View in Other Languages 4165 3372 
Penny West North Gold Targets
Penny West North Gold Targets
Perth, Mar 22, 2019 AEST (ABN Newswire) - Spectrum Metals Ltd (SPX) has recently announced a "high grade gold discovery at Penny West" and subsequent high-grade assays confirming a new lode in their project area.

Venus Metals Corporation Limited (ASX:VMC) controls all strike extensions to the north and south of the Penny West tenure. The Company wishes to announce that following this news, it has completed a desk top review of previously announced Airborne EM targets* and associated historic RAB drilling on the Venus Metals Tenure (refer ASX release 21 February 2018). It is now moving to contract drill rigs to drill test the identified targets abutting the Spectrum (SPX) tenure along strike to the north (Targets EM01 to EM05).

Please refer attached plan showing the target* areas identified by this work.

*The term 'Exploration Target' should not be misunderstood or misconstrued as an estimate of Mineral Resources and Reserves as defined by the JORC Code (2012), and therefore the terms have not been used in this context.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/3EI1Z6J6


About Venus Metals Corporation Limited

Venus Metals ASX:VMC

Venus Metals Corporation Limited (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.

 


Contact

Venus Metals Corporation Limited
Matthew Hogan
Managing Director
T: +61-8-9321-7541



Related Companies

Venus Metals Corporation Limited        

ABN Newswire This Page Viewed:  (Last 7 Days: 16) (Last 30 Days: 78) (Since Published: 4165) 

View in Other Languages 4165 3372  (7537)