leadf
logo-loader
viewVenus Metals Corporation Ltd

Venus Metals and partner begin drilling two gold prospects at Youanmi

Drilling at Penny West Deep South prospect will target high‐priority heli‐borne electromagnetic anomalies 4 kilometres south of the historical Penny West Gold mine.

Venus Metals Corporation Ltd - Venus Metals and partner begin drilling two gold prospects at Youanmi
Youanmi Gold Project has a 1.2-million-ounce gold resource

Venus Metals Corporation Limited (ASX:VMC) and joint venture partner Rox Resources Limited (ASX:RXL) have commenced a reverse circulation (RC) drill program at the Penny West Deep South and Sovereign prospects.

The prospects are within the Youanmi Gold Project in Western Australia which has a resource of about 1.2 million ounces of gold.

Penny West Deep South Gold Prospect

Reverse circulation (RC) drilling will target high‐priority heli‐borne electromagnetic (HEM) anomalies on E57/1078, about 4 kilometres south of the historical Penny West Gold mine.

The HEM anomalies may indicate sulphide mineralisation potentially associated with gold of the Penny West‐ type of mineralisation.

RC drilling will also test the bedrock mineralisation beneath anomalous gold reported from historical rotary air blast (RAB) drilling that has not been followed up.

Sovereign Gold Prospect

Previous aircore (AC) drilling on E57/1019 discovered a new zone of gold mineralisation of 4 metres at 7.02 g/t gold from 24 metres and 5 metres at 2.41 g/t gold from 60 metres.  

Follow‐up RC drilling beneath the gold intersection in the AC holes confirmed the gold mineralisation, and AC drilling to the south extended this gold mineralisation.

The current RC program is testing the depth and along-strike extensions of this new zone of gold mineralisation.

Current RC drilling target areas (red) and planned work (yellow) shown on aeromagnetic image

Planned regional aircore program

Further to the current RC program, AC drilling (about 4,000 metres) will also commence shortly.

The AC program will target the Penny West Deep South and the Pincher North Gold Prospects, both forming part of the VMC joint venture (VMC 45% ‐ RXL 45% ‐ Prospector 10%).

At the Currans Find Gold Prospect (Currans JV - VMC 45% ‐ RXL 45% ‐ Prospector 10%), AC drilling will test an intrusion that was identified by a recent ground magnetic survey and that may be related to diorite / granodiorite associated with gold mineralisation at the Red White and Blue Prospect.

Quick facts: Venus Metals Corporation Ltd

Price: 0.25 AUD

ASX:VMC
Market: ASX
Market Cap: $37.77 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

Tietto Minerals 'over the moon' as gold resources pass 3 million ounces

Tietto Minerals Limited's (ASX:TIE) Mark Strizek speaks to Proactive's Andrew Scott after reporting that they've grown the overall gold resource at its Abujar project in central west Côte D’Ivoire, West Africa, by 40% or 870,000 ounces, to 3.02 million ounces. Strizek says the updated resource...

9 hours, 6 minutes ago

2 min read