Venus Metals Corporation has bolstered its already overflowing suite of high-grade gold hits with a series of solid gold intercepts from recent resource drilling at its Youanmi gold joint venture project in WA. Notable results include 3 metres grading 7.2 grams per tonne gold from 131m downhole, 2m going 8.16 g/t gold from 183m and 2m at 6.78 g/t gold from 127m downhole.
The recent drill results continue a string of drilling successes over the 2021 calendar year that are likely to increase the existing 1.7 million ounce at 2.85g/t gold resource reported in June 2021. Resource drilling is targeting extensions of known mineralisation in addition to converting the current resource from the inferred to the indicated category by tightening the drill spacing.
Venus Metals is part of a joint venture operation 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.
The results from the latest round of drilling were delivered from shallow drilling up-plunge from the Link prospect in an area previously untested by drilling. The prospects sits between the base of the historic pits and underground development at Youanmi. The mineralisation was intersected below a historic 10m to 15m deep open pit at approximately 110m depth in a gap between the shallow and deeps resource envelopes. Venus believes the recent intersections are likely to add additional ounces to the greater resource inventory.
Importantly, the resource estimate calculated in June 2021 at Youanmi did not include any results from 2021 drilling. An updated resource estimate is expected to be completed in the first half of the 2022 calendar year, pending timing of any outstanding drill assay results. Venus expects the new resource estimate will both increase the resource base and improve the confidence category of existing resources.
Results are still pending for 28 RC drillholes and 14 diamond drill holes from the Youanmi project area.
Rox Resources’ Managing Director, Alex Passmore said: “These shallow intercepts at Link prospect demonstrate good up-plunge continuity of gold mineralisation and add further confidence that we will be able to add to the shallow resource inventory in this area. As part of the ongoing Youanmi development studies being undertaken we are looking at various mining scenarios, which may include open pit mining in the vicinity of these intersections.”
With a plethora of assay results still outstanding and expected back from the lab soon, Venus’ Youanmi resource estimate will be set for a serious jab in the arm with an updated resource estimate expected in the first half of the 2022 year.
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