Venus Metals Announces Exploration Target for Sandstone Gold Project in Western Australia

Australian mineral exploration company Venus Metals has recently announced the latest exploration target assessment for the Bell Chambers deposit within its Sandstone Gold Project in Western Australia. This assessment provides new data references for the project's resource potential.

According to a study commissioned by the company and completed by Widenbar and Associates, the exploration target for the Bell Chambers deposit is estimated to contain between 800,000 and 950,000 tonnes of ore, with an expected gold grade ranging from 1.75 to 2 grams per tonne. Based on this, the potential gold content of this target is estimated to be approximately 45,000 to 60,000 ounces. This exploration target area is located north of the current indicated and inferred resource zones, primarily based on the interpretation of two main mineralized zones with an approximate true thickness of 15 meters each. The ore grade at depth in this area, calculated at a cut-off grade of 1 gram per tonne of gold, is approximately 1.95 grams of gold per tonne.

The newly defined exploration target is a significant addition to the existing resources of the Bell Chambers deposit. The deposit currently has a global resource of 766,000 tonnes, with a gold grade of 1.27 grams per tonne, containing 31,400 ounces of gold. The area historically underwent reverse circulation and diamond drilling between 1988 and 2001, and Venus Metals itself tested the depth extension of the mineralization zone in 2020 through nine drill holes.