Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Joint partners Rox Resources and Venus Metals have intersected more high-grade gold at the Youanmi Gold Project
  • Rox has drilled over 11,000 metres at the project and results for 80 per cent of the program have been returned
  • Drilling focused on the Plant-Zone and Commonwealth Prospect
  • Once completed, the companies will shift focus to the Youanmi South Prospect
  • Rox’s share price is up 5.26 per cent and trading for 2 cents apiece while Venus’ is steady and trading for 18.5 cents

Joint partners Rox Resources and Venus Metals have intersected more high-grade gold mineralisation at the Youanmi Gold Project.

Rox has drilled over 11,000 metres and has received results for around 80 per cent of the program.

Recent drilling has been focused on the Plant Zone and the high-grade Commonwealth Prospect.

Next week, Rox will shift its focus to the Youanmi South Prospect following the completion of geophysical surveying.

Youanmi South has previously returned some of the best intersections of the current drill program with results of 12 metres at 12.7g/t gold from 80 metres, 4 metres at 11.2g/t gold from 110 metres, and 12 metres at 8.5g/t gold from 44 metres.

“These results continue to show the excellent potential of the Youanmi belt and the OYG JV in particular and we look forward to presenting further results when they become available,” Managing Director Alex Passmore commented.

Drilling at Plant-Zone continues to define shallow, potential ‘baseload mill feed’ with new results showing continuous to shallow mineralisation.

Results include 8 metres at 2.62g/t gold from 60 metres and 9 metres at 1.04g/t gold from 83 metres.

“Drilling at the Plant-Zone prospect, a granite stockwork style of mineralisation now delineated over a 1.4 kilometre strike length, continues to add scale to the overall project gold inventory,” Alex said.

This current reverse circulation (RC) drill program is ongoing and will continue throughout November. Resource estimation work will follow.

At 1:41 pm AEDT, Rox’s share price is up 5.26 per cent with share trading for 2 cents apiece while Venus’ share price is steady with shares trading for 18.5 cents each.

RXL by the numbers
More From The Market Herald
Ballymore Resources (ASX:BMR) - Non Executive Chairman, Nick Jorss

" Ballymore Resources (ASX:BMR) begins drilling in Queensland

Ballymore Resources (ASX:BMR) has begun drilling at the Matthews Pinnacle and Seventy Mile Mount prospects in…
Ballymore Resources (ASX:BMR) - Non Executive Chairman, Nick Jorss

" Ballymore Resources (ASX:BMR) intersects significant assays at Seventy Mile Mount

Ballymore Resources (ASX:BMR) has intersected significant assays in its initial drilling program at the Seventy Mile…

" Ballymore Resources (ASX:BMR) begins stage one drilling at Ruddygore

Ballymore Resources (ASX:BMR) has begun stage one drilling at the Ruddygore Prospect in North Queensland.

" Ballymore Resources (ASX:BMR) confirms displacement of Duffer lode at Dittmer mine, QLD

Ballymore Resources (ASX:BMR) has confirmed through diamond drilling that the historic Duffer lode at its Dittmer…