- Venus Metals and Rox Resources have announced the results of an aircore drilling program at the Youanmi Gold Project
- Drilling results identified gold results grading up to seven grammes per tonne
- Reverse circulation and aircore drilling will now begin to confirm the extensions of the mineralisation at depth and along strike
- Venus’ share price is up 5.26 per cent while Rox’s is steady
Venus Metals and Rox Resources have announced the results of an aircore (AC) drilling program at the Youanmi Gold Project.
Youanmi is located 480 kilometres northeast of Perth in Western Australia and the area has produced an estimated 667,000 ounces of gold, at a grade of 5.47g/t, since the discovery in 1901.
The project is located north of the historical Penny West gold mine and the historical Magenta and Columbia gold prospects.
The aim of the recent AC program was designed to explore for geochemical anomalies that may indicate the presence of Currans North and Penny West-style high-grade gold mineralisation at depth.
The program mainly targeted the western trend and followed up on gold anomalies that are broadly associated with anomaly’s base metals.
A total of 61 holes, for 3131 metres, explored the strike extensions of the recently discovered gold-base metal anomalies.
There was also the discovery of significant new gold mineralisation in two holes, VRAC151 and VRAC161.
The strong gold mineralisation in VRAC151 occurs in two separate intervals with the upper one hosted in the clay zone and the lower being associated with sheared mafic rock and vein quartz.
This hole ended in gold mineralisation of 2 metres at 3.08g/t. Significant results include 4 metres at 7.02g/t gold from 24 metres and 5 metres at 2.41g/t gold from 60 metres.
“These significant results highlight the potential of the Youanmi Shear Zone to host significant gold mineralisation that does not show at surface,” Venus Managing Director Matt Hogan said.
“Our drilling may have identified a new corridor of gold mineralisation interpreted to be associated with a north-northwest trending splay from the main shear and immediate follow-up RC drilling is planned,” he added.
Hole VRAC161 is located 800 metres north of VRAC151 and will be further explored using AC drilling.
However, a significant result of 4 metres at 0.94g/t gold from 32 metres was identified.
“These aircore results build on the growing recognition of the gold endowment of the Youanmi belt and importantly feed into our regional understanding of controls on mineralisation,” Rox Managing Director Alex Passmore stated in Rox’s release.
Follow-up AC and reverse circulation drilling to explore new zones of gold mineralisation at depth and along strike has been planned and is scheduled to begin shortly.
At 12:17 pm AEDT Venus’ share price is up 5.26 per cent with shares trading for 20 cents apiece and Rox’s share price is steady at 2.2 cents apiece.