Home / World News / Drilling extends Mount Magnet gold lode for Venus, Rox

Drilling extends Mount Magnet gold lode for Venus, Rox

Venus Metals Corporation and Rox Resources have continued their run of gold hits from the latest round of drilling at the companies’ joint venture Youanmi gold project near Mt Magnet in WA.

Results include 8m at 5.1 grams per tonne gold from 212m including 4m at 9.45 g/t from 212m in addition to 4m at 6.03 g/t from 140m in one hole.

A second hole recorded results going 0.78m at 32.98 g/t gold from 256.3m.

The JV partners say the prospect has strong potential for contributing additional ounces to the overall project resource and highlights the potential for new high-grade lodes in previously untested areas.

Both companies believe the latest drilling results confirm at least 160m of plunge continuity from the recently discovered Midway lode.

Previously released high-grade intercepts from Midway include one hole going 4m at 45.5 g/t from 341m including 1.33m at 129.3 g/t from 341.75m with further drilling planned.

Additional shear zone samples have identified a second lode at the Midway prospect, with potential to host a significant mineralised system and evidence of multiple lodes.

Analysis of the mineralised zones indicate the lodes are dipping steeply towards the south-west and show a high-grade component to the west-north-west.

The orientation of the new lodes is different from those previously identified at Youanmi and opens up several new exploration targets at the project with the Midway lode remaining open downdip and along strike.

The partners say drilling out the interpreted oxide zone at surface may contribute to an early mine plan.

In April the duo lifted the operation’s near-surface resources by 204,000 ounces to more than 1 million ounces and boosted the project’s total gold resource to 3.2 million ounces through extensive exploration.

Youanmi is on a 36km strike length of its namesake Youanmi greenstone belt and within touching distance of the Ramelius-owned Mount Magnet gold mine. Venus holds 30 per cent and Rox holds the remaining 70 per cent of the near-mine gold operation and also picks up the venture’s management duties.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

About brandsauthority

Check Also

Cotton’s 40 points leads Perth past Hawks

It took a Herculean effort and a season-high points haul from Bryce Cotton as Perth …

%d bloggers like this: