- Venus Metals has revealed results from a recent reverse circulation (RC) drilling program at its Bell Chambers Gold Project
- Two holes were drilled for 156 metres to provide geological and assay confirmation for the inferred JORC 2012 resource
- The results confirm previous drill results and will allow Venus Metals to begin fresh JORC resource calculations
- Regional exploration to test targets along the shear zone north and south of the Bell Chambers mine is also being planned
Venus Metals has reported positive RC results at its Bell Chambers Gold Project.
Two holes were drilled for 156 metres to provide geological and assay confirmation for the inferred JORC 2012 resource. Significant results from the drilling include 27 metres at 2.72 g/t gold from 27 metres, and 64 metres at 1.7 g/t gold from 10 metres.
Company management says these “robust” results confirm previous drill results and will allow Venus Metals to begin fresh JORC resource calculations.
The current inferred resource for the project is 340,000 tonnes at 1.5 g/t gold for 17,000 ounces of gold. The calculations for this resource were based on RC and diamond drilling completed at the prospect between 1988 and 2001.
Venus Metals Managing Director Matt Hogan said the results were positive for the company and for the Bell Chambers project.
“The results show extensive and continuous gold intersections confirming both the previous geological interpretation as well as grade continuity down dip in the oxide‐transition and fresh rock zones,” Matt said.
Once the revised resource estimated and metallurgical test work results at the project have been received, Venus Metals intends to progress out scoping study work. Regional exploration to test targets along the shear zone north and south of the Bell Chambers mine is also being planned.
The Bell Chambers Gold Project is located roughly 23 kilometres southwest of Sandstone in Western Australia. The project has a high-grade production history, with recorded production from 1907 to 1942 reaching 3,979 tonnes for 2,682 ounces of gold at a recovered grade of 10.96 g/t gold.
Shares in Venus Metals are down 4 per cent today, trading at 12 cents per share in a $11.13 million market cap.