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.

  • 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.

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