Venus Metals Corporation (ASX: VMC) has discovered high-grade gold mineralisation at the Taylor’s Reef prospect within the Currans Find mining lease, which is held under joint venture with Rox Resources (ASX: RXL) and private owner Doug Taylor.
Reverse circulation and aircore drilling were carried out at Taylor’s Reef, which is a new unworked zone where Mr Taylor recovered high-grade gold from surface workings.
Drilling confirmed the mineralisation extended at depth, while a third “very high grade” lode was discovered.
The lode is shallow and remains open at depth and along strike.
Highlight results from drilling were 3m at 19.58 grams per tonne gold from 21m, including 1m at 55.81g/t; and 2m at 6.67g/t gold from 57m, including 1m at 12.27g/t.
The joint venture plans to undertake further drilling along strike of Taylor’s Reef. It will also target beneath the recent high-grade intersections to evaluate potential extensions at depth.
Venus noted the mineralisation at Taylor’s Reef is likely a continuation of high-grade gold lodes from the Currans North prospect.
In combination with the widespread anomalies south-west of Taylor’s Reef, Venus has identified a 900m long north-east trending zone for further drilling.
Currans Find gold lease
Rox and Venus each own 45% of the asset, while Mr Taylor retains a 10% stake. However, Venus manages the project, which encompasses 300 hectares in Western Australia.
Historically, Currans Find was a high-grade gold producing lease and is located only 5km along strike of the Penny West gold deposit.
Youanmi joint venture
Within the same region, Venus and Rox have various joint venture arrangements over numerous leases.
At the start of the month, the joint venture reported “exceptionally high” gold grades at the Grace prospect within the Youanmi gold mine joint venture.
Ongoing drilling at Grace returned latest notable assays of 13m at 60.49g/t gold from 177m, containing 4m at 191.56g/t gold from 181m; 4m at 18.53g/t gold from 88m; and 3m at 22.67g/t gold from 10m.