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- Rox Resources (RXL) and Venus Metals (VMC) have updated the market on their Youanmi regional gold exploration project
- At the Penny West Deep South prospect, the companies recently completed a ground magnetic survey, which highlighted six prospective targets for gold mineralisation
- A planned ground magnetic survey is in place at the Youanmi Shear Zone
- Meanwhile, a reverse circulation drilling program is also planned at the Sovereign Gold prospect
- The drilling will test the down-plunge extensions of the recently discovered gold mineralisation
- Rox Resources is up 6.38 per cent on the market today and is selling shares for five cents each, while Venus Metals is also up 2.27 per cent, trading for 22.5 cents per share
Rox Resources (RXL) and Venus Metals (VMC) have updated the market on their Youanmi regional gold exploration project.
Penny West
At the Penny West Deep South prospect, the companies recently completed a ground magnetic survey, which covered 8.3 kilometres of the strike at Youanmi. The survey highlighted six prospective targets for gold mineralisation.
In early 2020, an Xcite electromagnetic survey was carried out at Penny West. Five high priority anomalies were considered the most significant from that survey.
Rox and Venus plan on further testing the high-priority targets found in both surveys.
Youanmi Shear Zone
A planned ground magnetic survey will commence at Youanmi Shear Zone. The survey will work between the Youanmi mine and the north of Penny West.
Sovereign Gold Prospect
Reverse circulation (RC) drilling is set to commence at the Sovereign Gold prospect, which will test the down-plunge extensions of recently discovered gold mineralisation.
Significant results from a previous aircore and RC drilling program, announced in November, included four metres at 7.02 g/t of gold from 24 metres and five metres at 2.41 g/t of gold from 60 metres.
Red White and Blue Gold prospects
Venus and Rox has a combined 90 per cent interest in Currans Find and Pinchers, which hosts the Red White and Blue Gold prospects.
Recently, a ground magnetic survey was completed at the prospects to help with finding targets. An interpretation from that data has defined a new target, which has been prioritised for drill-testing.
Previous RC drilling at the Red White and Blue prospect has intersected multiple quartz lodes. The best intersection from this drilling program was nine metres at 3.27g/t from 35 metres, including two metres at 8.35g/t of gold.
Rox Resources is up 6.38 per cent on the market today and is selling shares for five cents each, while Venus Metals is also up 2.27 per cent, trading for 22.5 cents per share at 1:30 pm AEST.
