The Sandstone Gold Project is within tenement E57/984 (125 km2; 90% VMC). The Bellchambers mining area, first reported by Gibson in 1908, is located about 23 km southwest of Sandstone (Figure 1) and is 70km by road northeast of the Youanmi Gold Field. Historical reported gold production is 3,688 ounces of gold from 5,620 tonnes of ore at an average grade of 21 g/t gold.
Sandstone Bellchambers Gold Project Figure 1.
Gold mineralisation at Bellchambers and the Range View satellite deposit (Figure 1; refer to ASX release 26 March 2021) is hosted within a northeasterly trending and steeply dipping sequence of sheared sulphide-rich sediments and mafic rocks, interlayered with thin chert and Banded Iron Formation (BIF). The gold mineralisation shows similarities with typical BIF – hosted gold mineralisation reported from the central section of the Sandstone Greenstone Belt.
HIGHLIGHTS:
The new JORC2012 gold resource estimate is 722,000 tonnes @ 1.31 g/t Au for 30,500 ounces, with 22,100 ounces classified in the indicated mineral resource category.
Increase of 35% in tonnes and 40% in ounces at 0.5 g/t Au cut-off
Bellchambers JORC 2012 Resource Summary Table 1.
The mineralised zone is traced to a vertical depth of 175m below the surface; the deposit remains open at depth.
Gold intersections from the recent drilling programme include:
BCRC141; 34m @ 1.25 g/t Au from 160m incl 11m @2.93 g/t Au;1m @ 9.47 g/t Au from 178m
BCRC142; 25m @ 1.19 g/t Au from 86m incl 4m @ 2.06 g/t Au,
BCRC143; 17m @ 1.16 g/t Au from 155m incl 4m @ 2.12 g/t Au,
Exploration at Bellchambers is ongoing, and studies will be instigated. Venus has agreed with Rox Resources Ltd (ASX: RXL) to negotiate a mine gate sale agreement for the Bellchambers deposit on a best endeavours basis (subject to certain conditions; see ASX release 31 March 2023).
The recent drilling programme (refer to ASX release 21 February 2023) specifically targeted the depth continuation of the up to 30m wide and steeply plunging core of the southern mineralised domain outlined in the Bellchambers 2020 resource model (refer to ASX release 25 September 2020). It also included a single hole drilled at the Range View gold prospect. All three Bellchambers drill holes intersected significant zones of gold mineralisation that spatially agree with the projected down-plunge continuation of the 2020 resource model, extending the vertical depth of known mineralisation from about 100m to 175m from the surface. These very encouraging results allowed for a significant increase in calculated mineral resources for the Bellchambers gold deposit.
BELLCHAMBERS JORC2012 RESOURCE ESTIMATE SUMMARY MARCH 2023
The following subsections are consistent with ASX Listing Rule 5.8.1, with further information in the JORC Code (2012) – Table 1.
Venus commissioned Widenbar and Associates (“WAA”) to produce an updated Mineral Resource Estimate for the Bellchambers Gold Deposit.
Data used as part of the mineral resource estimate include historical drilling date for 51 RC holes and four diamond holes, in addition to data for 14 RC holes drilled by Venus in 2019 – 2023 (including 3 RC holes drilled at Bellchambers) (Figure 2).
Plan view of 2023 Bellchambers mineralisation wireframe with drill hole traces Figure 2.
Please refer to ASX release : Amendment to Sandstone Gold Project Updated Resource BellchambersDeposit 4 April 2023 for further information.