Bellchambers Drilling Yields Up to 3.74 g/t Au Over 19m, Resource Update Imminent

Encouraging Drilling Results at Bellchambers

Venus Metals Corporation has delivered a solid update from its recent reverse circulation (RC) drilling campaign at the Bellchambers Gold Deposit and the nearby Rangeview prospects, located 23 kilometres south of Sandstone in Western Australia. The program, comprising 34 holes and nearly 1,750 metres of drilling, has returned gold intersections that align well with the company’s expectations and previous resource models.

Noteworthy results include a 29-metre intercept grading 1.55 grams per tonne (g/t) gold starting at 11 metres depth, and a 19-metre interval averaging 3.74 g/t gold, which notably contains a high-grade 1-metre section at 38.3 g/t. These results reinforce the continuity of mineralisation within the Bellchambers deposit and extend the known gold zones at Rangeview.

Resource Confirmation and Upgrade Potential

The drilling was primarily designed to infill and confirm key areas within the existing Mineral Resource Estimate (MRE), which currently stands at 722,000 tonnes at 1.31 g/t gold, equating to approximately 30,500 ounces. Of this, 22,100 ounces are classified as indicated resources, with the remainder inferred. The new data is expected to support an updated MRE within the next two months, with a strong possibility that portions of the indicated resource, particularly near surface oxide mineralisation, will be upgraded to the measured category.

This upgrade is significant as it enhances the confidence level in the resource, a critical step towards advancing the project towards potential mine development. The mineralisation is hosted within a complex geological setting of sheared banded iron formations, cherts, and mafic volcanic rocks, with oxidation extending to around 45-50 metres depth, which may favour processing options.

Next Steps, Metallurgical Testing and Diamond Drilling

Venus Metals plans to collect representative samples from the recent drilling for metallurgical test work aimed at confirming expected gold recoveries. This is a vital component in assessing the economic viability of the deposit. Additionally, a diamond drilling program is scheduled to commence shortly, which will provide further detailed geological information and samples to refine development strategies.

The company also benefits from a mine gate sale agreement with Rox Resources Limited, offering a potential pathway for ore treatment and processing, which could streamline project advancement.

Strategic Positioning in Western Australia’s Gold Belt

Situated within a prolific gold region, the Bellchambers project complements Venus Metals’ broader portfolio of Australian mineral assets. Its proximity to the Youanmi Gold Project, operated by Rox Resources, underscores the strategic value of the area. Historical mining in the early 1900s yielded high-grade gold, and modern exploration continues to unlock new potential.

As Venus Metals moves towards updating its resource and advancing metallurgical studies, the market will be watching closely for signs that Bellchambers can transition from exploration to development, potentially adding a new chapter to the company’s growth story.