Rox Resources (ASX:RXL) - Managing Director, Alex Passmore
Managing Director, Alex Passmore
Source: Rox Resources
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  • Rox Resources (RXL) has defined a zone of high-grade mineralisation at the Link prospect within the Youanmi gold project in WA
  • The project is held in a 70:30 joint venture with Venus Metals (VMS) with Rox owning the majority 70 per cent stake
  • Assays include 7.23g/t gold over three metres and 4.17g/t gold over eight metres
  • Rox Managing Director Alex Passmore says the shallow intercepts demonstrate good up-plunge continuity of gold mineralisation
  • Rox’s shares have been trading down 5.56 per cent at 34 cents and Venus is trading in the grey at 16.5 cents

Rox Resources (RXL) has provided an update on drill results from the Youanmi gold project near Mt Magnet, Western Australia.

The Youanmi Gold Project is held in a joint venture with ASX-lister Venus Metals (VMC) who owns a 30 per cent stake while Rox owns the majority 70 per cent interest.

The latest results come from shallower drilling up-plunge at the Link prospect within an area that hasn’t been drill tested.

Results include nine metres at 4.27 grams of gold per tonne (g/t) from 128 metres including three metres at 7.23g/t gold from 131 metres, eight metres at 4.17g/t gold from 178 metres including two metres at 8.16g/t gold from 183 metres.

The company said the assays define a zone of high-grade mineralisation between the base of the historical open pits and underground development.

Rox Managing Director Alex Passmoresaid as part of ongoing development studies, the company is looking at various mining scenarios, including open-pit mining.

“These shallow intercepts at Link prospect demonstrate good up-plunge continuity of gold mineralisation and add further confidence that we will be able to add to the shallow resource inventory in this area,” he said.

Drilling so far at Link has defined a high-grade mineralised zone more than 200 metres from the current resource envelope, with extensive down-plunge continuity of high-grade ore zones.

The company is waiting on assays for 42 holes.

Rox’s shares were down 5.56 per cent to trade at 34 cents at 11:23 am AEDT. Venus was trading in the grey at 16.5 cents.

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