Venus Metals Corporation has begun a 2500m drilling program at its Pincher Well zinc-copper prospect that is part of its Youanmi base metals project 600km north-east of Perth.
The reverse circulation drilling will target a strong historical induced polarisation anomaly south of previously drilled high-grade zinc mineralisation.
Prior drilling back in 2017 shows a 10m hit going 7.31 per cent zinc from 52m including a higher grade 6m intersection at 9.5 per cent zinc from 55m.
The same program also included another 10m hit at 5.1 per cent zinc from 55m and 7m at 4.2 per cent zinc from 87m in another hole.
The company says the anomaly is in the southern part of the Pincher Dome volcanogenic massive sulphide system that hosts zinc and copper prospects that have not been tested by its previous vertical drilling.
The Pincher area was previously covered by an airborne electromagnetic program that was part of the greater Youanmi survey.
Venus has interpreted the electromagnetic response to be due to sulphide-rich sediments with potentially higher concentrations of chalcopyrite and pyrrhotite.
The survey also highlighted a late channel anomaly coincident with the mineralised envelope at Pincher Well.
The latest drilling program will also test two historical electromagnetic conductors with coincident gravity anomalies that are yet to be tested at depth.
The company believes the identified anomalies are prospective for copper and zinc mineralisation.
A third electromagnetic conductor located south-east of the North Dome prospect will also be drilled as it may not have been adequately tested along strike during previous drilling programs according to the company.
The broader Youanmi base metals project is situated 15 km southwest of the Youanmi gold project, a joint venture between Venus and Rox Resources. It boasts a 36km strike length across the Youanmi greenstone belt near the Ramelius owned Mount Magnet gold mine.
Rox Resources holds 70 per cent and Venus holds the remaining 30 per cent of the near mine Youanmi gold project joint venture.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
