West Australian focused gold exploration and development company, Rox Resources Limited (ASX: RXL), is pleased to present its quarterly activities report for the period ending 30 June 2021.
- Substantial 39% increase to Youanmi Gold Project Resource to 1.7Moz at 2.85 g/t.
- Extensional drilling at Youanmi pursuing significant growth.
- High grade intercepts at Junction and Link prospects.
- Key Executive appointments to accelerate studies into the development of Youanmi.
- Cannon Resources demerger and IPO on track.
- 1 for 15 Share Consolidation approved.
Youanmi Gold Project Rox Resources Limited (Rox) holds a 70% interest in the OYG Joint Venture and is the manager at the historic Youanmi mining centre. Venus Metals Corporation Limited (ASX:VMC) (“Venus” or “VMC”) retains a 30% interest.
The Youanmi Gold Project is located 480km NE of Perth and 400km inland and to the east of Geraldton. The Youanmi Gold Mine located near the centre of the project tenement package has historic production of 667,000 ounces of gold grading 5.42g/t from open pit (1987 – 1993) and underground operations. The operation was closed in 1997 when the gold price was approximately $400 per ounce with the last parcel of ore mined underground at 14.6 g/t Au grade.
The Youanmi Project Mineral Resource Estimate of 18.1Mt at 2.85 g/t Au for 1.7Moz of gold can be categorised into a near surface portion of 14.7Mt at 1.69 g/t Au for 0.8M ounces of gold and the Youanmi deeps of 3.4Mt at 7.9 g/t Au for 0.9M ounces of gold1. There is significant scope to increase resources with further drilling.