Gold aspirant Rox Resources has been rattling the tin for $200 million for the development of its Youanmi gold mine, which now comes with a $383 million price tag.
Bulls N' Bears Big Hits this week examines some notable intercepts revealed on the ASX, including Rox Resources' hit in Western Australia of 6m at 19.08g/t gold from 220m, including 3m at 36.87g/t from 221m. Koba Resources also reported good results at its Yarramba uranium project in South Australia and Ausgold Limited struck gold at its Katanning gold project in WA's Wheatbelt.
West Perth-based junior Rox Resources has announced plans to raise up to $27 million, as it continues to aspire towards mid-tier production at its Youanmi gold project.
Gold aspirant Rox Resources has flagged a cost of around $245 million to bring the historic Youanmi mine in the Murchison back into production, amid a hot local gold market.
Venus Metals' hunt for lithium at its Penny East project in Western Australia's Mid West region – within ground initially secured for gold and base metals prospectivity – has revealed encouraging soil geochemical results. The company says it identified an anomalous area measuring about 800m by 600m, while a second 800m-wide anomaly is open to the north. Further soil sampling and shallow drilling is planned.
Venus Metals is on a roll with the first drill campaign at its Deep South prospect within its Youanmi project in WA's Murchison hitting lithium paydirt. High-grade lithium pegmatites were intersected at both the East and North zones, with strong tantalum enrichment also recorded. The best grade recorded in the maiden campaign came in at a significant 2.89 per cent lithium oxide.
Venus Metals has kicked off its maiden reverse-circulation drill campaign at its Youanmi lithium project where lithium-bearing pegmatites were recently discovered at its highly-compelling Deep South lithium prospect. The Deep South lithium prospect sits 44km south of the Youanmi Gold Mine, which is about 450km north-east of Perth in Western Australia's rugged Murchison region.
Aurum Resources is set to launch a maiden 74-hole air-core drilling campaign at its Ryans Find gold project, north-east of Koolyanobbing, after completing trackwork for the rig and a heritage clearance survey. Some 3500m of drilling will be oriented in multiple transects perpendicular to the prospective greenstone belt to follow-up on gold and base metals anomalies observed in soil sampling.
The Youanmi gold project near Mt Magnet in Western Australia's Murchison region has coughed up more high-grade results to bolster the confidence of Venus Metals and its joint venture (JV) partner Rox Resources in upgrading the project's mineral resource estimate. New highlights include 6.38m going 4.45 grams per tonne gold from 381.84m, including 2.56m at 8.26g/t gold from 381.84m.
Venus Metals has revealed what it believes could be “game-changing” high-grade drill results in its JV with Rox Resources after uncovering the faulted extension of the 4-million-ounce Youanmi gold deposit. The lode-extending discovery hole returned 28m at 34.81 grams per tonne gold, with new drilling 200m further south hitting 5.7m at 8.26g/t gold from 233.3m and 5.08m grading 9.56g/t from 225.8m.
Venus Metals and joint venture partner, Rox Resources, continue to serve up bumper hits at their Youanmi gold project in WA's Murchison goldfields, with the latest drilling at the Link prospect striking 22m at 6.31 g/t gold. The duo is plunging 24,000m of drilling into the project in a bid to upgrade the current 3.2-million-ounce inferred mineral resource to the higher indicated category.
First-pass shallow RC drilling at Venus Metals' Youanmi lithium project in Western Australia's Murchison region has unearthed pegmatite-hosted LCT mineralisation that the company says remains open at depth and along strike. Lepidolite-bearing pegmatite with up to 2m at 0.33 per cent lithium oxide from 9m was intersected in one hole at the Beryl prospect and Venus has flagged more follow-up drilling.
Venus Metals Corporation and Rox Resources are headed for a mineral resource upgrade at their Youanmi gold project after impressive new drill results, including a 4m hit at 14.85 grams per tonne gold from 298m. The joint venture partners say the high-grade results confirm significant gold endowment at the project that sits about 480km north-east of Perth.
Venus Metals will become a major shareholder in joint venture partner Rox Resources after the companies agreed to consolidate their ownership interests in the greater Youanmi gold project in Western Australia. Shares in Venus jumped more than 20 per cent on the back of the latest announcement to touch 17.5 cents during intraday trading after closing yesterday at 14.5 cents.
Joint venture partners Venus Metals and Rox Resources have hit bonanza-grade results from an RC hole sunk into their Youanmi South prospect including a 3m intercept at almost five ounces per tonne gold from 218m. The outstanding 138.7 g/t gold hit was contained in a wider 28m segment grading more than an ounce per tonne at 34.81 g/t gold from 204m and includes an 18m section going 51.96 g/t from 207m and 10m at 79.55 g/t from 211m.
Joint venture partners Venus Metals and Rox Resources are continuing to be impressed by their Midway discovery at the duo's Youanmi gold project with the most recent assays from the current drill campaign reporting new thick high-grade gold intercepts. Headline figures include 6.76m at 15.4 grams per tonne gold from 169.1m and 3.73m at 10.25 g/t gold from 405.8m.
