logo-loader
Venus Metals Corporation Ltd

Venus Metals Corporation commences 5,000-metre drill program

Drilling is targeting a coincident magnetic, electromagnetic and geochemical anomaly nearby to the historical Penny West gold mine.

Venus Metals Corporation Ltd - Venus Metals Corporation commences 5,000-metre drill program
Historical drilling in the target area is very limited

Venus Metals Corporation Ltd (ASX:VMC) has commenced an aircore drill program targeting an area within the Penny West shear zone within the Youanmi Gold Project in Western Australia.

The aircore drilling program in conjunction with its joint venture partner Rox Resources Ltd (ASX:RXL) is expected to be completed by late August 2019.

The target is north of the historical Penny West gold mine and also the Penny North gold discovery made by Spectrum Metals Ltd (ASX:SPX) in March 2019.

The discovery by Spectrum has been a major catalyst for the Spectrum share price with it running from 2.5 cents to 12 cents over the past month.

Aircore drilling at this target follows recent stage two drilling at the Currans Find North prospect, also within the Youanmi Gold Project.

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