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 provide an update on drill results from the Youanmi Gold Project near Mt Magnet, WA, in the OYG JV area (Rox 70% and Manager, VMC 30%).
- Known high-grade mineralisation extended at Link Prospect with high-grade drill intercepts received from 120m down plunge of the existing resource envelope.
- Latest step out hole result is one of the best intersections at Link to date:
- RXDD026: 7.25m @ 15.02g/t Au from 315.8m, including 2.9m @ 22.37g/t Au from 320.1m.
- Additional high-grade gold intercepts received from resource extensional drilling at Link include:
- RXRC410: 3m @ 7.73g/t Au from 186m, within a broader zone of 12m @ 4.46g/t Au from 184m;
- RXRC409: 3m @ 6.45g/t Au from 236m, within a broader zone of 7m @ 3.56g/t Au from 234m; and
- RXRC408: 4m @ 6.24g/t Au from 239m.
- These results demonstrate strong potential for further increases to the Youanmi mineral resource estimate (June 2021 resource: 1.7Moz at 2.85g/t Au).
Drilling continues at Youanmi, with diamond and RC rigs operating at the OYG JV and regional aircore drilling progressing on the Regional Joint Ventures (Rox 50% and Manager, VMC 50%).
Highlights of this round of results include 7.25m @ 15.02g/t Au from 315.8m, including 2.9m @ 22.37g/t Au from 320.1m intersected in RXDD026, 12m @ 4.46g/t Au from 184m, including 3m @ 7.73g/t Au from 186m intersected in RXRC410 and 7m @ 3.56g/t Au from 234m, including 3m @ 6.45g/t Au from 236m intersected in RXRC409.
RXDD026 extends a zone of high-grade mineralisation more than 120m from the current resource and highlights the down-plunge extension of defined high-grade ore zones.
RXRC408, RXRC409 and RXRC410 which are located close to existing underground development (Figure 1) extend known mineralisation from the boundary of the existing resource envelope and improve the confidence of the down plunge trend in this area.
Managing Director Alex Passmore commented:
“It is pleasing that we continue to get excellent drilling results from the current program at Youanmi. These results at the Link Prospect come from well outside the existing resource envelope, but importantly demonstrate the downward continuity of existing ore zones adding further confidence to the potential for resource additions in this key area of focus that is located in close proximity to existing underground workings.
In conjunction with new thick and relatively coherent mineralisation encountered in a parallel lode at Youanmi (see ASX: 05 September 2021) we are confident of being able to report solid resource additions to underpin the economics of Youanmi in due course.”