Venus strikes near surface high grade gold
Venus Metals Corporation Ltd (ASX:VMC) in conjunction with Rox Resources Ltd (ASX:RXL) has released promising results from an initial reverse circulation (RC) drilling programme at the Currans Find Joint Venture gold project, part of the Youanmi Gold Project, Western Australia.
The Currans Find project area is located within the Youanmi Greenstone Belt, approximately five kilometres north-northwest of the historical Penny West gold mine.
The broader area is characterised by high grade mineralisation, and early stage exploration prior to this extensive campaign had identified near surface high-grade gold.
Management explained that high-grade gold mineralization is associated with quartz veins that generally plunge to the south-west and steeply dip to the south-east.
The company has delivered outstanding results from shallow reverse circulation drilling.
Firstly, at Currans Find North intersections of 6 metres and 4 metres at grades of 9.8 grams per tonne gold and 5.7 grams per tonne gold were identified at depths ranging between 30 metres and 60 metres.
At the Red White and Blue workings there was a double-digit intersection of 10.8 grams per tonne from 25 metres, highlighting the quality near surface mineralisation.
Open along strike and down plunge
While the results indicate that there is continuity of high-grade gold mineralisation along strike, management stressed the particularly encouraging trend of grades increasing down plunge where mineralisation is also open.
The company said that the gold values appear to form clusters within broad envelopes of gold mineralised zones, similar to the setting at other deposits in the Penny West District, also renowned for its high grades.
Drilling will continue as part of a 25 hole program covering approximately 1200 metres, once again targeting shallow high grade gold mineralisation beneath historical workings at the two main gold prospects, ‘Currans Find North’ and ‘Red White and Blue Workings’.