Youanmi throws up more solid numbers for Venus/Rox
The Grace prospect has come up with the numbers again for Venus Metals and its managing JV partner Rox Resources at their Youanmi South project in the Goldfields, with new results over 30 gold gram metres clearly defining a high-grade mineralised zone that sits within a wider overall series of repeating gold bearing structures that plunge to the north.
Significantly, a new hole, 300 metres from the first discovery hole at Grace has hit 2 metres grading 18.96 grams per tonne gold from 48 metres at the end of hole - leaving the zone wide open at depth and to the north.
The RC drilling program has also confirmed the presence of a new high grade zone underneath the Grace discovery, with 3m grading 7.41g/t from 109m backing up a previous intercept of 4m grading 9.75g/t gold.
The gold at Grace is hosted in the “footwall” granite, which is a completely different setting to the rock sequences where gold was historically mined in the Youanmi pit.
According to the JV partners, mineralisation also appears to have a repetitive geometry and continues to the north, so there is still a reasonable amount of drilling and exploration to be done here.
The companies also said that drilling way out in the granite at Hill End East, identified previously unrecognised zones of gold mineralisation with both good holes ending in grade including 4m at 1.6g/t from 56m and 4m at 1.42g/t gold from 56m.
At the Plant Zone West prospect, another drill hole hit a decent 12m zone grading 1.12g/t Au from 48m.
The companies are also working on a new regional exploration program now that the potential for mineralisation in the Younami Granite has been well and truly confirmed.
Venus/Rox said all results are now in from the drilling completed in March this year and plans are in place to get back on site soon.
Any further drilling at Grace is likely to support the development of a maiden resource, which will be interesting to evaluate in terms of the potential economics, considering the prospect’s location right on the doorstep of the mothballed Youanmi gold plant.
Is your ASX listed company doing something interesting ? Contact : firstname.lastname@example.org
Venus Metals Corporation (VMC)
Closing price for the last 90 trading days
Powered by Morningstar ®