Venus Metals Confirms Gold and Base Metals Anomalies at Henderson and Youanmi

Venus Metals Confirms Multi-Target Gold and Base Metals Anomalies Across Western Australian Portfolio

Venus Metals Corporation Ltd (ASX: VMC) has reported extensive geochemical results from its Western Australian exploration portfolio, highlighting new and extended anomalies in gold and base metals and confirming progress on a research partnership targeting titanium extraction at Youanmi. Venus Metals confirms gold and base metals anomalies at Henderson and Youanmi projects, with the datasets outlining coherent gold, cobalt, copper and nickel anomalies expected to guide upcoming geophysical surveys and drilling.

Across the Henderson Gold Project and the Youanmi Base Metals Project, more than 1,600 soil and rock chip samples have been collected and analysed. According to the ASX announcement dated 29 June 2026, these datasets provide a clear direction for future exploration activity across the company's Western Australian asset base.

What the Results Show: A Multi-Commodity Exploration Push

The exploration update from Venus Metals Corporation Ltd outlines three key work streams that are advancing in parallel:

1. Auger soil sampling at the Henderson Gold Project (E30/520), extending and refining known gold anomalies associated with major fault structures.
2. Multi-element geochemical surveying at the Youanmi Base Metals Project, which has defined a new cobalt-copper-nickel anomaly and copper-rich zones along a major geophysical trend.
3. Commencement of a research and development program with Murdoch University, aimed at assessing titanium, and possibly vanadium and iron, extraction pathways from the Youanmi vanadiferous titano-magnetite resource.

For investors, these activities position Venus Metals Corporation Ltd across both early-stage greenfields targeting and applied metallurgical research anchored to an existing Mineral Resource Estimate (MRE).

Henderson Gold Project: Snake Hill Anomaly Takes Shape

The Henderson Gold Project covers approximately 202 km² on tenement E30/520 in the central Yilgarn Craton. The tenement includes parts of the Mt Ida / Ularring Greenstone Belt and is intersected by the Ida Fault and Ballard Fault, which the company describes as important controls on local gold mineralisation.

Nearby gold operations provide useful geological context:

The Henderson auger soil program comprised 466 samples collected to depths of 1–2 metres across three prospects: Snake Hill, Blue Well South and 18 Mile Well. According to Venus Metals Corporation Ltd, the assays show anomalous gold trends that both extend previous areas of interest and correlate with historic exploration data.

Snake Hill: Infill Sampling Defines a 1,600 m x 450 m Gold Target

The Snake Hill prospect, located 2.5 km north of Blue Well, is the most advanced target in this update.

Historic work cited in the announcement includes:

• A WMC lag anomaly of 500 ppb Au
• Rock chip sampling by VGS in 2007, returning up to 5.1 g/t Au from old workings
• Previous surface soil sampling by IGO, with results up to 70 ppb Au

The latest program used infill auger sampling on a 50 m x 100 m grid. Venus Metals Corporation Ltd reports that this work:

• Defined an anomalous gold footprint of approximately 1,600 m x 450 m
• Returned auger soil assays up to 88 ppb Au
• Reinforced the previously identified surface anomalies

Geologically, Snake Hill is described as a structurally and lithologically favourable setting:

• Located at a bend in the Ida Fault
• Centred on a possible felsic intrusive interpreted from aeromagnetic data
• With historic anomalous rock chips associated with a northwest-trending gabbro unit that appears to terminate against the Ida Fault

This style of setting is often associated with Archaean lode gold mineralisation in the Yilgarn, where gold-bearing fluids are concentrated along faults and intrusive contacts.

For investors, the key point is scale and coherence. A continuous anomaly of 1.6 km in length, correlating with favourable structures and historic rock chips, provides a clear focus for geophysical targeting and eventual drilling.

Broader Henderson Results Along the Mt Ida and Ballard Faults

Beyond Snake Hill, 124 wider-spaced auger samples were collected on 100 m x 200 m spacing in areas of thicker cover south of Blue Well, along the Mount Ida Fault where vegetation impedes access.

According to the company:

• Results again show gold enrichment proximal to the major faults, refining historic anomaly trends.
• Subtle gold anomalies were identified along the Ballard Fault, west of 18 Mile Well.
• These Ballard Fault anomalies lie several kilometres south along strike from Henderson Bore, an under-explored gold target with previously defined anomalies (ASX release 31 October 2024).

