Gold clad lawyers ?
YALGOO GOLD PROJECT
SPECTROLAB ASSAY RESULTS REPORTED 31 OCTOBER 2011
The Directors of Venus Metals Corporation Limited refer to the announcements to the Australian Securities Exchange (ASX) on 31 October 2011 and 3 November 2011 regarding the erroneous gold assays from one metre sampling of drill hole YGRC 156 and composite five metre sampling from four holes (YGRC 137, 140, 141 and 144) completed at the Yalgoo Gold Project prepared by Spectrolab Pty Ltd (Spectrolab).
On 2 November 2011 the Company has sought further assays of the same samples from another independent NATA accredited laboratory, SGS Australia Pty Ltd (SGS) and negligible gold was detected in one metre sampling of drill hole YGRC 156. SGS has now informed the Company that negligible gold was detected for sampling from drill holes YGRC 137, 140, 141 and 144.
Spectrolab has also informed the Company that further re-assays of the samples by another independent laboratory, Ultratrace has shown that the previous results provided by Spectrolab to the Company were completely wrong.
The Company has relied on Spectrolab as a NATA accredited laboratory and released the assay results to the ASX 31 October 2011.
Given the repeated errors by Spectrolab, the Company is considering its legal position.
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