Venus Metals (ASX:VMC) has produced an exploration target at the Bellchambers deposit within the Sandstone Gold Project in Western Australia.
The target is estimated between 800,000 tonnes to 950,000 tonnes @ 1.75 to 2 grams per tonne gold for 45,000 to 60,000 ounces.
Venus commissioned Widenbar and Associates to produce the exploration target below the existing global resource at Bellchambers of 766,000 tonnes @ 1.27g/t gold for 31,400 ounces.
The exploration target area is also located north of the current indicated and inferred resource at depth, based on an interpretation of two major mineralised zones that hold a true thickness of around 15m.
The grade of material within the inferred resource zone is around 1.95g/t gold at 1g/t gold cutoff at depth.
The area has undergone reverse circulation and diamond drilling between 1988 and 2001. Venus conducted drilling at nine holes in 2020 in order to test the depth extensions of the north and south mineralised zones.
Venus Metals holds a portfolio comprising a number of gold, copper, base metals, lithium, titanium, and vanadium exploration projects in Western Australia, while also holding a 1% royalty over the Youanmi Gold Mine.
Write to Maddison Elliott at Mining.com.au
Images: Venus Metals
