Venus Metals Corporation Limited (ASX: VMX) and Joint Venture partner Rox Resources Limited (ASX: RXL) have achieved further positive results from their recent reverse circulation (RC) drilling at Sovereign Prospect in Western Australia.
RC drilling followed up on previous AC and RC results and has extended the high‐grade gold mineralisation down dip. Best results include:8m @ 5.03 g/t Au from 160m,2m @ 15.83 g/t Au from 160m and3m @ 2.86 g/t Au from 165m
An interpretation of recent ground‐magnetic surveys covering Currans Find (M57/641) and Sovereign Prospect (E57/1019) shows prominent northeast (NE) and north‐northeast (NNE) trending structures that align with the orientation of high‐grade gold mineralization at the Taylor’s Reef, Currans North and Red White and Blue prospects.
Based on the ground‐magnetic data, six priority targets have been identified along NE trends in the eastern part of the survey area (E57/1019) and one of these priority targets is located immediately west of the Sovereign gold discovery.
Sovereign Prospect is located on E57/1019 which is part of the Youanmi Gold Project, VMC JV (VMC 50% and RXL 50% ‐ gold rights only).
An initial AC programme in 2019 generated geochemical anomalies (for lead and other base metals) that were interpreted to resemble the geochemical signatures of Currans North and Penny West high‐grade gold.
Subsequent AC drilling intersected gold mineralization in VRAC151; 4m @ 7.02 g/t Au from 24m, and 5m @ 2.41 g/t Au from 60m to EOH, and in VRAC161: 4m @ 0.94 g/t Au from 32m.
Further RC drilling is planned to test the depth extent of the high‐grade mineralisation at Sovereign and to expand the drilling programme along a newly interpreted trend with the mineralisation potentially open to the west and southwest.