Announcement Date: 2022-10-10
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Venus Metals Corporation Ltd.
Project name: Youanmi
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 9m at 15.6g/t Au0.0
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: The recent RC drilling tested EM and IP targets at the Pincher Dome volcanogenic massive sulphide (VMS) system that hosts several known zinc (Zn) and copper (Cu) prospects and that had not been adequately tested by Venus’ previous vertical drilling (maximum depth of 130m) (refer ASX release 31 Oct 2017). In total, 13 holes for 1980m were completed targeting three areas (Figure 1). A historical strong induced polarization (IP) anomaly, located south of previously drilled high-grade Zn mineralisation, e.g., in hole VPW40: 10m @ 7.31% Zn from 52 m including 6m @ 9.5% Zn from 55 m (refer ASX release 27 April 2017 and 29 May 2017). RC drilling along two east-west traverses, 6,821,331N and 6,821,531N, intersected 20m @ 1.2% Zn, 0.38% lead (Pb) and 0.17 g/t gold (Au) from 68m depth in RC hole VMC058 (Figure 2); one-meter analyses are pending. Holes VMC049 and VMC055 (Figure 3) did not reach their respective target depths due to very strong ground water flow and diamond drilling is planned to test the centre of the IP anomaly along traverse 6,821,330N. Hole VMC VMC054 (Figure 3) intersected strong gold mineralization from surface in the laterite zone with an interval of 9m @ 15.6 g/t Au including 3m @ 35.2 g/t Au from 1m. These results demonstrate the prospectivity of the Pincher VMS system.
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