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Rox Resources (ASX:RXL) - Managing Director, Alex Passmore
Managing Director, Alex Passmore
Source: Rox Resources
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  • Rox Resources (RXL) latest drill results from the Youanmi Gold Project in Western Australia define a zone of high-grade mineralisation
  • Three diamond drill rigs and a reverse circulation (RC) rig are operating on site, the latest results come from a diamond hole and two RC holes drilled at the Link Prospect
  • The diamond hole intersected two mineralised zones which included two metres at 37.65 grams of gold per tonne (g/t)
  • Drilling is ongoing while the company awaits assays for eight RC holes and nine diamond holes from the Junction and Link areas
  • Shares are trading 0.55 per cent lower at 45.3 cents at 10:37 am AEST

Rox Resources (RXL) latest round of drill results from the Youanmi Gold Project in Western Australia has defined a zone of high-grade mineralisation.

The project is near Mt Magnet and is jointly owned and operated by Rox and fellow ASX-lister Venus Metals (VMC).

Last week, the companies provided an update on the project and reiterated the combined aim of delivering a feasibility study on the restart of mining at Youanmi.

Three diamond drill rigs and a reverse circulation (RC) rig are operating on site, with the company reporting gold intercepts from the program earlier this month.

The latest assay results are from the first diamond hole at the Link Prospect and two RC holes from resource growth drilling being undertaken at the prospect.

The diamond hole returned 6.8 metres at 11.98 grams of gold per tonne (g/t) from 264 metres, which included two metres at 37.65 g/t from 269 metres.

A parallel mineralised zone above this intersection showed 4.9 metres at 6.51 g/t from 250 metres.

Rox explained that the results define a zone of high-grade mineralisation more than 80 metres from the current resource within close proximity to both the base of historic open pits and, in some cases, close to existing underground development.

Moreover, Rox hopes the new mineralisation in this zone adds inventory in an area of resource that it is keen to grow in terms of ounces per vertical metre.

Results are pending for eight RC holes and nine diamond holes from the Junction and Link areas.

Looking forward, drilling continues at Youanmi with an aircore rig set to join the program shortly for regional exploration.

Shares were trading 0.55 per cent lower at 45.3 cents at 10:37 am AEST.

RXL by the numbers
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