Join our daily newsletter At The Bell to receive exclusive market insights
- Venus Metals (VMC) and Rox Resources (RXL) have commenced drilling at prospects within the Youanmi Gold Project in WA
- The company has planned a reverse circulation (RC) drill program at the Penny West Deep South and Sovereign prospects
- The drilling program will test for further gold mineralisation
- Further to the current RC drill program, aircore drilling is also slated to commence shortly
- On the market today, Rox is down 1.22 per cent, trading for 8.1 cents per share, while Venus is up 1.64 per cent and is trading for 31 cents each
Venus Metals (VMC) and Rox Resources (RXL) have commenced drilling at prospects within the Youanmi Gold Project in WA.
The company has planned a reverse circulation (RC) drill program at the Penny West Deep South and Sovereign prospects.
Penny West Deep South
At the Penny West Deep South prospect, the company discovered drill targets through a heliborne electromagnetic survey (HEM).
The HEM anomalies could potentially indicate sulphide mineralisation, which might be associated with the Penny West mineralisation.
RC drilling will also test the bedrock mineralisation beneath the anomalous gold, which was previously found by a dill program that was not followed up.
Sovereign Gold Prospect
At the Sovereign Gold Prospect, previous aircore (AC) drilling on the prospect discovered a new zone of gold mineralisation, covering four metres at 7.02 g/t of gold from 24 metres.
Follow-up RC drilling beneath the gold intersection confirmed the gold mineralisation.
The current RC program is being carried out to test the depth and strike extensions of this new zone of gold mineralisation.
Further to the current RC drill program, AC drilling is also planned to begin shortly.
On the market today, Rox is down 1.22 per cent, trading for 8.1 cents per share, while Venus is up 1.64 per cent and is trading for 31 cents each at 11:18 am AEST.
