Venus Metals and Rox Resources extend known gold at Link within Youanmi joint venture

Venus Metals Rox Resources ASX VMC RXL gold Link Youanmi joint venture
In the latest assay batch, notable results were 4m at 7.2g/t gold from 131m, including 2m at 12.6g/t gold.

Venus Metals Corporation’s (ASX: VMC) joint venture partner Rox Resources (ASX: RXL) has continued to hit high-grade gold at the Link target within the Youanmi gold project in Western Australia.

The joint venture has now received assays from a further eight holes of the reverse circulation program.

All holes hit gold mineralisation and extended the known high-grade mineralisation at Link by 100m beneath the historic United North pit.

Notable assays from this latest batch were 4m at 7.2 grams per tonne gold from 131m, including 2m at 12.6g/t gold; 4m at 2.7g/t gold from 164m; and 1m at 5.2g/t gold from 220m.

Rox managing director Alex Passmore said the companies were pleased with the near mine extensional drill results.

“The structural targets down plunge of historic pits that comprise Link are close to historic mine development and have the potential to add to mineable inventory for relatively low cost,” he added.

Assays are currently outstanding for 13 holes.

Drilling continues at Youanmi

With assays outstanding, RC drilling is continuing at the project – targeting Link, Junction and Grace.

The program is designed to boost near-mine resources as well as refine the deeper targets for an upcoming extensive diamond drill program.

It is expected the current RC program will feed into an updated mineral resource as well as a definitive feasibility study.

Ongoing exploration at Youanmi during 2021 will comprise substantial RC and diamond drilling along with metallurgical, hydrogeological, geotechnical and environmental studies.

These are expected to facilitate an updated and optimised development plan.

Youanmi gold joint venture

Venus retains a 30% stake in Youanmi which is 480km northeast of Perth.

Historically, Youanmi has produced 667,000 ounces of gold since 1901. The average grade was 5.47g/t gold.

The project has a JORC resource of 12.4Mt at 2.97g/t gold for 1.2Moz. This includes a near surface section of 10Mt at 1.65g/t gold for 532,000oz and the Youanmi deeps sulphide zone of 2.4Mt at 8.5g/t gold for 658,000oz.

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