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Venus Metals and Rox Resources report growth potential from latest assays at Link gold target

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By Imelda Cotton - 
Venus Metals VMC Rox Resources RXL ASX assays Link gold target Youanmi Western Australia
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Venus Metals (ASX: VMC) and joint venture partner Rox Resources (ASX: RXL) have reported more high-grade drilling results at the Link prospect within the Youanmi gold project in Western Australia.

The third batch of assays from a 24,000 metre resource development program included some of the deepest holes drilled to date at 475 metres below surface, highlighting the potential for significant resource extensions at depth.

Best intersections were 6.38m at 4.45 grams per tonne gold from 381.84m including 2.56m at 8.26g/t; 4m at 5.67g/t gold from 257m; 5.96m at 5.34g/t gold from 314.21m; and 4.21m at 5.21g/t gold from 303.86m.

Other assays were 3m at 5.47g/t gold from 344.3m and 4.72m at 4.59g/t gold from 492.07m including 1.95m at 8.49g/t; and 1.99m at 18.52g/t from 450m.

Growth potential

Rox managing director Robert Ryan said the results have built resource confidence for the partners and highlighted the growth potential at Youanmi.

“We are very pleased with the outcomes of this infill program, which reinforces the continuity and endowment of the deposit and supports our strategy to upgrade the inferred portions of the mineral resource to the higher-confidence indicated category,” he said.

“The results highlight the potential for future resource extensions at depth, especially considering that high-grade mineralisation has been intersected on the main lode at 970m below surface.”

Resource upgrade

Drilling at Link has targeted a resource upgrade over a strike length of 460m and between 230m and 475m below surface.

The program was designed to delineate sufficient indicated resources for future feasibility studies and to confirm the continuity of gold grades proximal to current indicated resources.

Mr Ryan said assays received to date have provided confidence in the geological interpretation and bode well for improving resource confidence as part of future updates, while highlighting the down-dip potential of the ore zone.

Game-changing discovery

Drilling continues at the Youanmi project with a reverse circulation program to test the “game changing” Paddy’s Lode discovery for supergene mineralisation.

The target sits immediately south of the 3.2 million ounce Youanmi main lode and 200m south of a bonanza gold hit (28m at 34.81g/t) announced in March.