Venus and Rox identify further high-grade gold at Youanmi
Joint venture partners Venus Metals Corporation (ASX:VMC) and Rox Resources Limited (ASX:RXL) have released further promising results from their ongoing drilling campaign at the OYG JV which forms part of the wider Youanmi Gold Project.
Rox has drilled over 11,000 metres and has received results for around 80% of this amount.
The drill program total meterage will be in the order of 16,500 metres.
Recent drilling has been focused on the Plant Zone (potentially base load mill feed) and the high-grade Commonwealth Prospect.
The focus will move to the Youanmi South Prospect next week following completion of geophysical surveying.
The Youanmi South Prospect has previously returned some of the best drill intersections of the current drill program, including 12 metres at 12.7 g/t gold from 80 metres, 12 metres at 8.5 g/t gold from 44 metres and 4 metres at 11.2 g/t gold from 110 metres.
Upcoming resource estimate represents pivotal milestone
Reverse circulation drilling will continue through November, leading to resource estimation thereafter.
Consequently, there are several share price catalysts in the mix, something that Venus shareholders appear to have have latched onto since June as the company’s shares increased nearly three-fold.
With few dry holes and some stunning grades identified across the extensive exploration program, one would expect that there is the potential for this share price momentum to be sustained, particularly with a maiden resource estimate imminent.
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.