West Australian-focused gold exploration and development company Rox Resources (ASX: RXL) is pleased to provide its quarterly report for the period ended 30 September 2024.
HIGHLIGHTS:
Project Development
- Delivered Pre-Feasibility Study for the 2.3Moz Youanmi Gold Project in WA, confirming the potential to develop a financially attractive standalone high-grade, high-margin project with initial ~7.7-year mine life:
- Low AISC of A$1,676/oz
- Maiden high-grade Ore Reserve of 546koz at 4.4g/t Au at A$2,600/oz
- Commenced Definitive Feasibility Study workstreams including:
- Development of detailed project schedule identifying critical path items
- DFS Metallurgical testwork including comminution, flotation and Albion related testwork
- Preparation of core samples for metallurgical testwork, geotechnical testwork and flotation optimisation testwork
Exploration and Resource definition
- Commenced 11,000m Resource definition and near-mine exploration drilling campaign:
- Resource definition drilling to convert underground Resources from Inferred to Indicated classification, while also providing valuable drill core for metallurgical studies
- Near-mine exploration drilling to further test the extension of the Youanmi Main Lode towards Youanmi South and the high-grade Paddy’s Lode discovery
- Drilling across various domains in the underground Resource will aid further metallurgical test work as part of the Definitive Feasibility Study
- Post quarter end high-grade gold assay results were received for both Paddy’s Lodes and United North
Corporate
- Phillip Wilding was appointed as Chief Executive Officer, and Nathan Stoitis appointed as a NonExecutive Director to the Rox Board
- Cash balance of $3.4m at 30 September 2024
Rox CEO Phillip Wilding said:
“I am excited to join Rox Resources at this pivotal stage for the Youanmi Gold Project as we deliver our dual strategy of developing the Project while continuing to add quality ounces through strategic exploration and resource definition drilling.
“The Pre-Feasibility Study highlighted Youanmi’s enormous potential to deliver high-margin ounces for ~7,7 years. Our Definitive Feasibility Study is now underway, with metallurgical testwork, project scheduling and other testwork initiated. Rox is targeting completion of the DFS in 2025 with strategies currently being explored to accelerate completion.
“In parallel, our resource definition and near-mine exploration drilling kicked off with drilling aimed at obtaining core for metallurgical testwork across various domains, resource definition and near-mine exploration drilling. Recent results from this drilling campaign have been very encouraging ”.
