West Australian gold exploration and development company, Rox Resources (ASX: RXL), has announced a significant increase to the Mineral Resource Estimate for the Youanmi Gold Project near Mt Magnet, with the total resource at 3.2 million ounces of gold including more than 1 million in the Youanmi Near Surface Resource.
The Youanmi Near Surface Resource increased by 204Koz Au to 1,004Koz Au – an increase of 26 per cent – following analysis of 16,000m of additional RC drilling above 160m vertical depth.
Rox has increased the MRE by 93 per cent from the 1.7 million ounces recorded in June 2021 to the current 3.2 million ounces, at a market-leading average $7 per ounce discovery cost of just $7 per ounce – following intensive exploration throughout 2021 and early 2022.
Rox Managing Director Alex Passmore said the scale of Youanmi was becoming more apparent and in line with Rox’s high level of confidence in the Project.
“This resource will underpin the open pit component of the company’s Scoping Study which is on track for completion in the middle of the year,” Mr Passmore said.