Venus Metals Corporation Limited: Henderson Gold-Nickel Project Aircore Drilling Commences
Perth, Australia - Venus Metals Corporation Ltd. (ASX:VMC) is pleased to announce the start of Phase 1 aircore (AC) drilling at its Henderson Gold-Nickel Project, located ca. 50km northwest of Menzies in the Eastern Goldfields of Western Australia (Figure 1*). The drilling will test structurally controlled gold targets identified in a recent review of historical exploration data and geological and geophysical interpretations (refer ASX release 8 May 2020).The Henderson Au-Ni Project is situated along the southern section of the Ularring Greenstone Belt. Two regionally significant fault zones, the Ida Fault and Ballard Fault, transect the project area (Figure 1*) and are considered to have played important controls on gold deposition. Significant gold mines associated with those structures in proximity to the Henderson Project include the historical First Hit mine (Viking Mines; 7km south) the Riverina mine (Ora Banda Mining; 15km south) and the historical Bottle Creek mine (30km north).
The Henderson Project comprises five exploration licences covering an approximately 800 km2 area. The current drilling is focussed on tenement E30/520 (90% Venus, 10% Prospector).
*To view figures, please visit:
https://abnnewswire.net/lnk/F7DF0KVM
About Venus Metals Corporation Limited:
Venus Metals Corporation Ltd. (ASX:VMC) is a West Australian based Company with a focus on gold and base metals exploration. The Company aims to increase shareholder value through targeted exploration success on its projects.
The Company's major gold project is the Youanmi Gold Mine, located 500km north east of Perth. The Youanmi Gold Mine is now jointly owned by Venus Metals (30%) and Rox Resources Limited (70%) (OYG JV); Indicated and Inferred Resources of the mine exceed 1.2 million ounces of gold.
Exciting new discoveries at the Youanmi Gold Mine have been made at the Grace prospect in footwall granites where very high grades of free milling gold have been intersected, including 25m @34.7g/t Au from 143m (RXRC 287) and 13m @60.49 g/t from 181m (RXRC 239). The Grace Prospect may substantially add to the Youanmi Gold Mine resources.
Source:
Venus Metals Corporation Ltd.
Contact:
Matt Hogan Managing Director Venus Metals Corporation Ltd. Tel: +61 8 9321 7541
