Venus Metals hits high grade gold at historic Sandstone project

Venus Metals ASX VMC Sandstone project gold drilling
Venus Metals has interpreted this as a potential southern extension of the Range View gold lodes that were mined in the early 1900s.

Drilling targeting historical gold workings by Venus Metals (ASX: VMC) has hit high grade  gold at its Sandstone project in Western Australia, with a 1m section assaying at 38.92 grams per tonne.

The reverse circulation drilling of seven holes was carried out at the Range View and Western Ridge prospects.

One hole (BCRC120) returned 11m at 4.69g/t, including 5m at 9.03g/t and 1m at 38.92g/t, with mineralisation hit at 12m down hole.

Another hole, intercepted mineralisation 20m from surface and assayed 8m at 1.22g/t, including 1m at 4.48g/t.

Range View is located 1.5km northeast along strike from the company’s Bellchambers gold deposit while Western Ridge lies 2.6km north of Bellchambers.

The BellChambers gold project, under exploration licence E57/984, is about 23km southwest of the historic mining town of Sandstone, adjoining the Sandstone-Paynes Find main road.

It is one of three projects Venus acquired in 2014 from a prospector, the latter retaining a 10% interest.

Area has high grade production history

Venus has described Bellchambers as having a high-grade production history.

The recorded gold production from 1907 to 1942 is 3,979t for 2,682 ounces at 20.96g/t.

Of the prospects just drilled, Range View is the larger electromagnetic target and extends along more than 2km of strike, and goes to a depth of more than 500m.

The company says recent reverse circulation drilling of BCRC120 beneath previous historical (and shallow) drilling identified the high grade gold mineralisation at Range View.

The gold mineralisation is open at depth and to the east.

Venus has interpreted this as the potential southern extension of the Range View gold lodes that were mined in the early 1900s.

Diamond drilling now planned

In addition, 30 air-core holes totalling 1,646m were drilled along the Western Ridge-Mickey Well gold trend.

Venus claims the drilling highlights the prospectivity of the Range View gold prospect along the Bellchambers-Range View gold trend.

Further reverse circulation and diamond drilling is planned to explore this target area.

Last September the Perth-based company increased the JORC-compliant indicated and inferred mineral resource estimate for Bellchambers to 536,000 tonnes grading 1.27g/t for 21,800 contained ounces.

The updated resource represented a 58% increase in tonnes and a 29% growth in contained gold.

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