Venus Metals Corporation Limited: RC Drilling Commenced at Youanmi Pincher Zn-Cu Prospect
Perth, Australia - Venus Metals Corporation Ltd. (ASX:VMC) is pleased to announce the start of a 2,500 m RC drilling program at its Pincher Well Zinc-Copper Prospect (Figure 1*) that is part of the Youanmi Base Metals Project, located 600km north-northeast of Perth, WA.HIGHLIGHTS:
- Reverse circulation (RC) drilling is targeting a historical strong induced polarization (IP) anomaly that is located south of previously drilled high-grade zinc (Zn) mineralisation, e.g., in hole VPW40: 10m @ 7.31% Zn from 52 m including 6m @ 9.5% Zn from 55 m (refer ASX release 27 April 2017 and 29 May 2017).
- The IP anomaly is in the southern part of the Pincher Dome volcanogenic massive sulphide (VMS) system that hosts several known Zn and copper (Cu) prospects and that has not been adequately tested by Venus' previous vertical drilling (maximum depth of 130m) (refer ASX release 31 Oct 2017).
- The VMS-prospective Pincher area was covered by an airborne EM survey as part of the greater Youanmi survey (refer ASX release 23 March 2018) that highlighted a late channel anomaly coincident with the mineralised envelope at Pincher Well. The EM response is interpreted to be due to sulphide-rich sediments with potentially higher concentrations of chalcopyrite and pyrrhotite.
- RC drilling will also test two historical electromagnetic (EM) conductors (PWC12 & PWC16) with coincident gravity anomalies (Figure 1*) that have remained untested at depth. Venus considers these anomalies prospective for Cu-Zn VMS mineralization. A third historical EM conductor, PWC03, located southeast of North Dome may not have been adequately tested along strike by previous drilling and will be drilled as part of the current RC program.
*To view figures, please visit:
https://abnnewswire.net/lnk/X660QZP7
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
