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.
Venus Metals has stumbled across a new gold discovery after getting the drill rods spinning again in the hills around Youanmi, Western Australia.
The Hope prospect, within the Youanmi JV area, turned up gold mineralisation in fresh granite adjacent to the area’s classic granite-greenstone contact, with one RC drill hole hitting 1m at a solid 9.3 g/t gold from 103m downhole.
A second hit returned 3m at 1.5 g/t from a shallower 45m at Hope, just 2km north of Venus’ and JV partner Rox Resources’ high-grade Youanmi mining leases. The company’s first pass RC drill program at Hope was targeting historical drilling and soil anomalies on behalf of the Venus-Rox JV, chasing a granite-hosted gold target of several hundred metres in length.
Venus is drilling up a storm as it tags a swag of emerging prospects across the fertile gold ground, all within yelling distance of the mothballed historic gold operation at Youanmi.
Venus Metals Corporation has released a comprehensive outline of recent drilling at its joint venture for the historic Youanmi project in Western Australia.
The latest development is that gold mineralisation has been discovered in granite north of the Youanmi mining leases.