VMC venus metals corporation limited
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Ann: High Grade Gold intersected at Sovereign Prospect, page-4

  1. m0ngy
    10,075 Posts.
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    18/09/20
    19:51
    Post #: 47462743

    The significant of the high-grade gold intersections (below) over a target zone of at least 900m is much more than the steady accumulation of a resource. The mineralisation is Penny West style and close to both the fabulously rich historical Penny West and Penny West North.

    Spectrum’s drill program that discovered Penny West North followed up an isolated single hit of 1m at 6.47g/t gold from 92m located north of the historic pit. In the results below with the upper and lower lodes you can see that there is an active search for the deeper Penny West mineralisation.

    Venus is following up the single hits to find out if there is another Penny West at depth. Similarly along strike from Penny West at the South Deeps the RC drilling is going to bedrock.

    Sabre, Aldoro and Cullen are also in the Penny West search using limited AC drilling. Despite small tenements and having found absolutely nothing at all their share price is justifiably reflecting the chance of a major find that could add $200m to their MCs. Not so with Venus which is priced at less than it's resources let alone what it could find.. Today the market yawned.


    When Spectrum first found high grade gold at Penny West their SP jumped 75% in a single day and that was just the start.
    Here are the Venus JV hits so far.    CFRC26 - 3m @ 32.58 g/t Au from 115m from 115m

    CFRC42 - 4m @ 9.25 g/t Au from 46m

    CFRC16 - 3m @ 27.5 g/t Au from 39m

    CFRC14 - 2m @ 13.34 g/t Au from

    CFRC31 - 3m @ 25.00 g/t Au from 109m

    CFRC32 - 1m @ 39.61 g/t Au from 94m (Lower Lode)

    CFRC46 - 1m @ 13.32 g/t Au from 110m (Upper Lode)

    2m @ 3.84 g/t Au from 128m (Lower Lode)

    CFRC47 - 4m @ 5.28 g/t Au from 90m (Upper Lode)

    2m @ 5.05 g/t Au from 111m (Lower Lode) YSRC104. 8m @ 5.03g/T Au. from 160m

    CFRCO84. 3 @ 19.58. from 21m

    CFAco47. 2m # 6.7 from 57mhttps://hotcopper.com.au/data/attachments/2485/2485499-32d5bddff3c1109c73ef13906dbf4ad7.jpg

    VMC Price at posting: 25.0¢ Sentiment: Buy Disclosure: Held
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