- Venus Metals has updated shareholders on its Youanmi gold project which it holds in a joint venture with Rox Resources
- At its Currans North prospect “bonanza” grades of gold has been found, exceeding 76 grams per tonne
- A drilling program has been taking place at the Youanmi gold mine and Penny West gold prospect searching for new high-grade targets
- Venus Metal’s share price is remaining flat today, currently sitting at 17 cents per share
In its quarterly update, Venus Metals informed the market of its progress at the Youanmi gold project, which it holds in a joint venture with Rox Resources.
At the Currans North prospect, the companies found “bonanza-grades,” reaching up to 76.03 grams per tonne of gold.
The identified intersections reveal high-grade gold mineralisation and demonstrate the possibility for significant gold discoveries, according to Venus.
Rox Resources has been drilling at the Youanmi gold mine and has encountered high-grades of gold, reaching 23.67 grams per tonne from 76 metres.
An exploration target at the Youanmi gold mine forecasts it to produce between two million and 2.6 million tonnes at 1.05 to 1.30 grams per tonne of gold.
Recently, at the Penny West prospect, 5774-metres of air core drilling campaign was completed. Drilling identified two gold anomalies of 0.73 grams per tonne of gold and 0.17 grams per tonne of gold. Additionally, lead and zinc concentrations were found.
Venus Metal’s share price is remaining flat today, currently sitting at 17 cents per share.