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Venus Metals (ASX:VMC) - Managing Director, Matthew Hogan - The Market Herald
Managing Director, Matthew Hogan
Source: The West Australia
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  • Venus Metals (VMC) has received results from its stage two drilling program at the Sandstone Gold Project in Western Australia
  • In mid-February, the company began reverse circulation (RC) drilling at the Range View Prospect to test the extent of the high-grade gold mineralisation
  • Up to 6.23g/t gold was intersected, and the mineralisation remains open down-plunge and to the northeast
  • Further RC drilling has been planned to test the extent of the mineralisation and follow up on results
  • Venus has ended the day 8.11 per cent in the green with shares trading at 20 cents

Venus Metals (VMC) has received results from its stage two drilling program at the Sandstone Gold Project in Western Australia.

In mid-February, the company began reverse circulation (RC) drilling at the Range View Prospect to test the extent of the high-grade gold mineralisation.

Phase one work returned a best intercept of 11 metres at 4.69g/t gold including one metre at 38.92g/t gold.

11 holes were drilled under this phase two program and a best result of five metres at 2.76g/t gold from 45 metres including one metre at 6.23g/t gold from 47 metres was intersected.

The company also retuned six metres at 2.06g/t gold from 20 metres including one metre at 6.14g/t gold from 24 metres.

Analysis of these results indicate an east-northeast plunge with the high-grade mineralisation remaining open down-plunge and to the northeast.

Further RC drilling has been planned to test the extent of the mineralisation and follow up on results.

Venus has ended the day 8.11 per cent in the green with shares trading at 20 cents in a $27.94 million market cap.

VMC by the numbers
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