Venus Metals (ASX:VMC) said an exploration target was defined at the Bellchambers gold deposit in Western Australia, according to a Friday Australian bourse filing.

The conceptual target stands at 800,000 tonnes to 950,000 tonnes of material at 1.75 grams to 2 grams per tonne grade of gold for 45,000 ounces to 60,000 ounces of contained gold.

The target is located below the existing global resource and to the north of the current indicated/inferred mineral resource at depth. It added that there are two major mineralized zones, with a total of around 15 meters of true thickness, based on the interpretation of deep holes.

The firm's shares fell 1% in recent trading on Friday.