Total
0
Shares
Venus Metals (ASX:VMC) - Managing Director, Matthew Hogan - The Market Herald
Managing Director, Matthew Hogan
Source: The West Australia
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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
More From The Market Herald
Iceni Gold (ASX:ICL) - Directors, Brian Rodan and David Nixon - The Market Herald

" Iceni Gold (ASX:ICL) begins drilling at TOTK area

Iceni Gold (ICL) has begun a drilling program at the TOTK target area at the 14 Mile Well Project in Western Australia.
Mincor Resources (ASX:MCR) - Managing Director, David Southam - The Market Herald

" Mincor Resources (ASX:MCR) records third-largest sulphide nickel intersection at Golden Mile

Mincor Resources (MCR) has recorded its third-largest high-grade sulphide nickel intersection at Long and Durkin North mines in Western Australia.
Canyon Resources (ASX:CAY) - Managing Director, Phillip Gallagher - The Market Herald

" Canyon Resources (ASX:CAY) eyes $6m for Minim-Martap

Bauxite and gold exploration company Canyon Resources (CAY) has received firm commitments to undertake a $6 million placement.
The Market Herald Video

" Theta Gold Mines (ASX:TGM) raises $10.6m to advance South African gold project

Theta Gold Mines (TGM) advises it’s raised $10.6 million in additional equity for its TGME Gold Project in South Africa.