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Venus Metals and Rox Resources hit new gold mineralisation at Youanmi-OYG joint venture

By
Imelda Cotton
-
August 12, 2021



Venus Metals (ASX: VMC) along with joint venture partner Rox Resources (ASX: RXL) has intersected gold mineralisation in four reverse circulation drillholes at the Youanmi-OYG project near Mt Magnet in Western Australia.


The results were identified following a May drilling campaign and demonstrate strong potential for further increases to the project’s current resource base of 1.7 million ounces grading 2.85 grams per tonne gold.


Best assays were 17 metres at 5.14g/t gold from 151m including 11m at 7g/t from 156m at the Link prospect; 9m at 4.57g/t gold from 148m at Junction; and 2m at 10.02g/t gold from 268m at Youanmi South.




Link high-grade zone


The Link intersection is believed to have identified a high-grade zone in an area previously modelled as low-grade inferred resource material.

Assays received for two diamond extensional holes also at Link sit outside the current resource and demonstrate continuity of high-grade mineralisation at depth.

Best results were 6.53m at 2.42g/t gold from 288m including 1.71m at 6.0g/t from 289.2m and 3m at 3.47g/t from 309m; and 2.03m at 7.18g/t gold from 450.15m.

Parallel hanging wall lodes above this returned 3.8m at 2.4g/t gold from 432.2m and 1.28m at 2.71g/t from 406.72m.

Link is reported to be open for resource growth down plunge to the north and down dip.

Venus said the identification of high-grade mineralisation in step out and infill drilling continues to demonstrate the prospect’s potential for increased tonnage and grade figures reported in future resource estimations.

Junction and Youanmi South


Step-out drilling is continuing at the Junction prospect into untested areas of the Main Lode structure to follow up on recent results including 4m at 17.5g/t gold from 259m; 4m at 6.1g/t from 170m; 3m at 8g/t from 194m; and 3m at 7.1g/t from 243m.

An exploration hole was also drilled at Youanmi South which is interpreted to be a new zone of north-east striking, steeply north plunging mineralisation at the southern end of the Youanmi granite.

The hole aimed to follow up on high-grade intersections reported in 2019 of 4m at 11.2g/t gold from 110m and 1m at 28g/t from 176m.

It was drilled 90m down plunge of previous exploration by Rox which resulted in an intersection of 2m at 10.02g/t from 268m, and confirmed that Youanmi South is open at depth and along strike.

Venus said follow-up drilling was planned for the area.