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Venus Metals Corporation commences 5,000-metre drill program

Drilling is targeting a coincident magnetic, electromagnetic and geochemical anomaly nearby to the historical Penny West gold mine.

Venus Metals Corporation Ltd - Venus Metals Corporation commences 5,000-metre drill program
Historical drilling in the target area is very limited

Venus Metals Corporation Ltd (ASX:VMC) has commenced an aircore drill program targeting an area within the Penny West shear zone within the Youanmi Gold Project in Western Australia.

The aircore drilling program in conjunction with its joint venture partner Rox Resources Ltd (ASX:RXL) is expected to be completed by late August 2019.

The target is north of the historical Penny West gold mine and also the Penny North gold discovery made by Spectrum Metals Ltd (ASX:SPX) in March 2019.

The discovery by Spectrum has been a major catalyst for the Spectrum share price with it running from 2.5 cents to 12 cents over the past month.

Aircore drilling at this target follows recent stage two drilling at the Currans Find North prospect, also within the Youanmi Gold Project.

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Price: 0.185 AUD

ASX:VMC
Market: ASX
Market Cap: $27.76 m
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