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Venus Metals Corporation Ltd.
Summary
| Project: | Youanmi | |
|---|---|---|
| Deposit: | Youanmi | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-6-2018: Venus Metals Corporation Ltd. announces a Resource Estimation report for its Youanmi deposit at the Youanmi project. Updated mineral resource estimate at Younami. The Directors of Venus Metals Corporation Limited (“Venus”) are pleased to announ | |
| Resources: | (Resource, I+I): 10.07Mt @ 1.65g/t Au for 532.7Koz Au contained at Younami near surface | |
| CP/QP: | [Resources]: Lynn Widenbar (Widenbar and Associates Pty Ltd.) | |
| ABSTRACT: | The Directors of Venus Metals Corporation Limited (“Venus”) are pleased to announce that the total JORC 2012 Compliant Resource Estimate for the Youanmi Gold Mine has now increased significantly to 1,190,600 ounces of gold. Widenbar and Associates (Widenbar) was commissioned by Venus to provide an updated JORC 2012 Mineral Resource Estimate for the Youanmi Near Surface Deposits which is shown in Table-1. Venus has entered into two option agreements to enable it to purchase the historical Youanmi Gold Mine (MLs), and all associated infrastructure and the mine village (refer ASX release 28 May 2018). The Youanmi Gold Mine is located 480km to the northeast of the city of Perth, Western Australia. The project is accessed by the sealed Great Northern Highway for a distance of 418km from Perth to Paynes Find and thence for 150km by the unsealed Paynes Find to Sandstone road (Figures 1 and 2). The Youanmi Gold Mine has historic production of 667,000 ounces of gold grading 5.42 g/t from open pit and underground operations conducted between 1908 and closure in 1997. Substantial indicated and inferred resources remain at the Youanmi Mine. | |
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