Australian gold company, Rox Resources Limited (ASX: RXL, which is currently trading on a deferred settlement basis: RXLDB), in conjunction with its joint venture partner Venus Metals Corporation Limited (ASX: VMC) is pleased to provide an update on exploration activities at Youanmi Gold Project near Mt Magnet, WA, in the OYG JV area (Rox 70% and Manager, VMC 30%).
- Assays received for 7 RC holes drilled at Link Prospect (May 2021). All holes intersected gold mineralisation.
- Assaying of previously unsampled historical diamond core returns 6.1m @ 8.22g/t at Link. Re-sampling program continues.
- High-grade mineralisation extended down plunge at Link.
- RXRC390: 5m @ 5.96g/t Au from 138m
- RXRC389: 4m @ 3.71g/t Au from 216m
- RXRC386: 4m @ 2.98g/t Au from 162m.
- RC and diamond drilling continues at new high priority targets, Grace South, Link and Junction.
- Assays pending for 8 RC holes and 9 diamond holes at Junction and Link areas.
Drilling continues at Youanmi with an RC rig and two Diamond drill rigs operating on site. An additional diamond rig and an aircore rig are set to join the program shortly.
Assay results have been received for seven holes from the current RC program being undertaken at the Link Prospect (Figure 1). These holes were drilled during May. Results are awaited for eight RC and nine diamond holes with drilling ongoing.
The highlight of this round of results include 3m @ 4.42g/t Au from 101m and 5m @ 5.96g/t Au from 138m, including 2m @ 12.9g/t Au from 138m intersected in RXRC390.
Managing Director Alex Passmore commented:
“Exploration at Youanmi continues to be very active with our rig count growing. These results from Link are from drilling completed in May as our exploration program on the ground was gathering pace. It’s highly encouraging to report new mineralised positions previously unrecognised close to existing mine development. We look forward to updating the market as more drill results come to hand.”
The results define a zone of high-grade mineralisation within close proximity to both the base of historic open pits and in some cases close to existing underground development.
The current program 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.