Rox Resources Limited (ASX: RXL), in conjunction with its joint venture partner Venus Metals Corporation has announced a highly encouraging update from the drilling at Youanmi Gold Project in WA.
The company reported that the drilling has intersected more exceptional gold grades at Youanmi project.
RXL said that the results were received from drilling along strike to the north and down dip of the initial discovery holes at Grace Prospect.
Significant hits include 8m @ 37.25 g/t Au from 44m including 4m @ 73.81 g/t Au from 48m (Grace); 4m @ 9.96 g/t Au from 4m (new HW zone); 4m @ 18.06 g/t Au from 16m (Grace); 4m @ 11.02 g/t Au from 48m (new FW zone); and 4m @ 5.13 g/t Au from 12m (new FW zone).
Youanmi gold project
The Youanmi gold project is located 480km to the northeast of the city of Perth, Western Australia. The project (OYG JV) is a Joint Venture with Venus Metals Corporation, managed by Rox Resources.
Youanmi straddles a 36km strike length of the Youanmi Greenstone Belt. The total JORC 2012 Compliant Resource for the Youanmi Gold Mine is now estimated as ~1.2 Million Ounces of Gold.
The principal deposits of Youanmi include Youanmi Main, Hill End, United North, Kathleen, Rebel, and Kurrajong6.
Drilling at Grace prospect
The company reported that the drilling at Grace prospect tested along strike and down dip positions relative to the previously released drill results from the drilling campaign at the OYG JV. It may be noted that the OYG JV forms part of the wider Youanmi Gold Project.
Gold mineralisation at the Grace Prospect is interpreted to be shear / fracture zone related occurring in the granite footwall rocks adjacent to the historically mined Youanmi gold mine sequence.
The company said that this round of drilling concluded in late December with assays recently received. Rox resources said that it is awaiting a final batch of sample results from this program.
Drilling at 6 prospects
The company announced that RC drilling was done at the Hill End (hole RXRC129), YM Far South (hole RXRC130), Grace (holes RXRC131 – RXRC137), YM South (hole RXRC138), Kurrajong (RXRC139), and United North prospects (holes RXRC140, RXRC141).
RXL has now announced further drill results from the Company’s drilling campaign at the OYG JV.
Assays received for 4m samples
The company announced that the assay results for the 4m composite samples have been received.
These results are interpreted to be close to true width and define a series of moderate west-dipping quartz hosted gold lodes in granite that remain open at depth and along strike.
The company said that this drilling has identified new goldbearing veins which are yet to be tested both above and below the Grace Lode previously identified in recent drilling.
RXL reported that the composite intervals exceeding 0.25 g/t will be re-assayed on a 1m basis.
The company announced significant intersections from the drilling along strike to the north and down dip of the intial disovery holes at Grace Prospect.
Significant intersections include hole RXRC135: 8m @ 37.25 g/t Au from 44m (Grace) Including: 4m @ 73.81 g/t Au from 48m (Grace) 4m @ 9.96 g/t Au from 4m (new HW zone); RXRC133: 4m @ 18.06 g/t Au from 16m (Grace); RXRC132: 4m @ 11.02 g/t Au from 48m (new FW zone); and 4m @ 5.13 g/t Au from 12m (new FW zone).
RXL said that the grades seen at Grace Prospect are high relative to historical mining grades and given the quartz hosted nature ore is likely to be free milling in nature.
RXL said that an RC drilling rig and crew are redeploying to Youanmi immediately to commence a drill out of the Grace Prospect in sufficient detail to facilitiate resource definition.
The company said that in addition, several diamond holes are planned to characterise the wider gold bearing veins to allow better correlation between drill sections.
RXL said that initially 5000m of RC and 2000m of diamond drilling is planned. The Company said that it would release further updates on outstanding assay results, and the upcoming RC and diamond drill programs.
RXL’s Managing Director Alex Passmore said: “We are very pleased to report these follow on high-grade results from Grace Prospect.
RC Drilling is set to recommence by the end of this week with a diamond drilling crew heading to site shortly thereafter.
The results demonstrate the high prospectivity of the Youanmi Project area beyond previously identified ore zones.”