West Australian gold exploration and development company Rox Resources (ASX: RXL) has provided an activities update as it progresses the Definitive Feasibility Study workstreams at the Youanmi Gold Project in WA.
Highlights:
- Tranche 1 and Share Purchase Plan (SPP) completed as part of $27 million raise
- General Meeting for Tranche 2 planned for January 20, 2025
- 35,000m step-up drill campaign well underway
- DDH1 and Strike Drilling awarded the drilling contract
- Three drill rigs were operating in the lead up to Christmas
- Four Diamond Rigs (DD) and one Reverse Circulation (RC) rigs currently onsite
- Camp works progressing to support the drilling campaign – plan to operate five to six rigs over coming months
- Dewatering of Youanmi open pit and underground mine: preparing to award works for remediation of the evaporation ponds and installation of pumping infrastructure
- Metallurgical samples all received by lab for comminution and flotation test work and concentrate generation for Albion test work
- Assessing potential to utilise existing infrastructure and early access to old workings in H2 CY25
Rox Resources’ Chief Executive Officer, Phillip Wilding, commented:
“Rox has hit the ground running in 2025 as we prepare for a transformational year. We are well-funded, our team has the experience and right skillsets and, with a clearly articulated pathway to production, we are well-positioned to deliver a Definitive Feasibility Study (DFS) before the end of the calendar year.
“Commencing our major 35,000m step up DD and RC program and having first samples to the lab before the Christmas break was a great achievement. We had three rigs spinning in the lead up to the break, and there are currently five rigs on site punching through the metres.
“We are targeting substantial Resource growth at Youanmi with an emphasis on higher confidence categories to build out the ore reserve and look forward to updating our investors as first results become available.
“The company is also exploring options to utilise existing Project infrastructure and potentially access the old workings in the second half of this year.
“With a strong pipeline of works scheduled for the next 12 months and record gold prices, it is a fantastic time to be progressing the Youanmi Gold Project to a potential high grade underground gold mining operation.”
