West Australian gold exploration and development company Rox Resources Limited (ASX: RXL), in conjunction with its JV partner Venus Metals Corporation Limited (ASX: VMC), has reported exceptional grade-control drilling results from the shallow Grace deposit at the Youanmi Gold Project near Mt Magnet.
The grade control results demonstrate continuity of the mineralisation, reconcile well with the resource model in this area and further de-risk the Grace deposit.
(above 30 gram-metres) on 5x5m drill spacing at Grace include:
- RXGC011: 7m @ 35.32g/t Au from 33m
- RXGC091: 5m @ 15.23g/t Au from 3m
- RXGC143: 5m @ 14.29g/t Au from 41m
- RXGC046: 6m @ 11.85g/t Au from 0m
- RXGC010: 6m @ 10.46g/t Au from 17m
- RXGC022: 5m @ 11.49g/t Au from 27m
- RXGC173: 2m @ 22.69g/t Au from 35m
- RXGC170: 7m @ 6.46g/t Au from 48m
- RXGC127: 8m @ 3.47g/t Au from 39m
“RC drilling at Grace down to a minimum 40m vertical depth on a closely spaced drill pattern has further delineated high-grade, free-milling mineralisation close to surface adjacent to historic mining operations,” managing director Alex Passmore said.
“As part of development planning for the Youanmi Gold Project we are looking at early development and cash flow generating opportunities including the Grace area, where mineralisation starts from surface.
“These results support earlier resource work and indicate a strong likelihood of economic mineralisation in this area.”