Venus Metals Corporation Limited: Link Prospect Continues to Grow, Youanmi Gold Project

Perth, Australia - West Australian focused gold exploration and development company, Rox Resources Ltd. (ASX:RXL), in conjunction with its joint venture partner Venus Metals Corporation Ltd. (ASX:VMC), is pleased to provide an update on drill results from the Youanmi Gold Project near Mt Magnet, WA, in the OYG JV area (Rox 70% and Manager, VMC 30%).

Drilling continues at Youanmi, with diamond and RC rigs operating at the OYG JV.

Highlights of this round of results are 8m @ 6.24g/t Au from 249m, including 3m @ 12.1g/t Au from 250m intersected in RXRC412, 0.5m @ 77.49g/t Au from 277.8m and 0.75m @ 19.66g/t Au from 270.9m intersected in RXDD030 and 1m @ 11.05g/t Au from 389m intersected in RXDD019. (Table 1, Figure 1*).

Rox Managing Director Alex Passmore commented: "We continue to see excellent drill results from the current program at Youanmi. These latest assays deliver an expansion of the mineralised zone at the Link Prospect adding further confidence to the potential for resource additions in this key area located in close proximity to existing underground workings."

RXDD019 extends a zone of high-grade mineralisation more than 200m from the current resource and highlights the extensive down-plunge continuity of high-grade ore zones. RXDD021 indicates that the mineralised structure continues down-plunge with drilling around this zone likely to see increases in gram metre results.

RXRC412 and RXDD030 were successfully targeted to expand the high-grade resource envelope to the north and down plunge.

Resource Growth at Link Prospect

Drilling is focussed on growing the recently reported resource inventory at Youanmi [1.7Moz at 2.85g/t Au (ASX RXL 23 June 2021)] through resource extension and indicated resource conversion drilling in the near mine areas.

The results reported in this announcement demonstrate continuity of high-grade mineralisation at Link prospect for further increases to the Youanmi mineral resource (Figure 1*).

The results include:

- RXRC412: 8m @ 6.24g/t Au from 249m, including 3m @ 12.1g/t Au from 250m.

- RXDD030: 0.5m @ 77.49g/t Au from 277.8m and 0.75m @ 19.66g/t Au from 270.9m

- RXDD019: 1m @ 11.05g/t Au from 389m

- RXDD021: 0.7m @ 11.06g/t Au from 289.35m

The intersection in RXRC412 of 8m @ 6.24g/t Au from 249m, including 3m @ 12.1g/t Au from 250m is approximately 80m northwest along strike of previously reported diamond hole RXDD018: 6.8m @ 11.98g/t Au from 264m, including 2m @ 37.65g/t Au from 269m and 4.9m @ 6.51g/t Au from 250m (ASX RXL 22 July 2021). Intersections in RXDD019 of 1m @ 11.05g/t Au from 389m and RXDD021 of 0.7m @ 11.06g/t Au from 289.35m are approximately 80m northwest along strike and over 140m down dip (respectively) from previously reported diamond hole RXDD026: 7.25m @ 15.02g/t Au from 315.8m, including 2.9m @ 22.37g/t Au from 320.1m (ASX RXL 9 September 2021).

Mineralisation at Link continues to remain open down plunge to the northwest and up dip to the southeast. The identification of high-grade mineralisation in extensional drilling continues to demonstrate the potential for further resource growth.

Results are pending for 22 RC and 17 diamond holes. Drilling is ongoing.

Regional Aircore Drilling

A total 424 holes for 22,337m of aircore drilling was completed during August and September on Youanmi Regional Joint Venture tenements (Rox 50% and Manager, VMC 50%). This first phase of drilling was designed to test interpreted west-northwest trending secondary structures in the corridor between the Youanmi and the Penny West gold deposits. Targets included numerous demagnetised zones and untested helicopter-borne time-domain electromagnetic conductors over an 18km strike continuation of the Youanmi Shear Zone. Importantly, aircore drilling penetrated well beyond the depths of historical RAB drilling, effectively testing the in-situ regolith beneath transported cover sequences; concluding that historical RAB drilling would have been a largely ineffective exploration tool in these areas.

Assays remain pending for all holes.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/X588U1X2

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 is 1.7 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