Venus Metals (ASX: VMC)
Gold explorer Venus Metals had a big news week after drilling at the Sovereign prospect within the Youanmi gold joint venture with Rox Resources returned high-grade gold.
At Sovereign, drilling expanded the known mineralisation with best assays of 10m at 3.64g/t gold from 79m, including 2m at 10.64g/t gold from 82m; and 4m at 2.68g/t gold from 116m, including 1m at 5.43g/t gold from 118m.
Over at the Venus’ 30%-owned OYG joint venture (also with Rox), drilling at the Grace prospect uncovered a 49m wide zone of mineralised gold.
The zone was made up of two main intervals: 25m at 2.39g/t gold from 173m, and 24m at 1.04g/t gold from 145m.
Rox managing director Alex Passmore said the “impressive, high-grade results” at Grace were “exciting” as was the thick zone that was intersected which demonstrates the potential for “significant tonnages”.
Ann: Quarterly Activities Reprt and Cash Flow Report, page-8
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