ASX-listed explorer, Venus Metals has substantially extended its high-grade mineralisation at the Link prospect within its Youanmi project. Latest drilling has intercepted high grade gold intercepts 200 metres down plunge of the existing resource, demonstrating strong continuity of mineralisation. These results point to a potential increase to the current resource estimate with many drill results still pending.
Venus Metals operates under a joint venture with Rox Resources at the Youanmi gold project, located on a 36 kilometre strike length of the Youanmi Greenstone Belt near the Ramelius owned Mount Magnet gold mine. Rox resources holds 70 per cent and Venus holds the remaining 30 per cent of the near mine Youanmi gold project joint venture.
Substantial assay results recently received include a solid 8 metres grading 6.24 grams per tonne gold from 249m down-hole including 3m grading 12.1 g/t gold from 250m.
Other notable results were 0.5m going 77.49 g/t gold from 277.8m and 0.75m grading 19.66 g/t gold from 270.9m.
Drilling at Youanmi is focussed on increasing the 1.7 million ounce, 2.85 gram per tonne gold resource inventory.
Recent assay results have extended the zone of high-grade mineralisation down plunge by a whopping 200m. The company says this is likely to result in a decent increase the high-grade resource to the north.
The rods are still spinning at Youanmi and results are still pending for 22 reverse circulation holes and 17 diamond drill holes.
Managing director of Rox Resources, Alex Passmore said: “These latest assays deliver an expansion of the mineralized zone at the Link prospect adding further confidence to the potential for resource additions ion this key area located in close proximity to existing underground workings.”
In addition to the ongoing drilling at the near mine Link prospect, a regional aircore drill program has recently wrapped up on the Youanmi regional joint venture tenements where Venus is a 50 per cent holder and Rox holds the remaining 50 per cent. Aircore drilling that comprised of 424 drillholes for a massive 22,337m was completed during August and September. Drill targets included several demagnetised zones over an 18km strike continuation of the Youanmi shear zone in the corridor between the Youanmi and Penny West gold deposits. Assays from the entire aircore drill program are still pending.
Whilst drilling at the Youanmi near mine gold deposit continues to produce the goods, regional targets are set to join the spotlight and a plethora of assay results are expected to be returned from both prospects soon setting the scene for a flood of results for Venus in the run up to Xmas.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
