Extensional drilling at Youanmi gold project to deliver resource increase for Venus Metals and Rox Resources
Rox Resources and Venus Metals intercepted 8m at 37.25g/t gold, including 4m at 73.81g/t gold.
A series of high-grade drill intercepts have confirmed the extension of known high-grade mineralisation at the Link target within the Youanmi gold joint venture in Western Australia between Venus Metals Corporation (ASX: VMC) and Rox Resources (ASX: RXL).
Diamond and reverse circulation drilling has been focused on growing the resource inventory at Youanmi – which currently sits at 1.7 million ounces grading 2.85 grams per tonne gold – through resource extension and indicated resource conversion work in the near-mine areas.
The latest results demonstrate a strong continuity of previous high-grade mineralisation and could deliver strong increases to the inventory.
Best intercepts have been reported as 8m at 6.24g/t gold from 249m, including 3m at 12.1g/t from 250m; 0.5m at 77.49g/t gold from 277.8m; 0.75m at 19.66g/t gold from 270.9m; 1m at 11.05g/t gold from 389m; and 0.7m at 11.06g/t gold from 289.35m.
One of the holes extended a zone of known mineralisation more than 200m from the current resource, highlighting the extensive down-plunge continuity of high-grade ore zones.
Another hole indicated the mineralised structure continues down-plunge, with drilling around the zone likely to see increases in gram metre results.
Mineralisation at Link continues to remain open down-plunge to the northwest and up dip to the southeast.
Regional aircore drilling
Youanmi’s regional joint venture tenements were subject to an aircore drilling program of 424 holes for 22,337m during August and September.
This first phase of drilling was designed to test interpreted west-northwest trending secondary structures in the corridor between the Youanmi and Penny West gold deposits.
Targets included numerous demagnetised zones and untested helicopter-borne time-domain electromagnetic conductors over an 18km strike continuation of the Youanmi Shear Zone.
Importantly, aircore drilling penetrated well beyond the depths of historical (and largely ineffective) rotary airblast drilling, effectively testing the in-situ regolith beneath transported cover sequences.
Assays remain pending for all holes.