Venus Metals Corporation Limited (ASX:VMC) Reports High-Grade Gold Assays
Venus Metals Corporation Limited (ASX: VMC) has released significant gold assay results from its Henderson Project, revealing highly prospective exploration findings. The recent surface rock chip sampling at the Hilltop Target Area yielded gold assays of up to 50.1 g/t Au along a strike length of approximately 125 metres.
Exploration Results
The company reported intriguing results, including exposed quartz veins with assays reaching 6.4 g/t Au. Notably, additional samples from the Southern Line of workings returned up to 36.9 g/t Au, corroborating previous results that indicated up to 77.2 g/t Au. These findings suggest a gold mineralisation style reminiscent of nearby high-grade deposits.
Future Developments
Venus has indicated plans for further exploration, including reverse circulation (RC) drilling to test the depth extension of gold mineralisation at Hilltop. The current exploration efforts have been limited, with minimal modern exploration conducted at the historical Hilltop mining area since mining ceased in 1941.
The announcement stated that the company finds the results from Hilltop highly encouraging and highlights the gold potential of the area. Venus will also advance other exploration programs to unlock further value.
Overview of the Project
The Henderson tenements span 438 square kilometres within the Mt Ida/Ularring Greenstone Belt, renowned for its gold and emerging lithium potential. After significant grades were discovered in past reconnaissance sampling, the current data reinforce the area’s resource viability.
Venus Metals Corporation remains committed to extending its exploration efforts to identify additional gold targets, ensuring a proactive approach to unlock the project’s potential.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.