Venus Metals has launched an RC drilling program at new targets at its wholly owned Youanmi lithium project in WA's Murchison region, about 480km north-east of Perth. The drilling will test recently identified lithium anomalies in soil samples and rock chips for pegmatite-hosted lithium-caesium-tantalum mineralisation in the bedrock. The rock chips returned up to 2.11 per cent lithium oxide.
Shares in West Perth nickel junior Cannon Resources have shot up after an all-cash $45 million takeover offer from a Toronto-based private equity firm.
Our board moves wrap includes Alwyn Vorster, Tommy McKeith, Frazer Tabeart, Colin Moorhead, Alex Passmore, Robert Ryan, Luis da Silva, Ian Farmer, Gemma Lee, Stephen Strubel, and Shaddrack Adjetey Sowah.
Our board moves wrap includes Matthew McCann, John Hannaford, Michael Anderson, Andrew Taplin, Alistair Cowden, Glenn Corrie, Geoff Ward, and Robert Ryan.
Venus Metals and joint venture partner Rox Resources have unveiled a significant boost of the mineral resource estimate for their Youanmi gold project near Mt Magnet in WA. According to the company, it has lifted the operation's near surface resources by 204,000 ounces to more than 1 million ounces and lifted the project's total gold resource to 3.2 million ounces through extensive exploration.
Junior explorer Venus Metals Corporation and its joint venture partner ASX-listed Rox Resources have encountered more high-grade results ahead of a near-surface resource update at the Youanmi gold project near Mount Magnet in WA. Results from the latest drilling include significant hits up to 1m running 13.44 g/t gold which will feed into a near-surface mineral resource update expected in the next two weeks.
Having just received the keys to its Sandstone project in Western Australia, gold developer Aurumin Limited is gearing up to begin systematically exploring with an initial round of auger drilling. The vehicle-mounted program, due to kick off next week, is designed to build on five near-mill targets handed over from the previous owner – plus test a further 36 targets generated by the company.
Venus Metals Corporation, together with joint venture partner Rox Resources has continued its golden run of high tenor drill hits after a fresh set of results from recent work at the company's flagship Youanmi gold project in WA. Notable results from recent drilling include 3.25 metres grading a formidable 32.22 grams per tonne gold from 282m downhole and 4m going 10.91 g/t gold from 196m downhole.
Venus Metals has discovered multiple outcropping lithium rich pegmatites at its Henderson project 50km northwest of Menzies in WA. Rock samples from the outcrops returned lithium results up to an extraordinary 3.5 per cent lithium oxide with enriched tantalum and niobium. Henderson sits 15km south of the spodumene-rich lithium pegmatites discovered by Red Dirt Metals in the emerging Mt Ida/Ularring greenstone belt lithium province.
Venus Metals Corporation has tallied some impressive gold recovery rates with an average of 92.2 per cent gold extraction from metallurgical testwork on its Youanmi Deeps mineralisation near Sandstone in WA. Venus, together with its joint venture partner, Rox Resources, trialled a series of treatment methods and decided the Albion process is the preferred treatment to deliver high gold yields with low overall cost.
Venus Metals, along with their joint venture partner Rox Resources has had major success with its metallurgical test work recently conducted on the Youanmi Deeps Resource in WA. Test work has delivered substantial improvement in gold extraction for Youanmi Deeps with new test work improving extraction to 95.6 per cent, a substantial increase from the historical production which averaged 86.8 per cent gold recovery.
Venus Metals has discovered highly anomalous nickel, copper, chromium, platinum and palladium in soils in its Barrabarra North project next door to Chalices' acclaimed and similarly named Barrabarra project. Venus has also applied for two new exploration licences to increase its tenure in the area to over a massive 1000 square kilometres with planned systematic soil sampling and geophysical surveys on these tenements once granted.
Venus Metals and joint venture partner Rox Resources have continued to rack up high-grade gold hits with infill reverse circulation drilling at their Youanmi gold project in the Murchison district of Western Australia. A cracking 17 metre interval grading 5.14 grams per tonne gold was encountered from 151 metres downhole. Management believes there is strong potential for further increases in the Resource.
Venus Metals and Rox Resources have launched a major drilling offensive at their joint ventured “Youanmi Regional” project in WA. An array of gold prospects on the partners' ground-holdings will be the subject of a serious 22,000m aircore drilling campaign consisting of 540 holes. The JV says the program will target high-grade gold mineralisation along an 18.5km greenstone corridor between the well-known Youanmi and Penny gold deposits.
Venus Metals and joint venture partner Rox Resources have drilled high-grade gold some 80m outside of the existing resource base at their Youanmi gold project in the Murchison district of Western Australia with a 6.8m intercept returning a stellar 11.98 grams per tonne gold from 264m. Drilling continues as the partners seek to grow the 1.66-million-ounce resource at the project.
Venus Metals and joint venture partner Rox Resources appear to have confirmed significant open-pit mining cost savings for the proposed shallow, high-grade Grace gold deposit near Mount Magnet in Western Australia's Murchison district. Grace forms a part of the duo's 1.66-million-ounce Youanmi gold resources that the partners are looking to bring into production.
Venus Metals and joint venture partner Rox Resources have delivered solid gold hits including 5m at 5.96 grams per tonne gold near an old underground mine the duo plan to bring into production at the Youanmi gold project in the Murchison district of Western Australia.
