Venus Metals has received important gold assay results of a comprehensive sampling program conducted at the hole YGRC 156 in the Yalgoo gold project, along with positive composite sampling results from four additional holes.
Location of VMC Yalgoo Gold Project Tenements
The company has intersected 4.12 g/t gold over 82 m in the drill hole YGRC 156 during comprehensive sampling and has encountered 1.86 g/t gold over 68 m in the hole YGRC 137, 1.4 g/t over 20 m in the hole YGRC 144, 1.19 g/t gold over 6 m and 1.88 g/t gold over 16 m in the hole YGRC 141, 1.65 g/t gold over 14 m in the hole YGRC 140 during the composite sampling program.
Several shallow historical gold workings are present in the Yalgoo gold project. Previous exploration did not produce any significant intersection.
Venus Metals began a gold assaying program in the last quarter, by choosing the right drill hole intervals, which displayed dispersed sulphides and quartz veining in the drill logs. The plan of the assay campaign was to examine the occurrence of gold values in the five preferred drill holes. Positive results have been encountered in every hole.
The project region has thick and reliable gold grades, which remains the same even with depth in several areas. These gold values are present in both new and oxide rock zones.
The company has considered that the additional concentrated exploration will possibly lead to the discovery of several gold areas in the project, based on these aspects.
It will currently test more drill holes for gold in order to find the broadening of gold values in all drilled regions. Venus Metals will form a project team to act further based on the results indicated by this program.