Venus hits 25.1g/t gold whereas exploring historic | Australian Markets
Venus Metals has intercepted gold to 50 metres in depth, with a best hit of 4m at 10.3 grams per tonne (g/t) gold from 24m, together with 1m at 25.1g/t gold, from its first reverse circulation drilling marketing campaign at its Henderson project in Western Australia’s Goldfields.
The outcomes had been obtained from the historic Hilltop gold mine, southwest of the company’s 202-square-kilometre exploration licence space and 60km northwest of WA’s historic gold city of Menzies.
The project’s second drill gap nailed 2m at 2.82g/t gold from 50m.
The drilling marketing campaign is an element of an in depth exploration effort Venus has underway, which additionally contains promising sampling of quartz-rich mullock from new websites at Hilltop and from rock chips picked up at its close by Snake Hill.
Venus’ Henderson licence encloses about 25km of the strike size of the potential Mt Ida/Ularring Greenstone Belt within the Goldfields area.
Gold at Hilltop happens within large meta-basalts, with close to floor gold-rich zones being outlined in a steeply-dipping, north-west/south-east trending fracture cleavage which the company says seems to be best developed in mineralised areas.
The Hilltop mine is centred round two parallel, north-west trending traces of workings, about 70m aside, with its principal historic gold manufacturing drawn from two shallow shafts on the southern line.
Venus’ latest drilling program examined for gold beneath previous workings on the mine. Seven holes had been dedicated to the duty for a whole of 402m into each traces of workings.
Each of the principal drill intercepts had been from two holes on a single part designed to check beneath the shafts on the southern development.
The gold was discovered to happen within a broad zone up to 10m extensive that includes elevated arsenic and lead assays which had been traced about 20m alongside strike to the place a third gap exhibits it to be solely weakly mineralised.
Encouragingly, earlier reporting in 2021 by the company highlighted grades in mullock rock-piles close to the shafts working to a most of 77.2g/t gold.
The incidence of considerable high-grade floor mullock alongside the southern line of the shafts was additional confirmed by a 36.9g/t gold outcome reported in December final yr, bolstered by the latest spherical of sampling that produced grades up to 17.8g/t gold.
The northern line of workings options shallow north-west trending open stopes and previous workings extending alongside a strike distance of about 125m.
The first attribute of the open stope mining methodology is that the rock mass across the stope is powerful enough to stand on its own, eliminating the requirement for in depth timbering or different help systems.
The tactic is best suited for steeply inclined orebodies as gravity helps to drop ore to the ground earlier than it’s eliminated to floor. It’s also favoured for exploiting high-value ore deposits the place maximising ore restoration is important, subject to rock power.
Whereas drilling of the northern line of workings didn’t find vital gold mineralisation, it recognized steep, north-east dipping zones up to 3m extensive carrying anomalous arsenic and gold down-dip from quartz veins uncovered within the partitions of open stopes at or close to the floor.
The massive stopes and geochemical anomalism counsel the northern zone may need additional potential that has but to be totally evaluated and will justify cautious evaluation, additional sampling and structural mapping.
Other than the mullock sampling on the principal Hilltop mining space, Venus additionally undertook regional rock chip sampling at its Emerald North, Henderson, Snake Hill and Blue Nicely targets.
About 8km north of Hilltop, the Snake Hill workings threw up a strong outcome of 14.03g/t together with 1.03g/t gold from mullock round previous workings, highlighting the potential prospectivity of the realm.
The findings are in step with in depth gold anomalism recognized in regional geochemical datasets for the Mt Ida Belt.
Venus says it’s inspired by initial outcomes from its first move drilling at Hilltop and is trying in direction of a second stage of reverse circulation drilling to raised outline structural trends and lode orientation on the southern line of workings.
The company additionally plans to drill the central half of the northern development of workings the place tough entry throughout steeper terrain meant some drilling metreage was omitted from the primary program.
Venus additionally sees its scout Snake Hill pattern outcomes as justifying follow-up soil sampling and extra rock-chip sampling, with future drilling subject to the outcomes of that work.
Keep up to date with the latest news within the Australian markets! Our web site is your go-to source for cutting-edge financial news, market trends, financial insights, and updates on native trade. We offer day by day updates to make sure you have entry to the freshest info on Australian stock actions, commodity costs, currency fluctuations, and key financial developments.
Discover how these trends are shaping the longer term of Australia’s economic system! Go to us frequently for probably the most partaking and informative market content material by clicking right here. Our fastidiously curated articles will keep you knowledgeable on market shifts, investment methods, regulatory modifications, and pivotal moments within the Australian financial panorama.
