Youanmi gold footprint grows again for Venus Metals Corporation and Rox Resources
Assays include an intersection at Grace South of 8m at 19.9g/t gold from 68m.
Venus Metals Corporation (ASX: VMC) has extended the mineralised gold footprint at its 30% owned Youanmi project in Western Australia where joint venture partner Rox Resources (ASX: RXL) is actively exploring.
The current program at Youanmi started in February with assays now received for three holes.
These assays have confirmed gold mineralisation is present 100m to the south of the Grace deposit at the Grace South target.
Notable results from Grace South were 8m at 19.9 grams per tonne gold from 68m, including 4m at 38.3g/t gold from 68m; and 4m at 5g/t gold from 40m.
At the Junction target, drilling intercepted 4m at 6g/t gold from 84m, and 8m at 4.1g/t gold from 112m.
The current program is testing the southern continuation of the Grace deposit and other high-grade near-mine anomalies including the Junction and Link targets.
Junction is down plunge of mineralisation unearthed in the Pollard lodes which were mined in the 1930s and produced about 260,000 ounces of gold at 15g/t.
The Link targe is beneath historically mined northern pits – United, Rebel, Kathleen and Kurrajong.
Commenting on the assays, Rox managing director Alex Passmore said the latest results were “strong” and identify “shallow strike extensions at Grace”.
Advancing Youanmi
The 2021 drilling program was developed after a re-interpretation of structural mineralisation controls using data generated in the extensive 2020 drilling season and an audit of historic drilling and mining information.
Rox noted the latest assays confirm the new interpretation is “geologically robust” with further drilling planned.
In the current program, near mine and resource extension areas will feed into a mineral resource and subsequent definitive feasibility work.
This year, exploration will include “substantial” reverse circulation and diamond drilling programs, along with metallurgical, hydrogeological, geotechnical and environmental studies.
These will underpin an updated and optimised development plan.
Assays are pending from 15 holes of the current program.