Investors got a first look in at the United North prospect, part of Rox Resources’ (ASX: RXL) Youanmi gold project in WA – and so far there is a lot to like.
For new Rox boss Phill Wilding, though, it’s all about keeping the drill bit spinning, shoring up Resource confidence and progressing with the Youanmi Definitive Feasibility Study (DFS) – targeted for the end of CY25.
These latest results were the first assays in the program returned from United North, and the second batch of assays from Rox’s systematic 11,000m diamond and RC drilling Resource conversion program at Youanmi.
The big hit this time was drillhole RXDD129:
- 30.12m at 19.81g/t Au from 324.50m
- Including 23.94m at 24.70g/t Au from 324.5m
It follows the first assays from the program, reported in early-October, that confirmed the extension of the Paddy’s Lode mineralisation down-dip from the discovery hole.
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Mr Wilding said Rox was committed to growing its understanding of Youanmi through strategic and systematic drilling.
“Drilling at United North is our first recent endeavour to track mineralisation north and builds on recent developments in understanding mineralisation regionally,” he said.
“These assays show potential repetitions of high-grade channel shoots within the growing United North mineralisation envelope, and we look forward to updating the market once the remaining assays are returned.
“The final component of this program is near completion and consists of three diamond tails to test mineralisation along secondary structures propagating from the major Youanmi Shear Zone at Youanmi North.
“These assays show potential repetitions of high-grade channel shoots within the growing United North mineralisation envelope.
“Importantly, we have also produced valuable sample material required for metallurgical testing as we progress the Definitive Feasibility Study.”
The Youanmi Project has a total Mineral Resource estimate of 16.2Mt at 4.4 g/t Au for 2,300koz, and a Maiden Probable Ore Reserve estimate of 3.8Mt at 4.4 g/t Au for 546koz.
In the recently completed Pre-feasibility Study (PFS), Rox confirmed Youanmi as a standalone, high-grade, high-margin project with an initial ~7.7-year life at an All In Sustaining Cost (AISC) of $1,676/oz.
Importantly, it will priorities the production of gold dore, rather than gold concentrate.
Next steps are to commence permitting and seek all necessary approvals, investigate site water supply options, complete Aboriginal heritage surveys and relevant approvals for the Lake Noondie discharge pipeline and progress discussions for project financing.
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