VMC – VENUS METALS HITS BONANZA GRADES

Venus finds success in the drilling results from its Currans Find Prospect, (where is it? ) we don’t know, assume Australia) extending the high grade Gold along strike. Venus says, ” its stage 3 drill program totalling 602m of RC drilling in its 5 hole program intersects high grade gold. One RC Hole intersects 1m @ 39.61g/t Au from 94m. A second hole intersects 1m @ 13.32g/t Au from 110m and a third hole intersects, 4m @ 5.28g/t Au fm 90m”. Great results.

Stage 1 and 2 the Company also says, ” intersects, good grades over 1-4m intersections. Mining of these reasonably thin (but super high bonanza grades) increases the revenue from mining and reduces the costs in mining, if, mined by underground methods, not requiring a strip ratio.

It appears from the report, by lodged by Venus, that the area at Currans is highly mineralised and is very high in gold grades, although not wide in mineralisation, but very high grade Au in the reef systems. As costs of mining increases, with open cut mining, the higher grade mining of Gold by underground method is becoming more popular. As the costs associated with open cut mining has become increasing costly due to the increasingly greater strip ratio’s, costs associated with open cut drill and blast, excavating and trucking of ore and waste, associated with open cut mining costs is becoming increasingly more costly.

I must admit after reading their report (Venus) to the ASX, it would be informative if the company explained to the general investing public what state or country the drilling was carried out. Great results but maybe next time tell the public what country you were drilling in.

Goldman

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