Latest Assays Show Eight Holes In A Row Intersected Gold Mineralisation
Rox Resources Limited (ASX: RXL) has had further drilling success with its joint venture partner Venus Metals Corporation Limited at the Youanmi Gold Project near Mt Magnet, Western Australia, in the OYG JV area (Rox 70% and Manager, VMC 30%).
Managing Director, Alex Passmore, said RC drilling at Youanmi continues to yield high grade results building on the known extent of mineralisation at Link.
Assay results have been received for further eight holes from the current RC programme, results are awaited for 13 holes. Mr Passmore said that pleasingly, all holes received intersected gold mineralisation. The company noted that assay turnaround times are running at approximately five to six weeks.
Encouragingly, recently returned drill results have extended the known area of high-grade mineralisation at Link by 100m beneath the historically mined high-grade United North Pit. The highlight of this round of results being 4m @ 7.2g/t Au from 131m, including 2m @ 12.6g/t Au from 131m intersected in RXRC369.
These results also define a zone of high-grade mineralisation within 150m of existing underground development.
RC drilling remains ongoing. The current program has been designed to follow up recent high-grade results at Link, Junction and the Grace deposit.
“We are pleased to report these near mine extensional drill results from Youanmi. The structural targets down plunge of historic pits that comprise Link are close to historic mine development and have the potential to add to mineable inventory for relatively low cost. We look forward to updating the market as more results come to hand,” Mr Passmore said.
The Link Target is the area beneath the historically mined northern pits (United/Rebel/ Kathleen/ Kurrajong). Rox’s exploration model shows this area is directly down plunge of high-grade shoots mined in the northern pits and underground Hill End Deeps mine. Little to no previous drilling has been completed in this area.
The RC holes reported in this announcement (RXRC369: 4m @ 7.2g/t Au from 131m, including 2m @ 12.6g/t Au from 131m and RXRC368: 4m @ 2.7g/t Au from 164m, including 2m @ 4.9g/t Au from 164m) demonstrate the Link area has strong potential to significantly enhance near mine gold inventory with close proximity to existing underground development. Follow up RC drilling at Link is underway.
Current drilling is delineating and extending shallow high-grade ore shoots at Grace, Link and Junction with the aim of increasing the near-mine resource. Additionally, results from the RC program will aid in refining deeper down plunge targets for drill testing with an extensive upcoming diamond core drilling program.
The current drilling in near mine and resource extension areas will feed into mineral resource estimation and a subsequent definitive feasibility study for the project. Work for 2021 will include substantial RC and diamond drilling programmes, metallurgical, hydrogeological, geotechnical and environmental studies to underpin an updated and optimised development plan.
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