Venus Metals Corporation

More High-Grade Drilling Results at Link Build Resource Confidence and Highlight Growth Potential at Youanmi

More strong results from resource development drilling withRC drilling also underway at the Paddy’s Lode discovery

West Australian gold exploration and development company Rox Resources Limited (“Rox” or “the Company”) (ASX: RXL), in conjunction with its joint venture partner Venus Metals Corporation (ASX: VMC), is pleased to report further significant assay results from the ongoing resource development program at the 3.2Moz Youanmi Gold Project (OYG JV), located near Mt Magnet in WA.


Highlights:
  • Third batch of assays received from the ongoing Youanmi resource development drilling program. Results include:
    • RXDD068: 6.38m @ 4.45g/t Au from 381.84m, incl:

2.56m @ 8.26g/t Au from 381.84m

    • RXDD077: 4.00m @ 5.67g/t Au from 257.00m
    • RXDD078: 5.96m @ 5.34g/t Au from 314.21m
    • RXDD083: 4.21m @ 5.21g/t Au from 303.86m
    • o RXDD089: 3.00m @ 5.47g/t Au from 344.30m, and:

4.72m @ 4.59g/t Au from 492.07m, incl:

1.95m @ 8.49g/t Au from 492.07mo

    • RXDD091: 1.99m @ 18.52g/t Au from 450.00m
  • Drilling at Link has been targeting an upgrade in Resource category over a 460m strike length between 230m and 475m below surface. The consistency of the high-grade results being received bodes well for future Resource updates as well as for potential depth extensions.
  • RC drilling underway at the Paddy’s Lode discovery to test continuity up-dip and for supergene mineralisation

The assays are from an ongoing 24,000m (increased from 23,000m) resource development and near-mine exploration drilling program. Resource development drilling, which is focused 475m below surface. Assays received to date at Link have provided confidence in the geological interpretation and bode well for improving resource confidence as part of future resource updates, while also highlighting the down-dip potential of the ore zone.

Managing Director Comments

Rox Resources’ Managing Director, Mr Robert Ryan, said the strong results generated by in-fill drilling were continuing to build confidence in the resource inventory at Youanmi, while also providing further clear evidence of the potential for deeper extensions of the deposit which could be targeted by future underground drilling.

“We are very pleased with the outcomes of the in-fill program, which continues to deliver grades and widths in line with the current geological interpretations. This reinforces the continuity and endowment of the deposit, and supports our strategy to upgrade the Inferred portions of the current Mineral Resource to the higher-confidence Indicated category.

“The current batch of assays includes the deepest holes drilled to date at Link at 475m below surface. This highlights the significant potential for future resource extensions at depth, especially considering that high-grade mineralisation has been intersected on the main lode at 970m below surface.

“Assays are still pending from the recent diamond drilling programs at Link and Paddy’s Lode and, with an important phase of RC drilling currently underway at Paddy’s Lode targeting shallow extensions of the discovery and potential supergene mineralisation, investors can look forward to continued strong news-flow over the coming weeks.”


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
The Conversation (0)
A battery on a blue background.

Lithium Supply Chain Conference to Bring Industry Leaders to Las Vegas

Fastmarkets' first Lithium Supply and Battery Raw Materials Conference was held in 2009 in Santiago, Chile, emerging amid the financial crisis and providing vital insights into the booming lithium market.

Now in its 16th year, the event has consistently attracted influential figures from the battery raw materials industry, offering excellent networking opportunities while maintaining a global perspective.

Held in cities such as Toronto, Buenos Aires, Shanghai, Montreal and Las Vegas, the conference has evolved to enhance the delegate experience, featuring visits to mines and lithium facilities, along with roundtable discussions, masterclasses, Q&As and other formats, allowing attendees to gain insights in various ways.

Keep reading...Show less
Astute Metals NL

Significant Lithium Discovery in Inaugural Drill Campaign at Red Mountain Project, USA

Assays from first three holes intersect high-grade lithium mineralisation

Astute Metals NL (ASX: ASE) (“ASE”, “Astute” or “the Company”) is pleased to advise that assays results from the first three holes of the maiden RC drilling campaign at its 100%-owned Red Mountain Lithium Project in Nevada, USA have returned high-grade mineralisation, indicating the potential discovery of a significant lithium deposit.

Keep reading...Show less
Lightning Minerals

Deal Completion on Acquisition of Bengal Mining and Brazilian Lithium Projects

Lightning Minerals(L1M or the Company) is pleased to announce completion of the acquisition of Bengal Mining (Bengal). Bengal holds, via its wholly owned subsidiary Tigre Mineracao Ltda (Tigre) option agreements over two lithium projects, Caraíbas and Sidrônio (the Projects). The Projects are located in Brazil’s prolific Lithium Valley district in the state of Minas Gerais in proximity to Latin Resources’ (ASX: LRS) Colina project1 hosting 70.9Mt @ 1.25% Li20 and Sigma Lithium’s (NASDAQ: SGML) Grota do Cirilo project2 hosting 108.9Mt @ 1.41% Li20.

Keep reading...Show less
QX Resources

Large Basin Confirmed in Drillholes with Multiple Brine Horizon Targets - Liberty Lithium Brine Project USA

QX Resources Limited (ASX: QXR, ‘QXR’) can confirm that the Liberty Lithium brine project in California, USA, is a large brine basin with numerous brine aquifers, shown in downhole sampling and geophysics in the second hole of the Company’s two-hole diamond drill program (Table 1).

Keep reading...Show less
Chariot Corporation

Wyoming Summer Exploration Programs

Chariot Corporation Limited (ASX:CC9) (“Chariot” or the “Company”) through a U.S. subsidiary will recommence exploration activities at its Black Mountain project and also engage in exploration activities at its six other lithium-caesium-tantalite (“LCT”) pegmatite projects in Wyoming during the 2024 North American summer season (“Summer Exploration”).

Keep reading...Show less
Recycling Key to Closing Supply/Demand Gap for EV Battery Materials

Recycling Key to Closing Supply/Demand Gap for EV Battery Materials

The global market share for electric car sales is expected to rise to 35 percent by 2030, up from less than 25 percent in previous forecasts, according to the International Energy Agency's 2023 Global EV Outlook Report.

However, the supply of electric battery materials can’t keep up with this exploding level of demand. Analysts say that EV production is pulling ahead of mine production for critical battery materials such as cobalt, manganese, lithium and nickel.

This is having a serious impact on prices. If the EV industry wants to overtake the internal combustion engine (ICE) sector, it will need to manage material prices by curbing supply imbalances. Advancement in battery recycling technology may be the answer.

Keep reading...Show less

Latest Press Releases

Related News

×