Venus Metals (ASX:VMC) said that a regional rock chip sampling program at the Henderson gold project in Western Australia highlighted the potential prospectivity of the Snake Hill area, according to a Wednesday Australian bourse filing.
Historical workings in the area yielded values up to 14.03 grams per tonne grade of gold. A planned stage two reverse circulation drilling program at Hilltop gold mine will test the high-grade lode's orientation and depth extent identified in the current drilling.
It also plans to conduct reverse circulation drilling at the Bellchambers deposit at the Sandstone gold project to upgrade mineralization. It also applied for a mining lease covering around 415 hectares,
including areas considered prospective for identifying additional gold resources and allowing for the positioning of open pits, waste dumps, and stockpiles.
It sold 3.9 million shares of Rox Resources (ASX:RXL) and 8 million shares of Dreadnaught Resources (ASX:DRE), receiving a total cash inflow of around AU$1.1 million.
Its shares fell 6% on market close.
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