Venus Metals Corporation (ASX: VMC) has identified a significant new gold exploration target beneath its Bellchambers deposit in Western Australia, strengthening the long-term development potential of its Sandstone Gold Project. The estimate suggests that deeper mineralisation could materially increase the project’s overall gold inventory as the company moves toward production planning.
Mining company @VenusMetals has defined a new, almost 1M tonne exploration target for deeper mineralisation beneath its Bellchambers #gold deposit, about 25 kilometres south of Sandstone in WA’s Murchison Goldfields.$VMC #BULLSNBEARSWA #ASX https://t.co/UWqXwRu7fm
— Bulls N’ Bears (@BullsNBearsWA) January 2, 2026
The discovery comes as Venus advances technical and environmental studies ahead of a planned pre-feasibility study scheduled for late 2026.
Exploration Target Defined Below Existing Resource
Independent consultancy Widenbar and Associates has estimated a conceptual exploration target of between 800,000 and 950,000 tonnes grading 1.75 to 2 grams per tonne gold. This equates to a potential 45,000 to 60,000 ounces of gold from mineralisation located beneath the existing Bellchambers resource.
Venus Metals has identified new mineralised zones beneath the existing Bellchambers gold resource. (Source: International Mining)
The new target lies directly below the current global mineral resource, which stands at 766,000 tonnes at 1.27g/t gold for 31,400 ounces. The deeper zone also extends northward from the current indicated and inferred resource area, providing scope for further expansion along strike and at depth.
Geological Basis of the New Target
The exploration target is based on modelling of two principal mineralised zones that together have an estimated true thickness of about 15 metres. These zones were evaluated across a long-section area of roughly 21,000 square metres.
The deeper target is based on two mineralised zones with an estimated combined thickness of about 15 metres. (Source: barchart-news-media)
Widenbar and Associates applied a 1g/t gold cut-off grade and a bulk density of 3 tonnes per cubic metre to define the estimate. The grade range used in the modelling is supported by deeper inferred material within the deposit, which averages approximately 1.95g/t gold at the same cut-off.
These parameters suggest that the deeper mineralisation could be both geologically continuous and economically relevant if confirmed through drilling.
Drilling History and Recent Work
Bellchambers has been explored intermittently for decades. Historical reverse circulation and diamond drilling were completed between 1988 and 2001, providing the first understanding of the deposit’s structure and mineralisation.
Venus Metals later resumed drilling to test depth extensions and improve geological confidence. This included nine drill holes in 2020, followed by three reverse circulation holes in 2023. In 2025, the company completed a further 17 infill reverse circulation holes to strengthen the existing resource model and refine targets for deeper drilling.
The accumulated data from these programs formed the basis for the newly defined exploration target.
JORC Status and Development Implications
In line with JORC Code (2012) requirements, Venus has confirmed that the exploration target is conceptual in nature. Insufficient drilling has yet to be completed in the deeper zone to classify it as a mineral resource. There is no certainty that further exploration will convert the estimate into a reportable resource.
However, the target provides a clear focus for upcoming drilling campaigns. The company has already outlined plans to conduct deeper drilling through the first half of 2026 as part of its strategy to grow the Bellchambers resource base.
The deposit sits on a 90 per cent Venus-owned granted mining lease, which significantly reduces permitting risk and supports a streamlined pathway to potential production.
Pre-Feasibility Study and Project Strategy
Venus recently launched formal preparations for a pre-feasibility study (PFS) on the Bellchambers project. The study is scheduled for completion in Q3 or Q4 of the 2026 financial year.
In parallel, the company is undertaking environmental and hydrological assessments, seeking mining and processing quotes, and evaluating ore treatment options, including possible toll-treatment arrangements.
The new exploration target adds strategic flexibility to the PFS. If deeper mineralisation is confirmed, it could support a longer mine life or a larger-scale underground operation in addition to any initial open-pit or shallow mining scenario.
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Final Thoughts
The definition of a deeper gold exploration target at Bellchambers represents an important milestone for Venus Metals. While the estimate remains conceptual, it highlights meaningful upside beyond the existing resource and reinforces the geological potential of the Sandstone project area.
With drilling planned, a granted mining lease in place, and a pre-feasibility study underway, Venus is positioning Bellchambers as a serious development asset within Western Australia’s well-established Murchison goldfield.
If future drilling confirms the grade and continuity suggested by current modelling, the deeper mineralisation could play a key role in shaping the project’s commercial future.
FAQs
- What is the new Bellchambers exploration target?
Venus Metals has defined an exploration target of between 800,000 and 950,000 tonnes grading 1.75 to 2.00 grams per tonne gold. This equates to an estimated 45,000 to 60,000 ounces of gold located beneath the current Bellchambers resource.
- Where is the Bellchambers gold project located?
The Bellchambers deposit is located about 25 kilometres south of Sandstone in Western Australia’s Murchison goldfield, a region with a long history of gold mining.
- How does the new target compare to the existing resource?
The existing Bellchambers resource is estimated at 766,000 tonnes grading 1.27 grams per tonne gold for 31,400 ounces. The new target sits below this resource and could significantly increase the total gold inventory if confirmed by drilling.
- Is the deeper gold already a confirmed resource?
No. The deeper gold has been classified as an exploration target, meaning there is not yet enough drilling to confirm it as a formal mineral resource under reporting standards.
- What geological data supports the new estimate?
The target is based on two main mineralised zones with a combined true thickness of about 15 metres. Modelling used a 1 gram per tonne cut-off and a bulk density of 3 tonnes per cubic metre, supported by nearby deeper drilling that shows similar grades.
- What drilling has been done at Bellchambers so far?
The deposit has been drilled in several campaigns since the late 1980s. Venus Metals has also completed drilling programs in 2020, 2023, and 2025 to test depth extensions and improve confidence in the resource.
- What are Venus Metals’ next steps at Bellchambers?
The company plans to carry out deeper drilling in 2026 while advancing environmental studies and a pre-feasibility study aimed at assessing the project’s commercial potential.
