West Australian gold exploration and development company Rox Resources (ASX: RXL) has reported initial drilling results from the substantial reverse circulation and diamond drilling programs currently underway at the Youanmi Gold Project near Mt Magnet in WA.
HIGHLIGHTS:
- The first of a series of holes to test a range of structural trends has returned continuous bonanza grades in RC drilling with;
- – RXRC458: 28m @ 34.81g/t Au from 204m, including;
- 8m @ 51.96g/t from 207m, including;
- 10m@ 79.55g/t from 211m, including;
- 3m @ 138.07g/t from 218m.
- True widths are currently unconstrained, with follow up drilling to commence to determine the orientation and dip direction of this exciting discovery
- Youanmi South is a target area of largely untested mafic volcanic rocks southeast of the Youanmi Main Lode
- Youanmi South is outside the Main Lode corridor, and, importantly adds confidence in the exploration upside through delivery of the first substantial intercept east of the Main Lode
- Recent results from the Midway discovery have highlighted the significance of structural splays off the Youanmi Main lode, which have rapidly become a priority of the current exploration drilling
- Drilling is underway to further constrain controls on mineralisation at Youanmi South, along with drilling at the emerging high-grade Midway discovery
The Rox exploration team has identified a number of near-mine exploration targets, including new drill results from the ‘Youanmi South’ prospect and the high-grade ‘Midway’ structure, both discoveries made by the OYG JV.
These high-grade, mineralised structures are both located nearby the Youanmi Main Pit and represent new exploration opportunities.
The interpretation of these mineralised structures is in its infancy, and Rox is prioritising its understanding of splay structures off the Youanmi Main zone, both to the west (Midway) and east (Youanmi South) with the aim of identifying new high-grade zones with strike continuity.
However the early stage results from Youanmi South are clearly significant and open up an area largely untested at depth for potential resource growth. The exceptional drilling results, coupled with the detailed structural information, will provide valuable information to expand these emerging discoveries.
The result from the first hole at Youanmi South opens up a new near-mine area for exploration and potential high-grade resource growth.
Rox Resources managing director Robert Ryan said:
“Youanmi South is just 250 metres from the Youanmi main open pit, yet historical drilling was largely restricted to the weathered zone so true geology has been unconstrained. The exceptional grade and continuous highgrade tenor of the intersection in an area previously untested by drilling is cause for cautious optimism whilst we determine orientation of the mineralised zone.
“A core focus of our current exploration program is to test the splay structures off the historically-mined zone structures along the granite margin. The results from Midway, and those reported here on Youanmi South emphasize that Youanmi has the potential to deliver extensive resource growth with quality ounces through near-mine discovery. Our confidence continues to increase that Youanmi is a large-scale, high-grade system that is still in the early stages of understanding and resource evaluation.
“Our team is doing an excellent job in processing all available data, refining our targeting and delivering on efficient execution. We look forward to a steady stream of updates as the drill program continues.”
