Rox Resources Limited (ASX: RXL) has reported that new drilling at the emerging Midway discovery in Western Australia has hit thick high-grade intercepts.
High-grade intercepts include: 6.76m @15.40g/t Au from 169.13m; 3.73m @10.25g/t Au from 405.80m; and 2.86m @22.03g/t Au from 356.39m
Rox is exploring Midway in conjunction with its joint venture partner Venus Metals Corporation (ASX: VMC), with the JV celebrating promising initial drilling results from the substantial reverse circulation (RC) and diamond drilling (DD) programs at the Youanmi Gold Project (OYG JV).
Exploration drilling has initially targeted the exciting, high-grade ‘Midway’ discovery made by the OYG JV in 2021. This high-grade, multi-lode system is located just 300m from the hanging-wall of the Youanmi Main Lode and presents an excellent near mine exploration target which is open in all directions. The exceptional drilling results, coupled with the detailed structural information, will provide valuable information to expand the emerging discovery.
4,726 RC meters and 1,708 diamond meters have been completed to date from the planned 16,000m RC and 7,000m DD drill programs. Drilling is ongoing and is expected to be completed in April.
Rox Resources Managing Director, Robert Ryan, said the Midway discovery has vast potential to grow with follow-up work underway.
“From the initial drilling campaign last year, excitement has been building for the latest drilling results at Midway and they have not disappointed, with thick, high-grade gold intercepts proving the exploration concept. Follow-up drilling is currently being planned and will commence in the coming weeks.
“The results from Midway to date have shown that this discovery has the potential to grow substantially in all directions in a corridor previously untested with drilling. The high-grade tenor of the results to date show Midway has the potential to be higher grade than the Youanmi main lode and has the potential to significantly contribute to the gold resource.
“2023 is evolving into an exciting year for the company as we continue our three pronged approach for building value for shareholders through adding ounces through exploration, increasing resource confidence through in- fill drilling and de-risking the project through feasibility work.”
For further information please visit: https://www.roxresources.com.au/
