Venus completes drilling at Red White and Blue Gold prospects

By Jonathan Jackson. Published at Nov 21, 2019, in Mining

Venus Metals Corporation Limited (ASX:VMC) announced today that it has completed RC drilling at the Red White and Blue Gold Prospect at its Currans Find Joint Venture gold project.

Venus and joint venture partner Rox Resources, have been successful in extending the strike length of the gold mineralisation.

Highlights include RC hole CFRC051, which intersected high-grade gold mineralisation associated with anomalous copper and lead.

The presence of gold here is significant as it is a potential indicator of high-grade gold mineralisation of the Penny West and Currans North-style gold mineralisation.

Location of drill holes at Curran’s Find.
Location of drill holes at Curran’s Find.

Venus will turn its attention to further RC drilling to explore the gold zone down-plunge and along strike.

One of the best results from the recent RC drilling at the Red White and Blue Prospect was CFRC0519m @ 3.27 g/t from 35m, including 2m @ 8.35 g/t from 38m.

RC drilling at the Currans North Prospects also extended the gold-mineralised zone.

The best results from Currans North include:

  • CFRC071 - 2m @ 5.60 g/t from 163m
  • CFRC074 - 1m @ 5.40 g/t from 87m
  • CFRC076 - 1m @ 4.80 g/t from 86m
  • CFRC069 - 2m @ 3.26 g/t from 144m
High grade gold mineralisation with best gold results.
High grade gold mineralisation with best gold results.

The gold mineralisation remains open at depth and warrants further drilling to target potential high-grade zones down plunge.

Current results come as no surprise and are in line with past results at Currans Find.

In particular, Currans North has delivered excellent results, with gold mineralisation at Currans Find in general, often showing very high grade.

Mineralisation is hosted in multiple ENE – trending quartz veins within mafic, ultramafic and intermediate rocks, which can also be found at the Penny West and Columbia – Magenta deposits south of Currans Find.

The most recent drilling (totalling 1134m in 7 holes) intersected the upper lode at a vertical depth of 140m and further drilling is planned to test the bedrock for potential high-grade gold zones at deeper levels.

Recent RC drilling at the Red and Blue prospects in particular, totaling 1446m in 15 holes, intersected multiple quartz lodes hosted in dominantly intermediate and mafic rocks.

The best intersection of 2m @ 8.3 g/t Au in hole CFRC051 shows anomalous concentrations of copper and lead and associated pathfinder elements, a geochemical signature that is very similar to that commonly occurring with high‐grade and bonanza‐grade gold zones at Currans North, and that is also characteristic of the gold mineralisation at the historical Penny West gold mine.

The Red White and Blue gold lode so far only extends to a vertical depth of approximately 55m. Further RC drilling is planned to explore the down plunge extension of the high-grade gold lode.

Drilling will also test several other quartz lodes at Red White and Blue for potential high-grade gold mineralisation at depth.

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.

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