- Venus Metals’ reverse circulation drilling at the Red White and Blue Gold Prospect has been successful
- Venus and its joint venture partner Rox Resources has identified an extension in the strike length of the gold mineralisation
- Best results include 2 metres at 8.35g/t
- Venus’ share price is currently down 2.63 per cent, with shares trading for 18.5 cents apiece
Venus Metals’ recently completed reverse circulation (RC) drilling at the Red White and Blue Gold Prospect has been successful.
Venus, alongside its joint venture partner Rox Resources, has identified an extension in the strike length of the gold mineralisation.
RC hole CFRC051 intersected high-grade gold mineralisation, associated with anomalous copper and lead.
The presence of this gold is significant as it is a potential indicator of high-grade gold mineralisation in the Penny West and Currans North-style projects.
Further RC drilling is planned to explore the gold zone both down-plunge and along strike.
Best results from the Red White and Blue Prospect include 9 metres at 3.27g/t from 35 metres, and 2 metres at 8.35g/t from 38 metres.
These intersections show anomalous concentrations of copper, lead and associated pathfinder elements and a geochemical signature that is very similar to the bonanza-grade gold zones at the WA-based Currans North project.
The gold mineralisation remains open at depth and permits further drilling to target potential high-grade zones down plunge.
Previous RC drilling (conducted across 15 holes for 1446 metres at the Red White and Blue Prospect) intersected multiple quartz lodes hosted in dominantly intermediate and mafic rocks.
So far, the prospect only extends to a vertical depth of 55 metres.
Further RC drilling is planned to explore the down-plunge extension of the high-grade gold lode. It is also planned to test several other quartz lodes for potential high-grade gold mineralisation at depth.
Venus’ share price is currently down 2.63 per cent, with shares trading for 18.5 cents apiece at 12:30 pm AEDT.