Special Report: Rox Resources and Venus Metals have significantly upgraded their Currans Find North gold discovery in the Youanmi province of WA with new “bonanza” grade hits.

The Youanmi province is running hot right now thanks to very high-grade discoveries by junior players like Spectrum Metals (ASX:SPX), which has become somewhat of a market darling.

And it looks as if Rox (ASX:RXL) and Venus (ASX:VMC) have the same rocks at their Currans Find project that Spectrum has at its Penny West project.

Currans Find is hosted in multiple east-northeast-trending quartz veins within mafic, ultramafic and intermediate rocks.

These rock types are also host to the Penny West and Columbia–Magenta deposits south of Currans Find.

It is a feature of the deposits that they show very high gold grades.

While bonanza-grade gold intersections have previously been reported from stage two drilling at Currans Find North, these results have been significantly upgraded in 1m samples taken from 4m composite intervals.

These new samples returned hits of 3m at 32.58 grams per tonne (g/t) gold, including 1m at 76.03g/t, from 115m.

That intercept was previously reported as 8m at 7.81g/t from 112m.

Another upgraded hit was 4m at 9.25g/t from 46m, including 2m at 16.05g/t from 48m.

That was previously reported as 8m at 2.29g/t from 44m.

There’s no actual definition of ‘bonanza’ by the way – it’s just a way to describe speccy gold grades.

In fact, there’s no official definition for high-grade either, but it’s generally accepted an orebody above 5g/t meets that criteria.

On top of the upgraded intercepts, Rox and Venus have uncovered new bonanza-grade gold mineralisation.

Stage one and two drilling has delivered further hits of 3m at 27.5g/t gold, including 1m at 72.67g/t, from 39m; 2m at 13.34g/t, including 1m at 25.38g/t, from 61m; and 3m at 25g/t from 109m, including 1m at 57.15g/t from 110m.

Rox and Venus have so far drilled 602m across four holes and one hole extension.

The pair struck a deal back in April to jointly acquire a 90 per cent stake in the historic high-grade Currans Find prospect.

Rox has a substantial ground position in the Youanmi through two joint ventures.

The Youanmi gold mine produced an estimated 667,000oz of gold (at 5.47g/t) since discovery in 1901.

Most of the gold produced was from the Youanmi mine, with additional gold sourced from Youangarra, Penny West, Columbia-Magenta and Currans.

>> Gold stocks guide: Here’s everything you need to know

 

 

This story was developed in collaboration with Rox Resources, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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