Rox Resources (ASX: RXL) along with JV partner Venus Metals (ASX: VMC) has reported ‘exceptional’ gold grades following RC drilling at the Grace deposit with its Youanmi Gold Project in Western Australia.
These assay results, generated from grade-control drilling across 5m x 5m spacing, demonstrate the continuity of gold mineralisation from surface and provide support for the deposit’s resource model, with key intercepts including:
- Hole RXGC011: 7m @ 35.32g/t Au from 33m
- Hole RXGC091: 5m @ 15.23g.t Au from 3m
- Hole RXGC143: 5m @ 14.29g/t Au from 41m
- Hole RXGC046: 6m @ 11.85g/t Au from 0m
- Hole RXGC010: 6m @ 10.46g/t Au from 17m
- Hole RXGC022: 5m @ 11.49g/t Au from 27m
- Hole RXGC173: 2m @ 22.69g/t Au from 35m
- Hole RXGC170: 7m @ 6.46g/t Au from 48m
- Hole RXGC127: 8m @ 3.47g/t Au from 39m
Commenting on the results, Rox Resources Managing Director Alex Passmore said: “RC drilling at Grace down to a minimum 40m vertical depth on a closely spaced drill pattern (i.e. 5m x 5m intersection spacing over the central and shallow areas) has further delineated high-grade, free milling mineralisation close to surface adjacent to historic mining operations
“RC drilling at Grace … has further delineated high-grade, free milling mineralisation close to surface adjacent to historic mining operations”
As part of development planning for the Youanmi Gold Project we are looking at early development and cash flow generating opportunities including the Grace Area where mineralisation starts from surface. These results support earlier resource work and indicate a strong likelihood of economic mineralisation in this area.”
The company also notes that these results provide a ‘de-risk’ for the deposit, ahead of future commercialisation and exploration activities.
In addition, Rox has completed additional work at the project, including trench sampling, geotechnical analysis, caprock removal and waste rock characterisation.
The Youanmi Gold Project is located approximately 400km east of the township of Geraldton and is co-owned by Rox Resources (70%) and Venus Metals (30%).
The project boasts a Mineral Resource Estimate of 24.6Mt @ 3.78g/t Au for 3.0Moz of contained gold, and has delivered historical production of 667,000 ounces of gold @ 5.42g/t Au from open pit and underground operations at the central Youanmi Gold Mine.
Rox reports that it will continue its dual approach of exploring and conducting mining studies, with a view to upgrade inferred resources to the indicated category, along with feasibility-level underground and open pit metallurgical testwork, scoping-level design and costing for a processing plant, plus mine design and environmental planning.
Images: Rox Resources Limited
