- Venus Metals and joint venture partner Rox Resources have recommenced reverse circulation (RC) drilling at the Youanmi Gold Project in Western Australia
- The drilling is planned to follow up bonanza grade gold intersections from the area announced earlier this month
- Following the drilling, a trial induced polarisation (IP) survey is being planned over known sulphides at Currans North. The IP survey will then be followed by 3D surveying and geophysical modelling, depending on the IP results
Venus Metals and joint venture partner Rox Resources have recommenced reverse circulation (RC) drilling at the Youanmi Gold Project in Western Australia.
At the Venus’ Currans North prospect, the drilling is planned to follow up bonanza grade gold intersections from the area announced earlier this month.
As part of a Stage 2 drilling program at Currans North, the company struck an intersection of 3 metres at 25 grams per tonne gold from 109 metres, including 1 metre at 57.15 grams per tonne gold from 110 metres.
Furthermore, the company announced that within the high-grade gold intersections, accessory galena associated with significant sulphide contest was identified in the RC rock chips. According to Venus, this is an important new development showing a gold-sulphide association.
In response, the new RC drilling program announced today will explore the down-plunge and along-strike extensions of previously-reported high-grade gold mineralisation.
Venus has also announced that following the drilling, a trial induced polarisation (IP) survey is being planned over known sulphides at Currans North. The IP survey will then be followed by 3D surveying and geophysical modelling, depending on the IP results.
Furthermore, Venus has said the RC drilling will also test an electromagnetic anomaly along the Youanmi Shear Zone. This area was identified in 2018 and is associated with gold anomalies in historical shallow drilling.
Essentially, this means this is a high-priority target for bedrock-hasted gold mineralisation.
Venus has a strong focus on exploration in the Youanmi area, and it’s not just limited to gold. The company’s project portfolio in the area includes its Vanadium Oxide Project, Lithium Project, Copper-Zinc Project and, of course, its Gold Project.
Venus also controls several other projects throughout Western Australia.
Venus shares are down a slight 2.22 per cent today, trading for 22 cents each in a $26.23 million market cap.
Rox shares are also in the red, trading for 2.7 cents apiece — down 6.9 per cent on yesterday’s close.