New Discovery For Youanmi Project JV
Rox Resources Limited (ASX: RXL) and Joint Venture partner Venus Metals Corporation Limited have intersected high‐grade gold mineralisation in recent reverse circulation (RC) and aircore (AC) drilling at Taylor’s Reef Prospect, as part of the Youanmi Project JV in Western Australia.
The Taylor’s Reef Prospect is a new unworked zone within the Currans Find mining lease where high‐grade gold was recovered from surface workings in recent times. Best results from the recent drilling at Taylor’s Reef Prospect include: 3m @ 19.58g/t Aufrom 21m Incl. 1m @ 55.81g/t Aufrom 23m, and 3m @ 14.30g/t Aufrom 73m Incl. 1m @ 19.86g/t Aufrom 74m and 2m @ 6.67 g/t Aufrom 57m Incl. 1m @ 12.27g/t Aufrom 58m
Two recently drilled AC holes c. 50m east‐northeast of the original gold‐mineralised reef intersected shallow high‐grade gold mineralization. A follow‐up RC hole, drilled beneath high‐grade gold intersections in these AC holes, confirmed the extension of the mineralization at depth.
In addition, the RC hole discovered a third, very high‐grade, lode at shallow depth that is open at depth and along strike.
The high‐grade gold discovery at Taylor’s Reef Prospect is interpreted as a continuation of high‐ grade gold lodes at Currans North Prospect, offset by a north‐northeast trending fault.
With widespread gold anomalies in laterite to the southwest of Taylor’s Reef, it forms an approximately 900m long northeast‐trending target zone for further drilling and evaluation.
Project background
Rox and Venus Metals jointly acquired a combined 90% interest in ML 57/641 “Currans Find” of 300ha and a combined 90% interest in ML 57/642 of 59ha “Pinchers”. The 90% interest is shared equally between VMC and RXL VMC is the manager of the joint venture
The Currans Find Mining Lease is a historical high‐grade gold producer. Gold mineralization at Currans Find is hosted in multiple ENE‐trending quartz veins within mafic, intermediate and ultramafic rocks.
These rock types are also host to the Penny West and Columbia –Magenta deposits south of Currans Find. At Currans North Prospect, previous RC drilling intersected multiple high‐grade gold intercepts associated with stacked quartz lodes
RC drilling is planned along strike of Taylor’s Reef Prospect and beneath the recent high‐grade gold intersections to explore the potential depth extension of the multiple gold‐mineralized quartz veins.
