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 activities at the Youanmi Gold Project, and in particular the high-grade, near surface Grace deposit, located within the OYG JV area (Rox 70% and Manager, VMC 30%).
HIGHLIGHTS
- D10 ripping trial completed to establish “Free Dig Status” for mining to 60 metres below surface in the Grace area.
- Surface caprock removed to expose high-grade Grace mineralisation for mapping and sampling.
- Program will provide key data to evaluate early-stage mining opportunity at Grace as part of Youanmi Feasibility Study.
- Four drill rigs now on site continuing both resource and exploration drilling
Aside from its significant investment in drilling the OYG JV has also been conducting a range of activities to evaluate early stage mining opportunities at the near surface, high-grade Grace deposit. This will feed into the broader Youanmi Feasibility Study that has been initiated following the significant resource upgrade for the Youanmi Project (ASX release 23 June 2021). To drive the Feasibility work programs Rox has recently appointed a highly experienced Mine Planning Engineer.
Managing Director Alex Passmore commented:
“We are very pleased to provide this update on some of the many ancillary exploration and development activities that are happening at Youanmi and to report that the organisation is building out a highly capable team to deliver Feasibility studies on the restart of mining at Youanmi, and ultimately transitioning into development.
The Grace orebody has been confirmed as shallow and free-digging in nature. These results support the concept that Grace will be an early contributor to production and cash flow upon the development of the Youanmi project.”
