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Venus completes drilling at Red White and Blue Gold prospects


Published 21-NOV-2019 12:23 P.M.


2 minute read

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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.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

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