- Rox Resources (RXL) reports high-grade drilling results from the Youanmi Gold Project near Mt Magnet in WA
- ROX and joint venture partner Venus Metals (VMC) have received results for four reverse circulation (RC) holes and two diamond holes drilled in May
- Best intercepts included 17 metres at 5.14 grams of gold per tonne, with assays for a further 14 RC holes and 14 diamond holes still pending
- Work is ongoing with drilling now focussed on new high-priority targets at the Link and Junction areas aimed at increasing the resource
- Rox Resources shares are up five per cent to 42 cents each at 11:08 am AEST
Rox Resources (RXL) has reported high-grade drilling results from the Youanmi Gold Project near Mt Magnet in Western Australia.
Various drill works are ongoing at Youanmi, which is dually owned by Rox and joint venture (JV) partner and ASX-lister Venus Metals (VMC).
The company recently received assay results for four reverse circulation (RC) holes and two diamond holes drilled in the OYG JV area as part of the current program in May.
Highlight intercepts included 17 metres at 5.14 grams of gold per tonne (g/t) from 151 metres, which also contained 11 metres at 7g/t from 156 metres and was returned from the Link area.
Another hole drilled at Junction returned nine metres at 4.57g/t gold from 148 metres, while a third at Youanmi South recovered two metres at 10.02g/t gold from 268 metres.
Rox Resources Managing Director Alex Passmore said the company was pleased by the success of the program.
“These high-grade results at Link will contribute to resource growth at Youanmi,” he said.
“They transform an area at relevant mining depths that were previously modelled as low-grade into a priority zone for adding ounces.”
Notably, the company said the results demonstrated strong potential for further increases in to the Youanmi resource.
ROX recently upgraded the project’s global resource to 1.7 million ounces at 2.85g/t gold.
Accordingly, drilling is now focused on new high-priority targets at near-mine areas, Link and Junction.
Further assays for 14 RC holes and 14 diamond holes are still pending for these sites.
Rox Resources shares were up five per cent to 42 cents each at 11:08 am AEST.