The Conversation (0)
Venus Metals Corporation Limited (“Venus” or the “Company”) is pleased to announce the results of recent reverse circulation (RC) drilling at the Bellchambers Gold Deposit (90% VMC), located in the Western Australian Goldfields approximately 70 km northeast from the Youanmi Gold Project.
HIGHLIGHTS:
- New JORC2012 gold resource estimate is 722,000 tonnes @ 1.31 g/t Au for 30,500 ounces, with 22,100 ounces classified in the indicated mineral resource category.
- Increase of 35% in tonnes and 40% in ounces at 0.5 g/t Au cut-off (compared to the previous resource reported in 2020).
Bellchambers JORC 2012 Resource Summary
- Mineralised zone traced to a vertical depth of 175m below surface; the deposit remains open at depth.
- Gold intersections from the recent drilling programme include:
- BCRC141; 34m @ 1.25 g/t Au from 160m incl 11m @2.93 g/t Au;
1m @ 9.47 g/t Au from 178m - BCRC142; 25m @ 1.19 g/t Au from 86m incl 4m @ 2.06 g/t Au,
- BCRC143; 17m @ 1.16 g/t Au from 155m incl 4m @ 2.12 g/t Au,
- BCRC141; 34m @ 1.25 g/t Au from 160m incl 11m @2.93 g/t Au;
- Exploration at Bellchambers is ongoing and studies will be instigated, Venus has agreed with Rox Resources Ltd to negotiate a mine gate sale agreement for the Bellchambers deposit on a best endeavours basis (subject to certain conditions, see ASX release 31 March 2023).
The recent drilling programme (refer ASX release 21 February 2023) specifically targeted the depth continuation of the up to 30m wide and steeply plunging core of the southern mineralised domain outlined in the Bellchambers 2020 resource model (refer ASX release 25 September 2020). It also included a single hole drilled at the Range View gold prospect (Table 4). All three Bellchambers drill holes intersected significant zones of gold mineralisation (Table 5) that spatially are in good agreement with the projected down-plunge continuation of the 2020 resource model, extending the vertical depth of known mineralisation from about 100m to 175m from surface. These very encouraging results allowed for a significant increase in calculated mineral resource for the Bellchambers gold deposit.
Click here for the full ASX Release
This article includes content from Venus Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
VMC:AU
Alert Options
No alert set
