Venus Metals has commenced a fresh round of reverse circulation, or “RC” drilling at its 90 per cent-owned Range View prospect as it hunts down more gold at the interesting looking target just 1.5kms north-east of its Bell Chambers gold deposit. Venus is testing the extension of high-grade gold mineralisation discovered late last year at Range View, just off the Paynes Find-Sandstone Road, east of Mount Magnet in Western Australia’s Goldfields region.
The Venus-operated Range View prospect is part of the company’s Sandstone gold project that is wedged between its Bell Chambers deposit and Middle Island Resources’ clutch of gold discoveries located just south of the historical gold mining town of Sandstone in WA.
The Perth-based gold and base metals hopeful said one RC drill hole in the previous reconnaissance drilling campaign at Range View tagged a significant intercept of 11 metres grading 4.69 grams per tonne gold from just 12m downhole.
Importantly, the drill hit included an intriguing 1m section going 38.92 g/t gold, from just 20m downhole, with the gold-rich zone still open at depth and along strike.
A reconnaissance surface sampling program by Venus Metals at its Nardoo Hill West project has produced highly anomalous rare earth elements (REE).
Nardoo Hill West is located about 350km east of Carnarvon in the Gascoyne region of Western Australia.
Venus is also exploring there for associated tantalum and niobium.
It neighbours the Nardoo Hill project which Venus last year sold to eMetals Limited.
As part of the sale, Venus has 9.1% interest in eMetals.
eMetals also has been working to find REE on its ground which is directly east of Venus’ project. eMetals’ ground contains the Cairn Hill REE anomaly
Moreover, Venus says Nardoo Hill West is prospective for carbonatite-related REE mineralisation because of similarities in geological settings with the Yangibana REE deposit located 65km northeast, owned by emerging REE producer Hastings Technology Metals.
Venus Metals Corporation continues to uncover fresh precious metal targets across the Youanmi terrane in Western Australia. An ongoing evaluation of the company’s comprehensive geophysical and geochemical datasets has highlighted a trio of platinum group element, or “PGE” prospects in the southern Youanmi tenement area, with historical drilling returning assays of up to 2.18 grams per tonne platinum and palladium.
The company’s assessment of the Youanmi Igneous Complex, which underlies much of the project area, has identified a suite of mafic-ultramafic intrusions in the area surrounding Currans Find, which appear to host nickel-copper-PGE sulphide mineralisation. The company says new PGE targets show marked geological similarities to Chalice Mining’s celebrated Julimar discovery, which was made in early 2020, just to the north-east of Perth.
Following up drill results from more than 13 years ago along with more recent ones, Venus Metals has now confirmed what it calls “highly prospective” magmatic platinum group elements (PGE) mineralisation at its Vidure South prospect, part of the company’s ground within the Youanmi complex of Western Australia.
The confirmation follows recent reverse circulation (RC) drilling in the southern part of the Youanmi igneous complex combined with historical data.
Together, these outline extensive PGE and base metals mineralised areas in mafic-ultramafic rocks.
Drilling targeting historical gold workings by Venus Metals has hit high grade gold at its Sandstone project in Western Australia, with a 1m section assaying at 38.92 grams per tonne.
The reverse circulation drilling of seven holes was carried out at the Range View and Western Ridge prospects.
One hole (BCRC120) returned 11m at 4.69g/t, including 5m at 9.03g/t and 1m at 38.92g/t, with mineralisation hit at 12m down hole.
Another hole, intercepted mineralisation 20m from surface and assayed 8m at 1.22g/t, including 1m at 4.48g/t.
ASX-listed gold explorer, Venus Metals Corporation has jagged a couple of high-grade gold hits from a round of reconnaissance drilling at the Range View prospect nearby its Bellchambers deposit as part of its historic 90 per cent-owned Sandstone gold project in WA.
Investors certainly liked the sound of the Range View drilling numbers, pushing Venus’ stock up 37 per cent in early trade on Friday to an intra-day high of 24¢ from a previous closing price of 17.5¢.
The Perth-based company recently completed a seven-hole RC drilling program for an aggregate 460 metres vectoring in on historical gold workings at the Range View and Western Ridge prospects. The two prospects are located 1.5 kilometres north-east and 2.6km north of Bellchambers, respectively.
Notable intersections at Range View were 11m at an average grade of 4.69 grams per tonne gold from 12m including an intriguing 1m at 38.92 g/t from 20m and 5m at 9.03 g/t from 18m, and 8m at 1.22 g/t from 30m including 1m at 4.48 g/t from 30m. Western Ridge returned a best assay of 1m at 4.35 g/t from 67m.