Venus lands hefty 38g/t gold hit at promising WA | Australian Markets

Venus Metals Corporation has tapped into a golden scorching streak after new drilling at its promising Bellchambers and Rangeview prospects close to Sandstone in Western Australia unearthed a scorching 1m hit grading 38.3 grams per tonne (g/t) gold.

The company’s latest 34-hole reverse circulation drilling marketing campaign, totalling 1749 metres, added more juice gold to its present useful resource at Bellchambers and sharpened the exploration give attention to the company’s close by Rangeview prospect.

The outcomes are anticipated to fast-track an up to date useful resource estimate, doubtlessly upgrading elements of the useful resource from indicated to measured standing.

Standout hits at Bellchambers embrace a juicy 19m grading 3.74g/t gold from simply 11m downhole – with a blazing 1m at 38.3g/t – together with a 29m hit going 1.55g/t from 11m and 30m operating at 1.72g/t from 45m.

Over at Rangeview, the rig nailed 13m at 1.60g/t gold from 19m and a 18m discover at 1.24g/t from 47m, spiced up by a 1m strike going 11.5g/t gold.

Venus says the outcomes hit the mark, backing up the recognized gold zones throughout each prospects. Notably, the drill marketing campaign plugged key gaps within the present Bellchambers useful resource, which already hosts 722,000 tonnes at 1.31g/t for a useful 30,500 ounces gold.

Venus Metals holds a commanding 90 per cent stake within the 125-square-kilometre Bellchambers project, 23km southwest of Sandstone. It additionally holds 55 million shares value more than $16 million in Rox Resources, which owns the close by monster 2.3-million-ounce Youanmi gold project.

Venus says the new outcomes help its plans to push the project in direction of potential development, with near-surface oxide mineralisation at Bellchambers being a key focus for upcoming check work and metallurgical research.

A diamond drilling marketing campaign is now within the pipeline to tighten useful resource estimates and collect contemporary samples for processing research. Adding to the reams of new knowledge, the company can also be gathering consultant samples to validate metallurgical recoveries as a key step on the highway to manufacturing.

Structurally, gold at Bellchambers and Rangeview prospects is tied to quartz veins and sulphide-rich zones within sheared sedimentary and mafic rocks. The steeply dipping mineralisation runs down to about 45-50 metres, making it well-suited to open-pit mining.

With a mine-gate gross sales settlement already within the combine with Rox Resources, Venus is well-positioned to doubtlessly monetise its gold ounces with out the heavy lifting of building a standalone plant.

The Sandstone area, already peppered with historic gold workings, seems to be persevering with to ship for Venus. And with a refreshed useful resource estimate due within the subsequent two months, punters could not have to attend long to see simply how a lot more gold could possibly be added to the ledger.

This latest spherical of drilling has confirmed Bellchambers and Rangeview stay fertile looking grounds and Venus is conserving the drill rigs heat for more discoveries.

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