Furthermore, Venus Metals Corporation Ltd reports that a high-resolution drone magnetic survey is planned across parts of both the Mount Ida and Ballard faults. The objective is to refine aeromagnetic features linked to structures that may control gold mineralisation, ahead of a targeted drilling program at Henderson.

Youanmi Base Metals Project: New Co-Cu-Ni Anomaly and Copper Trend

The Youanmi Base Metals Project is located about 15 km southwest of the Youanmi Gold Project being developed by Rox Resources, and approximately 12 km south of the Venus Titanium-Vanadium-Iron deposit. That deposit holds a JORC 2012-compliant MRE of 135 million tonnes at 0.34% V₂O₅, 6.27% TiO₂ and 21.33% Fe (ASX announcement 20 March 2019).

Geologically, the Youanmi project area:

• Covers part of the Youanmi Greenstone Belt
• Is described as prospective for volcanic-hosted massive sulphide (VHMS) style base metals mineralisation
• Includes felsic to intermediate volcanic and sedimentary rocks with banded iron formation (BIF) and chert layers

The Youanmi Intrusion also hosts several vanadiferous titano-magnetite units that form strong magnetic horizons, with outcropping ridges and ready access to gas pipelines, roads and Geraldton port facilities. These characteristics are relevant to both exploration and any potential future development options.

Scope of the Recent Geochemical Programs

Venus Metals Corporation Ltd reports that several regional geochemical programs were completed as part of a targeted investigation around the Youanmi greenstone belt. Across multiple tenements, the following samples were collected:

Samples were analysed at Jinning Laboratories in Perth. Gold was assayed by 50 g / 30 g fire assay, while base metals and other elements were analysed via mixed acid digest ICP-OES/MS 60-element scans. The company notes that internal laboratory quality control checks were satisfactory.

New Co-Cu-Ni Anomaly at E57/1257

A key outcome of this work is a new multi-element anomaly on tenement E57/1257.

Surface soil sampling identified:

• A northeast-trending cobalt-copper-nickel (Co-Cu-Ni) anomaly
• Approximate dimensions of 1,200 m long by 350 m wide
• Location over subtle north-south trending aeromagnetic highs
• Position a few kilometres northwest of the historical Currans Mining Centre

This combination of multi-element geochemistry (Co, Cu, Ni) and coincident aeromagnetic features is considered by Venus Metals Corporation Ltd to be consistent with target models for VHMS-style base metal systems. VHMS deposits typically occur where metal-rich fluids were discharged onto or near the seafloor in ancient volcanic settings, forming lenses or layers of massive sulphides that can contain copper, zinc, lead and associated metals such as cobalt and nickel.

From an investor perspective, a 1.2 km by 350 m anomaly at this early stage suggests a target of district scale. However, confirmation of any mineralisation will depend on follow-up work and eventual drilling.

Copper Enrichment Along 14 km of Strike

In addition to the Co-Cu-Ni anomaly, auger soil sampling was carried out along a 14 km strike length following a regional geophysical feature interpreted as part of the Youanmi Igneous Complex.

According to the announcement:

• Significant copper concentrations were returned, up to 722 ppm Cu in sample L0019.
• Several areas along this trend have been flagged as key targets for further investigation.
• A follow-up program is planned to determine the source of the copper anomalies and to support the design of an exploration drilling program.

For base metals exploration, soil and auger anomalies in the hundreds of ppm copper range can be considered important pathfinders. Where these are spatially coherent and align with geophysical structures, they consequently become the focus of detailed surveys and drill testing.

University Partnership Targets Titanium Recovery at Youanmi

Beyond early-stage exploration, Venus Metals Corporation Ltd has initiated a research and development (R&D) program with Murdoch University's Extractive Metallurgy Hub at the Rockingham Campus. This work focuses on the Youanmi vanadiferous titano-magnetite resource, which is already covered by a JORC 2012 MRE of 135 million tonnes at 0.34% V₂O₅, 6.27% TiO₂ and 21.33% Fe.

The stated aim is to evaluate leaching-based processing options to extract titanium dioxide (TiO₂) and potentially vanadium and iron from the ore.

