Venus holds a 20% interest Curara Well, which encompasses five tenements for 89.7 square kilometres in Western Australia’s Gascoyne region. Venus is also free-carried through to a decision to mine.
AIC Mines has been firming up targets at Curara Well which is immediate south of TSXV-listed Superior Gold’s Plutonic gold mine and north-east of Sandfire Resources’ (ASX: SFR) DeGrussa copper-gold operation and Monty discovery.
During recent exploration, AIC Mines identified a “significant” surface geochemical anomaly at Curara Well.
AIC Mines noted the anomaly was similar in style to DeGrussa and Monty and situated in a similar setting.
However, it has never been drill tested.
According to the joint venture, preparations for a maiden drilling program are underway which is scheduled to begin in the December quarter.
Youanmi gold project
As well as the Curara Well joint venture, Venus has secured four separate joint ventures with Rox Resources (ASX: RXL) over the wider Youanmi gold project about 480km north-east of Perth in WA.
At the OYG joint venture which includes the historic Youanmi gold mine, Venus retains a 30% stake.
Rox has been actively drilling the region which uncovered “impressive gold grades” at the Grace prospect during the June quarter.
These results included 25m at 34.79 grams per tonne gold from 143m, and 6m at 140.7g/t gold from 150m.
A resource for OYG has been estimated of 1.19Moz gold.
Additionally, a near surface exploration target for OYG has been calculated that ranges between 2Mt and 2.6Mt at 1.05-1.3g/t gold.
A Deeps exploration target has also been set of up to 200,000t at 15g/t gold.
Recent metallurgical test work on ore from OYG including Grace has generating “encouraging gold recoveries” using standard gold processing circuits.