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.
Venus Metals Corporation has announced plans to carry out ground electromagnetic (EM) surveys over high-priority nickel-copper-platinum group elements (PGE) targets at its recently acquired Bridgetown East project in Western Australia.
The gold and base metals explorer today provided an update to the market on its wholly-owned exploration permits following initial fieldwork and targeting.
Venus picked up the two tenements in October. The ground includes the prospective north-eastern part of an approximate 20km long structure named ‘Thor’, which is believed to be similar to Chalice Gold Mines' Julimar nickel-copper-PGE discovery.
ASX-listed explorer, Venus Metals Corporation, says it has picked up a couple of early polymetallic sniffs at its Bridgetown East nickel-copper-PGE project in WA’s south-west region as the company looks to emulate the feats of Chalice Mining following its exciting Gonneville nickel-copper-PGE discovery at the Julimar project further north.
Recent reconnaissance surface sampling done by Perth-based Venus encountered platinum-palladium-copper anomalies in laterite, which together with historical data point to what the company says are high-priority targets in mafic‐ultramafic rocks prospective for potential nickel‐copper‐PGE mineralisation.
Venus now plans to undertake further surface sampling and detailed ground electromagnetic surveying work across several geochemical targets and previously identified airborne electromagnetic anomalies. A subsequent round of drilling is proposed.
A reverse circulation (RC) drilling campaign has kicked off at prospects within the Youanmi gold project in Western Australia, jointly-owned by Venus Metals Corporation and Rox Resources.
Drilling will focus on the Youanmi North, Sovereign and Taylor’s Reef targets for a total 2,200m and is expected to be completed within two weeks.
Youanmi North is located at the granite-greenstone contact along the Youanmi shear zone north of the Youanmi gold mine, where a recent detailed ground magnetic survey identified structural targets.
Two of these targets are broadly associated with anomalous gold intersections in historical drill holes, and with a north-trending gold anomaly in historical soil data which extends into granite terrain.