"The principal aim of this project is to assess processing methods for extracting titanium from the Youanmi vanadiferous titano-magnetite resource and to gain a comprehensive understanding of the key process parameters, including the consumption and cost of reagents necessary for leaching, extraction, and recovery of TiO₂," according to the ASX announcement dated 29 June 2026.

The work, led by Professor Aleks Nikoloski, will:

• Evaluate selected leaching strategies, including acidic chloride systems
• Examine reagent recycling options to manage costs and environmental footprint
• Include feed characterisation, bench-scale testwork and process modelling
• Assess whether any preferred method for recovering titanium, and possibly vanadium and iron, could be economically feasible and innovative

Subject to successful results, the program may identify cost-effective processing pathways and support further assessment of broader critical minerals recovery opportunities from the existing Youanmi resource. For Venus Metals Corporation Ltd, this R&D program provides a parallel development track that is distinct from, but complementary to, its greenfields exploration.

Tenement Rationalisation: Copper Hills Sale

Portfolio management is also addressed in the announcement. Redscope Enterprises Pty Ltd, a wholly owned subsidiary of Venus Metals Corporation Ltd, has sold the Copper Hills tenement (E45/6437) to a private company.

Key terms of the transaction:

Venus Metals Corporation Ltd notes that the sale reduces annual tenement expenditure obligations while retaining upside through the 1% net smelter royalty (NSR) if the asset is ever brought into production. This illustrates an approach of rationalising non-core holding costs while maintaining contingent exposure to exploration success by other parties.

Educational Section: Understanding Auger Soil Sampling and Geochemical Anomalies

What Is Auger Soil Sampling?

Auger soil sampling uses a simple drilling tool called an auger, which acts like a rotating screw, to bring soil from below the surface to the top. In exploration:

• Holes are typically drilled 1–2 metres deep.
• The target is to reach soil layers below the surface cover, where metals from any mineralisation below have had time to accumulate.
• A small amount of soil from each hole is collected, usually 100–200 grams, and sent to a laboratory for analysis.

This method is relatively low cost compared with drilling rock, and it is furthermore suitable for covering large areas on a regular grid pattern.

Why Do Geochemical Anomalies Matter to Investors?

Soil and auger results rarely define an orebody on their own. Instead, they are an early screening and targeting tool.

An anomaly is identified when metal concentrations in soil are:

• Higher than background levels in the surrounding area, and
• Form a continuous pattern over a meaningful distance (hundreds or thousands of metres)

For instance, consider the following results from across the portfolio:

• At Snake Hill, auger sampling on a 50 m x 100 m grid outlined gold values up to 88 ppb Au across a 1,600 m x 450 m area.
• At Youanmi E57/1257, surface soils show a Co-Cu-Ni anomaly about 1,200 m x 350 m, coincident with subtle aeromagnetic highs.
• Along the Youanmi Igneous Complex trend, auger soils returned up to 722 ppm Cu over a 14 km strike length.

These results suggest that metals are being dispersed through the soil from a source at depth, which may be mineralisation. When combined with geological mapping and geophysics, such anomalies help companies decide where to deploy more expensive techniques, such as reverse circulation (RC) or diamond drilling.

Key Terms Explained

What Comes Next: Planned Work Programs

Venus Metals Corporation Ltd has outlined the next steps flowing from these exploration and R&D activities.

Henderson Gold Project:

• Conduct high-resolution drone magnetic surveys across sections of the Mount Ida and Ballard faults.
• Use the magnetic data to refine the interpretation of intrusive bodies and structural trends.
• Plan and implement a drilling program to test the Snake Hill anomaly and other fault-related targets.

Youanmi Base Metals Project:

• Carry out follow-up geochemical surveys, focusing on the Co-Cu-Ni anomaly on E57/1257 and the copper-rich corridor along the Youanmi Igneous Complex.
• Integrate soil, auger and geophysical data

Ready to Explore Venus Metals' Western Australian Portfolio in More Detail?

Venus Metals Corporation Ltd (ASX: VMC) is advancing a multi-commodity exploration strategy across its Western Australian projects, with coherent gold and base metals anomalies at Henderson and Youanmi now guiding upcoming geophysical surveys and drilling, alongside a university-backed R&D programme targeting titanium extraction from an existing 135 Mt resource. Investors looking to understand the full scope of VMC's project pipeline, resource base and corporate strategy can access the latest company presentation by visiting venusmetals.com.au.