Venus Metals (ASX: VMC) has reported a maiden mineral resource estimate (MRE) at its Bellchambers gold project in Western Australia.
The initial Bellchambers MRE – which Venus has calculated using historical exploration drill hole data and its own accelerated exploration work at the deposit – has come in at a 754,000 tonnes at 1.27 grams per tonne for 30,800 ounces of gold.
The company had previously drilled a total of 15 reverse circulation (RC) holes for 1,864 metres at Bellchambers between 2019 and 2023 for 532m, and drilled a further 17 holes for 1,034m in April 2025, along with 17 holes for 715m at the Range View prospect 2km to the northeast.
The new estimate is a significant increase over the measured resource of 190,000t at 1.44 g/t for 8,800oz of gold, which Venus believes provides it with a clear development opportunity at Bellchambers.
It also includes results for an optimised pit resource at Bellchambers and Range View of up to 437,500 tonnes at 1.36g/t and 19,130oz of gold.
The historical Bellchambers mining area is located approximately 23km southwest of the town of Sandstone and 70km via road from the Youanmi gold project owned by Rox Resources (ASX: RXL).
Venus recently received approval for a mining lease covering the two deposits and has appointed a number of key consultants to assist in the preparation and submission of a mining development and closure proposal.
The proposal will encompass work including flora and fauna surveys, surface hydrology and waste characterisation.
The company anticipates receiving the results from its comprehensive metallurgical test work on seven representative samples in coming weeks.
Venus has also now defined a small resource at Range View, providing even further scope to grow the resource.
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