West Australian focused gold exploration and development company Rox Resources (ASX: RXL), has presented its quarterly activities report for the period ending 31 December 2021.
HIGHLIGHTS:
- Youanmi Deeps Resource upgrade lifts total Youanmi Resource to 3 Moz Au
- Capital efficient Albion process shows average gold extraction of 92.2% in conceptual flowsheet for Youanmi sulphide ore
- Continued exploration success at Youanmi indicates resource growth to continue
- Exploration recommences at Mt Fisher – Mt Eureka Gold Project
During the quarter, Rox made significant progress toward establishment of production at the Youanmi Gold Project in WA through ongoing drilling and studies, and also resumed drilling at the Mt Fisher – Mt Eureka Gold Project in WA.
The extensive drilling and exploration activities at Youanmi lead to ongoing success at the Link Prospect, while a newly delineated hanging wall lode at Youanmi (Midway Prospect) is emerging as a strong target for follow-up drilling in 2022.
Subsequent to the quarter end Rox announced an increase in the Total Youanmi Mineral Resource of 1.34Moz Au to 3 Moz Au. The increase was based on drilling results up to the end of October 2021 and included an update to the Deeps Resource only, with the surface resource to be updated by the end of FY22. Pleasingly the resource contains a high-grade component of 9.9Mt at 6.89g/t Au for 2.2M ounces.
Rox is carrying out a number of development studies at Youanmi, including metallurgical testwork to address gold extraction from sulphide ore. During the quarter, two oxidation methods were tested including the pressure oxidation leach process (POX) and the Albion Process. Both saw improved gold recovery rates from the historic 86.8% to 95.6% and 92.2% respectively, with the Albion method preferred because of its lower cost.
Building on an extensive project scale review at the Mt Fisher- Mt Eureka Gold Project in the December quarter, Rox resumed exploration works including a 160-hole, 7,000-metre aircore drilling program, a circa 4000m Reverse Circulation (RC) program and a high-resolution airborne magnetic survey targeting orogenic gold mineralisation and VMS style mineralisation over recently defined key target areas on Rox’s 100% owned tenements.
Rox managing director Alex Passmore said, “The December quarter saw further outstanding exploration results reported from drilling at the Youanmi Gold Project, and also the delivery of impressive results from metallurgical testwork on sulphide ore.
“Our systematic and targeted exploration efforts at Youanmi continue to deliver strong results as we progress toward the potential restart of mining activities. This is clearly demonstrated with the recent resource upgrade announced subsequent to the quarter end. The geology team have done an incredible job in discovering new gold bearing structures.
“The results from metallurgical testwork at Youanmi have been highly encouraging, with the Albion process significantly improving the gold recovery grade at a capital-efficient rate. Continued progress on these fronts emphasises the strong upside and outlook for Youanmi.
“At Rox’s second gold project, Mt Fisher, we are also actively exploring and are excited by the potential for a high-grade discovery.”
