Venus Metals and joint venture partner Rox Resources have intersected gold mineralisation in four reverse circulation drill holes at the Youanmi-OYG project near Mt Magnet in Western Australia.
The results were identified following a May drilling campaign and demonstrate strong potential for further increases to the project’s current resource base of 1.7 million ounces grading 2.85 grams per tonne gold.
Best assays were 17m at 5.14g/t gold from 151m, including 11m at 7g/t from 156m at the Link prospect; 9m at 4.57g/t gold from 148m at Junction; and 2m at 10.02g/t gold from 268m at Youanmi South.
Reverse circulation drilling has expanded the known mineralisation at Venus Metals' Youanmi platinum group element and base metals project in Western Australia.
Drilling was undertaken at Venus’ majority-owned prospects Vidure, Vidure South and P57/1365 and followed up on PGE-base metal hits from 2019 of 38m at 0.78 grams per tonne platinum and palladium from 20m, including 12m at 1.32g/t platinum and palladium.
Best intersections in this latest campaign were 30m at 0.95g/t platinum, palladium, gold, plus 0.22% copper and 0.24% nickel from 40m, including 11m at 1.12g/t platinum, palladium, gold, plus 0.18% copper and 0.26% nickel from 52m, and 3m at 1.64g/t platinum, palladium gold, plus 0.32% copper and 0.42% nickel from 66m.
Venus Metals has nailed a broad platinum group element drill intercept at its Youanmi PGE and base metals project in the Murchison district of Western Australia, with a 30m hit grading 0.95 grams per tonne combined platinum, palladium and gold, 0.22 per cent copper and 0.24 per cent nickel from 40m depth. The intersection extended mineralisation some 50m west of a previous thick intercept.
The new broad hit at the company’s 90 per cent owned Vidure prospect also featured two higher-tenor intervals of 11m going 1.12 g/t platinum, palladium and gold, 0.18 per cent copper and 0.26 per cent nickel from 52m, in addition to 3m at 1.64 g/t platinum, palladium and gold, 0.32 per cent copper and 0.42 per cent nickel from 66m.
Venus says the PGE mineralisation remains open along strike and at depth.
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.
The new intercept comes on the back of assays from one diamond drill hole and two reverse circulation holes at the Link prospect in the northern end of the mineralised envelope defined at Youanmi.
The high-grade hit features a 2m interval going an eye-catching 37.65 g/t gold from 269m.
In addition, drilling intercepted a parallel mineralised zone above the high-grade interval with a solid 4.92m hit grading 6.51 g/t gold from 250m.
The latest assays add to recent results at Link where one hole delivered 3m at 4.42g/t from 101m and 5m at 5.96g/t gold from 138m.
Other recent hits include 4m at 3.71 g/t from 216m and 4m at 2.98 g/t gold from 162m.
The intercepted mineralisation lies near historical open pits with some results close to an old underground mine being considered by the partners for development.
Youanmi historically produced 667,000 ounces at 5.47 g/t gold from several open pits and underground mines until its closure in the 1990s.
Exploration company Venus Metals Corporation has reported high-grade results from resource growth drilling at the Link prospect within the Youanmi gold joint venture near Mt Magnet in Western Australia.
Assays from the first diamond hole and two reverse circulation holes have defined two new zones of mineralisation more than 80 metres from the current resource and within close proximity to the base of the historic open pit and underground developments.
Highlights from the first zone included 6.82m at 11.98 grams per tonne gold from 264m, including 2m at 37.65g/t from 269m.
Venus Metals has pounced on a hefty 546 square kilometres of exploration ground prospective for nickel, copper, platinum group elements, gold and rare earths in the renowned Gascoyne region of Western Australia. Two of the new licences, one granted and one under application, adjoin tenure hosting a 1km-long outcropping structure where rock chip samples have returned 1 per cent copper and 0.6 per cent nickel.
The neighbouring ground is being worked under a farm-in agreement between Dreadnought Resources and First Quantum Minerals, who are targeting nickel-copper-platinum-palladium mineralisation associated with the mafic-ultramafic ‘Money Intrusion’.
The farm-in involves some serious exploration spending with First Quantum needing to outlay $15 million to earn 51 per cent in the venture.
The outcropping structure, which also delivered rock chip samples of 0.04 per cent cobalt and 0.3 grams per tonne combined platinum-palladium-gold, lies in the northern part of the Money Intrusion only 3km from Venus’ new ground.th.