Gold exploration and development company Rox Resources (ASX: RXL) has provided its quarterly activities report for the period ended 31 March 2025.
HIGHLIGHTS
- Definitive Feasibility Study (DFS):
- Completed the detailed project schedule and identification of critical path items
- Metallurgical test work well under way, with comminution/flotation largely completed. Commenced Albion test work on concentrate samples
- Works for early dewatering well advanced
- Approximately 90% of 35,000m step up drilling campaign complete:
- High-grade results to inform a mineral resource update – targeted for Q2 2025 – which will underpin the DFS and new mine plan
- Commencement of air core sterilisation drilling campaign, focussed on the proposed tailings storage facility site
- Completed Tranche 2 of the Company’s capital raise for outstanding $13 million of the total $27m
- Well-funded for delivery of Youanmi Gold Project DFS
- Entered a binding agreement with High-Tech Metals (ASX: HTM) to sell Mt Fisher – Mt Eureka Gold tenements for a combination of cash, equity and royalties
- Phillip Wilding appointed as Managing Director and CEO
- David Boyd appointed as Non-Executive Director
- Greg Hoskins appointed as Chief Financial Officer (February) and Company Secretary (April)
- BurnVoir Corporate Finance appointed as financial advisor in April
- Cash balance of $17.1 million at 31 March 2025
Managing Director & CEO Mr Phillip Wilding commented:
“Rox is signing off on another significant quarter of progress both at the Youanmi Gold Project and on the corporate front.
“Study and permitting works are advanced with major contracts awarded, and outstanding workstreams close to being awarded. Metallurgical work is progressing well with the concentrate delivered to the Glencore Technology / Core Resources laboratories in Brisbane to undertake the Albion Process testwork.
“It is an important time, as this testwork will confirm recovery from the “average mine blends” along with providing the key inputs for the mill design. Dewatering is expected to commence in May, pending approvals, with refurbishment works to the fully permitted evaporation ponds largely complete, pipes onsite and installation crews working hard in early April.
“Our drilling programs have progressed at a rapid rate with DDH1 and Strike Drilling achieving target ahead of schedule and within budget. The assay results we have received under United North, the Northern side of Youanmi Main, have been fantastic and helping us grow the resource into these areas, along with confirming our geological understanding of the high-grade shoots.
“Prospect has been outstanding, with this being a new area to be added to the resource, proximal to the proposed developments. Pollard has delivered more very high-grade hits, within the high-grade plunging shoots.
“As the major component of the 35,000m step-up drill program comes to a conclusion, the team plan to deliver the updated Mineral Resource Estimate this financial year.
“The appointments made to the board and management, and of BurnVoir Corporate Finance as debt advisors, are key additions to our team, ensuring we have the right skillsets and experience to deliver the DFS and drive the Youanmi Gold Project to a Final Investment Decision in Q4 this calendar year.”
