Australian gold and nickel company, Rox Resources Limited (ASX: RXL) in conjunction with its joint venture partner Venus Metals Corporation Limited (ASX: VMC) is pleased to report that extensional drilling at Youanmi continues to show that the project has significant upside.
- Diamond drilling targeting extensions of high-grade shoots, step out drilling aimed at identifying recurring ore shoots at depth.
- RC drilling continues delineating and extending known shallow high-grade ore shoots at Junction, Link and Grace.
- Kathleen results received.
- Assays pending for 14 RC holes and 2 diamond holes.
- Updated Mineral Resource Estimate for Youanmi Gold Project expected this month.
Drilling at the Youanmi Gold Project near Mt Magnet, WA, in the OYG JV area (Rox 70% and Manager, VMC 30%) continues with an RC drilling and Diamond drill rigs operating. These are to be joined by an additional Diamond drilling rig shortly.
The next phase of drilling will involve more than 2,000m of diamond coring (in addition to RC pre-collars) testing depth extensions to high-grade ore shoots down plunge at Junction and Link. Additionally, step out drilling will test Rox’s exploration model with the aim of identifying recurring NW-plunging ore shoots within SW-plunging mineralised envelopes.
At the time of writing assay results are pending for 14 RC holes and 2 diamond holes drilled at the Link, Junction and Grace Targets.
Managing Director Alex Passmore commented:
“The activity levels at Youanmi have continually ramped up through the year with the Company’s exploration model delivering exceptional results at Junction. We look forward to receiving results of the diamond drilling currently underway. The Company’s drilling results and re-interpretation work that has been undertaken since acquiring its interest in the Youanmi Gold Project have been incorporated into a new mineral resource estimate which is in the final stages of validation and which we look forward to releasing in the short term.”