Infill drilling at the emerging Grace prospect adjacent to the Youanmi mill in WA’s Goldfields has thrown up more stellar gold intercepts for the ASX-listed JV partners, Venus Metals and Rox Resources, including 2m at 176.03 g/t from 28m, within a total interval of 4m at 88.81 g/t gold from 27m. The current drill program is extending the limits of the shallow deposit ahead of an estimate of contained resources with further, deeper results still pending.
Ground magnetic surveying will be carried out along the length of the Youanmi shear zone between the Youanmi mine and north of Penny West.
Venus Metals Corporation Ltd is encouraged by the progress being made with exploration at the Youanmi regional gold joint venture projects in Western Australia
These are held in various joint ventures with Rox Resources Ltd, the partners preparing for reverse circulation (RC) and aircore (AC) drilling at Penny West Deep South prospect within the wider Youanmi exploration project.
A recently completed ground magnetic survey totalling 232-line kilometres generated six new targets and an additional 14 new targets have been prioritised based on the HEM survey and recent AC drilling results.
Venus Metals Corporation has received a further boost to its war chest with battery metal focussed eMetals Ltd this week forking out $160,000 to complete the purchase of Venus’ Poona Lithium project in WA. The sale allows Venus to shift its focus to a range of new project areas in the fertile terranes surrounding the Youanmi mining region.
This payment closes the second deal between the two companies for 2020, with the eMetals having purchased the Nardoo project from Venus back in March.
Venus Metals Corporation Limited has completed the sale of its non-core Poona Lithium-Caesium-Tantalum (LCT) project in WA’s Murchison region to eMetals Ltd.
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.
Venus Metals Corporation Limited has completed extensive exploration on its projects over the March quarter. At the Youanmi Gold Mine five separate pits occur over a two-kilometre strike length.