies
Located just 70km from the Youanmi Gold Project being advanced by Rox Resources (in which Venus holds a substantial shareholding and a 1% royalty), there may be potential operational synergies between the projects.
Near-Term Development Potential
With a mining lease now secured and technical studies underway, Bellchambers represents a potential near-term development opportunity within Venus Metals' diverse portfolio.
Resource Quality
At a 1.0 g/t cutoff, the resource grade increases to 1.79 g/t gold for 22,600 ounces, demonstrating the presence of higher-grade zones that could potentially support economic extraction.
| Resource Category | Cutoff (g/t) | Tonnes | Grade (g/t) | Ounces |
|---|---|---|---|---|
| Indicated | 0.5 | 526,000 | 1.31 | 22,100 |
| Inferred | 0.5 | 197,000 | 1.33 | 8,400 |
| Total | 0.5 | 722,000 | 1.31 | 30,500 |
| Indicated | 1.0 | 307,000 | 1.71 | 16,900 |
| Inferred | 1.0 | 86,000 | 2.08 | 5,800 |
| Total | 1.0 | 393,000 | 1.79 | 22,600 |
Why Investors Should Follow Venus Metals
Venus Metals Corporation offers investors exposure to a diverse portfolio of Australian mineral assets with the Bellchambers gold deposit representing a potential near-term development opportunity.
The company's strategic positioning includes:
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Diverse Asset Portfolio: Venus holds gold, copper, base metals, lithium, titanium, and vanadium exploration projects across Western Australia.
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Revenue Potential: The company owns a 1% royalty over the Youanmi Gold Mine and is a substantial shareholder of Rox Resources Limited.
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Development Pipeline: The Bellchambers project is advancing toward potential production decisions, providing a clear pathway to potential cash flow.
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Exploration Upside: Recent drilling results indicate potential for resource expansion at Bellchambers beyond the current 30,500-ounce resource.
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Technical Progress: The company is systematically advancing technical studies, including metallurgical testing, geotechnical analysis, and pit optimization.
With the grant of the mining lease at Bellchambers, Venus Metals has achieved a critical milestone on the path to potential gold production. As metallurgical testing, resource updates, and engineering studies progress through 2025, investors should watch closely for developments that could significantly enhance the project's value proposition.
Ready to Discover Venus Metals' Gold Potential?
To learn more about Venus Metals Corporation's promising Bellchambers gold deposit and the company's strategic pathway to development, download their latest investor presentation. Explore the full details of their diverse mineral portfolio, including growth opportunities across gold, copper, lithium and other critical minerals across Western Australia. View Venus Metals' corporate presentation here and discover why this ASX-listed explorer offers compelling investment potential.
