logo-loader
Venus Metals Corporation Ltd

Venus Metals extends gold discovery by drilling up to 57 g/t gold

New RC drilling results from Currans Find North extend gold at depth with follow-up drilling planned next week.

Venus Metals Corporation Ltd - Venus Metals extends gold discovery by drilling up to 57 g/t gold
Shares in the company have nearly doubled over the last month, opening today at 28 cents

Venus Metals Corporation Ltd (ASX:VMC) has drilled high-grade gold extensions in follow-up drilling at its Currans Find North prospect within the Youanmi Gold Project in Western Australia.

The stage two drill program intersected 3 metres at 25.0 g/t gold from 109 metres including 1-metre at 57.1 g/t gold and 8 metres at 7.81 g/t gold from 112 metres.

These results follow stage one which intersected up to 72 g/t gold and demonstrates the potential for the discovery of ‘blind’ high-grade gold lodes along strike and down-plunge from the known resource.

Notably, within the high-grade gold intersections, the gold is associated with sulphide mineralisation.

Immediate follow-up RC drilling will commence next week and an induced polarisation (IP) survey will also commence soon to identify further sulphide‐rich gold lodes at depth.

READ: Venus Metals drilling seeks further bonanza-grade gold at Youanmi

The results of this drilling confirm the potential of Currans Find North to host a significant high-grad gold deposit.

Notably, the specific sulphide presence suggests geological similarities between Currans Find North, Penny North and Penny West.

Shares in gold explorer Spectrum Metals Ltd (ASX: SPX) have quadrupled over the past month given its exploration success at Penny North and Penny West.

5,000-metre aircore program to begin near Penny North

Venus and its partner Rox Resources Ltd (ASX:RXL) remain focused on the Youanmi Gold Project in Western Australia.

The Currans Find Mining Lease is a historical high‐grade gold producer.

Gold mineralization at Currans Find is hosted in quartz veins within mafic and ultramafic rocks.

These rock types are also host to the Penny West and Columbia– Magenta deposits south of Currans Find.

A 5000-metre aircore drill program is set to start this week, targeting anomalies located north of the Penny North discovery. 

MAP

Quick facts: Venus Metals Corporation Ltd

Price: $0.22

Market: ASX
Market Cap: $26.23 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Venus Metals Corporation Ltd named herein, including the promotion by the Company of Venus Metals Corporation Ltd in any Content on the Site,...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

'May only be a matter of time' before Uranium price recovery with...

Mining Capital's Alastair Ford discusses the planned slow down in production from Kazatomprom (LON:KAP). The miner's looking to cut output from its Kazakh mines by around 20% through to 2021. He says that extends the timeframe of its previous production curtailment by a further year, and...

12 hours, 53 minutes ago

2 min read