- Venus Metals and Rox Resources to partner together to begin commencement of a 1,200 metre RC drill program at a recently reopened
- Rox Resources and Venus Metals have a combine 90 per cent holding in Currans Find
Together with Rox Resources, Venus Metals has announced the commencement of a 1,200 metre reverse circulation drill program at the Currans Find Prospect.
Rox Resources and Venus Metals have a combined 90 per cent interest with Murchison Earthmoving and Rehabilitation retaining the remaining 10 per cent.
Located in Western Australia, Currans Find is part of the Youanmi Gold project with Venus purchasing the historic mines in May 2018.
The total historical production sits at 667,000 ounces of gold grading 5.42 g/t and was discovered from an open pit and underground operations between 1908 and its closure in 1997.
The mine closed in 1997 when gold prices were around $400 per ounce and now it sits at $1760 per ounce which transformed the economics for gold mining.
A JORC 2012 compliant resource at Youanmi is now estimated at 1.2 million ounces of gold.
The upcoming drill will focus on shallow high-grade gold mineralisation and interpreted down-plunge extensions at its two main prospects Currans and Red, White and Blue Middle Workings.
In April 2019, Venus discovered a near-surface gold mineralised quartz reef. This has formed a high-priority target because almost no historical drilling has taken place in the area where it was discovered.
Shallow RC drilling is also planned at the Taylor’s Reef discovery with recent excavation and trenching uncovered with strongly gold-mineralised vein quartz.
The initial RC program is expected to be completed by early June.