West Australian focused gold exploration and development company, Rox Resources Limited (ASX: RXL), in conjunction with its joint venture partner Venus Metals Corporation Limited (ASX: VMC) is pleased to announce it has commenced an aircore drilling program on the Youanmi Regional JV tenements (Rox 50% and Manager, VMC 50%).
- 540 hole, 22,000 metre aircore drilling program has commenced on Youanmi Regional JV tenements.
- Program targets 18.5km highly-prospective greenstone corridor between Youanmi and Penny deposits.
- 4 high-priority target areas identified from recently completed data review.
- Targets are either new, or inadequately tested by historic drilling.
The program will initially comprise approximately 22,000m of aircore drilling targeting high-grade orogenic gold mineralisation within an 18.5km corridor between the Youanmi and Penny gold deposits that is underlain by sheared and faulted greenstone sequences, mostly under shallow cover.
Since assuming management of the Regional Joint Ventures (ASX Release 12 April 2021), Rox has completed a comprehensive review of the extensive historical datasets including drilling, geochemical and geophysical. The review has identified numerous targets over an 18km strike continuation of the Youanmi Shear Zone and subsidiary faults that host the major gold occurrences in the region (Penny Project and Youanmi Mine). New targets are largely untested, and known occurrences that require follow-up work.
Managing Director Alex Passmore commented:
“Since entering the VMC JV (i.e. Youanmi regional ground) we have learnt a lot about the regional geology of the Youanmi belt that has a history of high-grade discoveries but remains substantially underexplored. A thorough regional targeting exercise drawing on both geophysical and geochemical data has identified numerous priority target areas that we are excited to get out and test.”