Venus identifies further bonanza grades at Currans Find

By Trevor Hoey. Published at Aug 27, 2019, in Mining

The Currans Find North Prospect continues to deliver stunning grades for Venus Metals Corporation (ASX:VMC).

Bonanza-grade gold intersections have previously been reported from Stage 2 reverse circulation (RC) drilling at the Currans Find North Prospect.

Results for one-metre samples taken from reported four-metre composite have significantly upgraded the previous results.

These included 3 metres at 32.6 g/t gold from 115 metres including one metre at 76 g/t gold from 115 metres.

There were also broader widths of shallow mineralisation including 4 metres at 9.2 g/t gold.

Similar mineralisation to Penny North

Combined with other impressive bonanza grade gold intersections such as one metre at 72.7 g/t gold from a shallow depth of 39 metres and another one metre intersection of 57 g/t gold from 110 metres, evidence is building that Currans Find could host similar high-grade mineralisation which is characteristic of nearby mining sites, including a recent discovery at Penny North by Spectrum Metals (ASX:SPX).

The close proximity to Penny North (grey area) is illustrated above with Currans Find lying to the north-west.

From a geological perspective, management highlighted that gold mineralisation at Currans Find is hosted in multiple east north-east quartz veins within mafic, ultramafic and intermediate rocks.

These rock types are also host to the Penny West and Columbia-Magenta deposits south of Currans Find, and they are a feature of the deposits that are consistent with very high gold grades.

Follow-up drill results are pending, suggesting there could be further share price momentum after these results had a positive impact on Tuesday.

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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