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Venus Metals Corporation Ltd.
Summary
| Project: | Youanmi | |
|---|---|---|
| Deposit: | Youanmi | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/15/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-10-2019: Venus Metals Corporation Ltd. announces an Exploration/Drilling Update report for its Youanmi deposit at the Youanmi project. JV with Rox Resources - AC drilling results. Venus Metals Corporation Limited (“Venus” or the “Company”) in conjuncti | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: M. Cornelius (Internal) | |
| ABSTRACT: | Venus Metals Corporation Limited (“Venus” or the “Company”) in conjunction with its Joint Venture partner Rox Resources Limited (ASX: RXL), is pleased to announce the results of an air core drilling program totalling 5,774m in 114 holes at its Youanmi Gold Project (Figure 1), north of the historical Penny West gold mine and the historical Magenta and Columbia gold prospects. Air core (AC) drilling discovered two gold anomalies (max. 0.73 g/t and 0.17 g/t Au in VRAC039 and VRAC085 respectively), spatially associated with anomalous lead concentrations of up to 0.15% and zinc concentrations of up to 0.28% in VRAC055 (Figures 2 and 3). A third gold anomaly (max. 0.16 g/t Au) in hole VRAC079 is associated with anomalous copper concentrations with a maximum of c. 0.23% copper within an interval of 24m at c. 0.1% Cu from 32m depth. Recent geochemical studies by the Joint Venture have shown, the association of gold with anomalous lead, zinc and copper characterizes many high‐grade gold intercepts at Currans North (refer ASX release 5 August 2019) and an association with base metals, and lead in particular, has also been reported from the historical Penny West gold mine (Radford & Boddington 2003). The discovery of gold – lead – zinc ‐ copper anomalies along strike from the Penny West gold mine and less than 2km east of the Currans Find North high‐grade gold mineralization is therefore considered highly significant. | |
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