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Venus Metals Corporation Limited: RC drilling commenced at Currans North and regional targets

22.07.2019  |  ABN Newswire
Perth, Australia - Venus Metals Corporation Ltd. (ASX:VMC) (FRA:EZL) in conjunction with Rox Resources Ltd (ASX:RXL) is pleased to announce the commencement of a c. 1,600m reverse circulation (RC) drilling program at the Youanmi Gold Project, Western Australia (Figure 1). The drilling program will explore the Currans North Prospect and other targets (Figure 2), and is expected to be completed by the end of July.

*All figures in link below.

At the 'Currans North' prospect, RC drilling of c. 1,100m will focus on down-plunge and alongstrike extensions of bonanza-grade gold mineralization intersected in previous RC drilling (refer ASX release 24 June 2019), including:

CFRC16: 3m @ 27.5 g/t from 39m
including 1m @ 72.67 g/t Au from 39m
CFRC14: 2m @ 13.34 g/t from 61m
including 1m @ 25.38g/t Au from 61m

In addition, RC drilling of four holes is planned at the Golden Victoria Prospect where historical drilling intersected shallow high-grade gold mineralization, possibly associated with banded iron formation, and potential down-dip extensions of the high-grade mineralization that was intersected in deeper drilling but was not followed up at the time.

A high priority EM anomaly target along the main Youanmi Shear Zone will also be tested for gold and base metals mineralization as part of this RC program.

In early August, the Company is planning to commence a 5,000m aircore drilling program north of the historical Penny West gold mine, the historical Magenta and Columbia gold prospects, and the recent Penny North gold discovery by Spectrum Minerals Ltd, c. 2-4km to the south and along strike of the area to be tested by the AC program. Aeromagnetic data (Figure 3) show, the stratigraphic units that host these gold deposits may extend north into the Venus Joint Venture tenement where they present a prime gold exploration target for highgrade gold mineralization of the Penny West type.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/1017AWLK



About Venus Metals Corporation Limited:

Venus Metals Corporation Ltd. (ASX:VMC) holds a significant and wide ranging portfolio of Australian base and precious metals exploration projects comprising lithium, cobalt, vanadium, copper, zinc, nickel, gold and platinum group of elements.

Key project areas in Western Australia include:

- Pincher Well Zinc-Copper Project (Youanmi): Over 5 km of under explored VMS trend with an Exploration Target of 15-20 Million Tonnes@ 2-8% Zinc,which also hosts a number of high grade lodes (>10% Zinc).

- Currans Well Cobalt-Nickel-Copper Project (Youanmi): Significant Cobalt mineralisation up to 1483 ppm Co in historical drilling. Extensive Lateritic Duricrust Co-Ni target areas identified.

- Curara Well Nickel-Copper-Gold Project (Doolgunna):10 km northeast of Sandfire Resources DeGrussa Copper Mine. Wide intercepts of disseminated Nickel Sulphides (Millerites) in Ultramafics.

- Southern Cross Vanadium Project (Youanmi): JORC 2012 Inferred Vanadium Mineral Resource of 167.7 Millions Tonnes @ 0.41% V2O5, 7.52% TiO2.

- Strategic Lithium-Tantalum Projects in WA.



Source:

Venus Metals Corporation Ltd.



Contact:

Venus Metals Corporation Ltd. Matthew Hogan Managing Director T: +61-8-9321-7541 Barry Fehlberg Exploration Director T: +61-8-9321-7541


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