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Venus Metals Corporation Limited: Link Prospect Continues to Deliver High Grades - Youanmi

22.07.2021 | 2:38 Uhr | ABN Newswire
Perth, Australia - West Australian focused gold exploration and development company, Rox Resources Ltd. (ASX:RXL), in conjunction with its joint venture partner Venus Metals Corporation Ltd. (ASX:VMC), is pleased to provide an update on drill results from the Youanmi Gold Project near Mt Magnet, WA, in the OYG JV area (Rox 70% and Manager, VMC 30%).

Highlights:

- High-grade mineralisation extended down plunge at Link with new results 80m down plunge of known mineralisation and outside existing resources.

- Assays received from first diamond hole drilled at Link Prospect with two zones intersected:

RXDD018: 6.8m @ 11.98g/t Au from 264m, including 2m @ 37.65g/t Au from 269m. Parallel mineralised zone above this also showed 4.9m @ 6.51g/t Au from 250m.

- Assays pending for 8 RC holes and 9 diamond holes from Junction and Link areas. Drilling is ongoing.

Drilling continues at Youanmi with three Diamond drill rigs and an RC rig operating on site. An aircore rig is set to join the program shortly for regional exploration.

Assay results have been received from the first diamond hole at the Link Prospect and two RC holes from resource growth drilling being undertaken at Link (Figure 1*). Results are pending for nine diamond holes and eight RC with drilling ongoing.

Highlights of this round of results include 6.82m @ 11.98g/t Au from 264m, including 2m @ 37.65g/t Au from 269m and 4.92m @ 6.51g/t Au from 250m intersected in RXDD018 (Table 1, Figure 1*).

The results define a zone of high-grade mineralisation more than80m from the current resource within close proximity to both the base of historic open pits and in some cases close to existing underground development (Figures 1 & 2*). New mineralisation in this zone should add inventory in an area of resource that Rox is keen to grow in terms of ounces per vertical metre (Figure 3*).

Managing Director Alex Passmore commented: "We are very pleased to announce ongoing successful results at Link Prospect. The exploration model at Youanmi continues to deliver very robust results."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/88Z5G0VD



About Venus Metals Corporation Limited:

Venus Metals Corporation Ltd. (ASX:VMC) is a West Australian based Company with a focus on gold and base metals exploration. The Company aims to increase shareholder value through targeted exploration success on its projects.

The Company's major gold project is the Youanmi Gold Mine, located 500km north east of Perth. The Youanmi Gold Mine is now jointly owned by Venus Metals (30%) and Rox Resources Limited (70%) (OYG JV); Indicated and Inferred Resources of the mine is 1.7 million ounces of gold.

Exciting new discoveries at the Youanmi Gold Mine have been made at the Grace prospect in footwall granites where very high grades of free milling gold have been intersected, including 25m @34.7g/t Au from 143m (RXRC 287) and 13m @60.49 g/t from 181m (RXRC 239). The Grace Prospect may substantially add to the Youanmi Gold Mine resources.



Source:
Venus Metals Corporation Ltd.



Contact:

Matt Hogan Managing Director Venus Metals Corporation Ltd. Tel: +61 8 9321 7541

 
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