Australia

Venus Metals and partner expand Sovereign gold discovery within Youanmi JV project

Venus Metals Corporation Ltd (ASX:VMC) and joint venture partner Rox Resources (ASX:RXL) have received high-grade reverse circulation (RC) drill results which have expanded the Sovereign discovery within the wider Youanmi Gold Project in WA.

Drilling followed up on 2018 and 2019 aircore results and tested beneath gold intersections with best results of 2 metres at 10.64 g/t from 82 metres and 1-metre at 8.19 g/t from 64 metres.

Investors have responded positively with VMC shares more than 7% higher to 29 cents and are up from 16 cents at the close on June 16.

High-grade results


Hole YSRC10 returned 10 metres at 3.64 g/t from 79 metres, including 2 metres at 10.64 g/t from 82 metres; 7 metres at 3.97 g/t from 59 metres, including 1-metre at 8.19 g/t from 64 metres; 4 metres at 1.86 g/t from 18 metres and 3 metres 1.98 g/t from 24 metres.

Two other holes, YSRC09 and YSRC11, returned 4 metres at 2.68 g/t from 116 metres, including 1-metre at 5.43 g/t from 118 metres, and 3 metres at 1.24 g/t from 56 metres.

Further RC drilling plaRead More – Source