Venus Metals Corporation Limited: Drilling at Bellchambers Gold Deposit Commences
21.02.2023 | ABN Newswire
Perth, Australia - Venus Metals Corporation Ltd. (ASX:VMC) is pleased to announce the start of reverse circulation (RC) drilling at the Sandstone Gold Project. The Project is located on tenement E57/984 (208 km2; 90% Venus), located approximately 500 km northeast of Perth and 23km southwest of Sandstone (Figure 1*), Western Australia.The RC drilling targets structurally controlled gold mineralisation at the Bellchambers Gold Deposit and will test the depth continuation of high-grade gold mineralisation intersected during RC drilling in late 2020 which resulted in a substantial increase in the indicated mineral resource of the Bellchambers Deposit (Table 1*) (refer ASX release 25 September 2020).
Some of the best gold intersections in the 2020 RC drilling programme included (refer ASX release 25 September 2020):
BCRC117; 26m @ 1.47 g/t Au from 79m incl 5m @2.05 g/t.Au,
BCRC 112; 20m @ 1.41 g/t Au from 71m incl 1m @ 6.82 g/t Au,
BCRC115; 2m @ 5.87 g/t Au from 54m incl 1m @ 9.16 g/t Au,
BCRC118; 2m @ 4.18 g/t Au from 59m incl 1m @ 7.28 g/t Au.
The Bellchambers Gold Deposit is located about two km east of the regionally significant Youanmi Shear Zone and is 70km by road northeast from the Youanmi Gold Project. Gold mineralisation at Bellchambers, and its Range View satellite deposit (Figure 1*; refer ASX release 26 March 2021), is hosted within a north easterly trending sequence of sheared sediments and mafic rocks, interlayered with thin chert and Banded Iron Formation (BIF). The gold mineralisation shows similarities with common BIF - hosted gold mineralisation reported from the central section of the Sandstone Greenstone Belt.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/7A489GOJ
About Venus Metals Corporation Limited:
Venus Metals Corporation Ltd. (ASX:VMC) is a West Australian based Company with a focus on gold, base metals, vanadium and lithium exploration projects. The Company aims to increase shareholder value through targeted exploration success on its projects.
The Company's major gold project is the Youanmi Gold Mine, located 500km north-east of Perth. The Youanmi Gold Mine is now jointly owned by Venus Metals (30%) and Rox Resources Limited (70%); Indicated and Inferred Resource of the mine is in excess of 3 million ounces of gold.
Source:
Venus Metals Corporation Ltd.
Contact:
Matt Hogan Managing Director Venus Metals Corporation Ltd. Tel: +61 8 9321 7541