Youanmi Gold International Chinese Investor Presentation
Perth, Aug 1, 2018 AEST (ABN Newswire) - Venus Metals Corporation Limited (
ASX:VMC) provides the Company's latest presentation titled "The Historic Youanmi Gold Mine".
THE YOUANMI GOLD MINE
- Youanmi is one of the last big WA gold mines to be re-examined for production under today's high gold prices of AUD$1,700/oz.
- The Youanmi Gold Mine closed in 1995 with gold prices at AUD$450/oz after producing over 670,000 ounces at an average 5.4g/t Au.
- Venus has entered into two option agreements to enable it to purchase the Youanmi Gold Mine.
- Venus has upgraded all open pit and high grade underground resources to JORC 2012 compliance after extensive modelling of the existing 15,183 drill hole data base.
- Further major upside potential has been identified through the concept of developing a single "super pit" over a 2km strike zone (connecting all existing pits from surface).
- Drilling has shown significant potential for high grade resource extensions at depth.
- Venus holds all the surrounding exploration acreage where EM surveys have outlined extensive anomalies for testing to provide new discovery opportunities.
INDICATED AND INFERRED JORC 2012 RESOURCE ESTIMATE - TOTAL 1,190,600 OUNCES OF GOLD*
* Refer VMC ASX releases dated 28 May 2018 and 29 June 2018
YOUANMI GOLD PROJECT FORWARD PLANNING
- Complete due diligence prior to exercise of the purchase options
- Commence scoping studies on the near surface deposits for the "super pit" concept
- Drilling to upgrade resources for planning purposes
- Engineering studies for high volume treatment alternative
- Pre-feasibility studies and project finance discussions
- Preliminary discussions with open pit and underground mine operators
- Regional exploration to drill test identified targets
To view the full presentation, please visit:
http://abnnewswire.net/lnk/Q9O087O9
About Venus Metals Corporation Limited
Venus Metals Corporation Limited (ASX:VMC) is a West Australian based Company with a focus on gold, base metals, vanadium and lithium exploration projects. The Company aims to increase shareholder value through targeted exploration success on its projects.
The Company's major gold project is the Youanmi Gold Mine, located 500km north-east of Perth. The Youanmi Gold Mine is now jointly owned by Venus Metals (30%) and Rox Resources Limited (70%); Indicated and Inferred Resource of the mine is in excess of 3 million ounces of gold.
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