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.
Venus Metals Corporation has been granted new exploration ground in the north west of Western Australia in an area prospective for nickel, copper, platinum, palladium, gold and rare earth elements (REE).
The granted tenement EL 09/2422, along with three additional licence applications, are in the name of Venus’ wholly-owned subsidiary Redscope Enterprises and cover 546 sq km in the state’s Gascoyne region.
According to the explorer, several northwest trending Narimbunna igneous intrusives (dolerite and gabbro sills) and north-northeast trending Mundine Well dolerites, dykes, sills and small intrusions located within the project area are considered “highly prospective for magmatic nickel-copper-platinum-palladium mineralisation similar to that discovered in the Money Intrusion.
Gold and base metals explorer Venus Metals Corporation has announced the start of phase one aircore (AC) drilling at its Henderson gold-nickel project in Western Australia’s eastern goldfields.
The Henderson project is situated along the southern section of the Ularring Greenstone Belt, about 50km northwest of Menzies, WA.
The project comprises five exploration licences covering about 800sq km. The current drilling is focused on tenement E30/520, which is held 90% by Venus and 10% by a prospector.
In today’s market update, Venus said the drilling will test structurally controlled gold targets that were identified last year in a review of historical exploration data and geological and geophysical interpretations.
ASX-listed explorer Venus Metals has launched into an air-core drilling campaign at its Henderson gold-nickel project in the Eastern Goldfields of Western Australia where it is targeting structurally controlled gold associated with two fault zones crossing the tenure. Several historical gold operations near Henderson are believed to be connected to the faults and there is a 322,000-ounce gold resource just 15km away.
Covering some 800 square kilometres, Henderson consists of five exploration licences along the southern part of the Ularring Greenstone Belt about 50km north-west of Menzies.
Venus’s phase-one drilling campaign will focus on a 90 per cent owned concession crossed by the Ida Fault and the Ballard Fault at the southern end of the tenure.
Management believes the two significant fault zones may have been integral to the formation of structurally controlled gold deposits in the region.