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An announcement from Venus Metals Corporation Limited ( (AU:VMC) ) is now available.
Venus Metals Corporation has defined an exploration target beneath the existing Bellchambers Gold Deposit, 25 kilometres south of Sandstone, highlighting potential additional mineralisation at depth beyond the current mineral resource estimate of 766,000 tonnes at 1.27 g/t gold for 31,400 ounces. The new conceptual exploration target, prepared by Widenbar and Associates in accordance with the JORC 2012 Code, is estimated at 800,000 to 950,000 tonnes grading 1.75 to 2.00 g/t gold for 45,000 to 60,000 ounces, based on historical and recent drilling that indicates two main mineralised zones with about 15 metres true thickness; while still requiring further drilling to be converted into a formal resource, the target underscores the potential for underground extensions that could enhance the scale and future development prospects of the Bellchambers project.
The most recent analyst rating on (AU:VMC) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on Venus Metals Corporation Limited stock, see the AU:VMC Stock Forecast page.
More about Venus Metals Corporation Limited
Venus Metals Corporation Limited is an Australian exploration company with a broad portfolio of gold, copper, base metals, lithium, titanium and vanadium projects in Western Australia. The company also holds a 1% royalty over the Youanmi Gold Mine and is a significant shareholder in Rox Resources Limited, positioning it as a diversified player in the regional resources sector.
Average Trading Volume: 609,422
Technical Sentiment Signal: Buy
Current Market Cap: A$39.02M
For detailed information about VMC stock, go to TipRanks’ Stock Analysis page.