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.