Venus were quick to snap up tenements on strike from the bonanza...

Venus were quick to snap up tenements on strike from the bonanza grade Penny West a rich historical mine that had visible gold in quartz veins up to 5 m wide.That judgement seemed confirmed by the discovery of Penny West North and Magenta by Spectrum, subsequently sold to Ramelius who are building their mines for both projects next year. There could still be another Penny West or 2 on strike and the Venus JV is currently drilling a series of compelling targets at Penny West Deep South.
But recent discoveries suggest that there are NE fault splays running off the Younami Shear Zone. These fault splays are very likely to host high grade gold. Penny West mineralisation extends into the Sovereign and Taylors Reef finds and Sabre reports fault splays running through its tenement (shaded). Significantly for Venus the gold rich geology is now very close to its tenements that were previously considered long shots (see map). These are not part of the JV with Rox, they are 100% VMC. No doubt Venus are watching the situation with interest and they are well cashed up for independent exploration of their 100% owned tenements. At the moment Venus is busy with its operational role drilling Sovereign and Penny West Deep South but the day will come when they begin independent exploration of their 100% tenements. A Penny West discovery would add at least $200m to the companies value.