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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) reports gold assays from the Link prospect at the Youanmi gold mine which is held in a joint venture with Venus Metals
  • Best results include three metres at 9.35 grams per tonne (g/t) gold from 182 metres, within five metres at 6.33g/t gold from 180 metres
  • Rox says it’s on track to increase Youanmi’s resource inventory from 1.7 million ounces which it’ll do off the back of the Link, Junction, hanging wall lode and mine pillar areas
  • Rox Resources shares are trading down 2.67 per cent at 36.5 cents a share and Venus is trading steady at 18 cents

Rox Resources (RXL) has reported gold assays from the Link prospect at the Youanmi gold mine in Western Australia.

The mine is held in a 70:30 joint venture with ASX-listed Venus Metals with Rox owning the majority interest.

Best results included three metres at 9.35 grams per tonne (g/t) gold from 182 metres, within a broader interval of five metres at 6.33g/t gold from 180 metres.

Further results include two metres at 7.93g/t gold from 279 metres within nine metres at 3.02g/t gold from 272 metres.

Based on results from collective drill studies, the company is on track to increase its resource inventory at Youanmi from 1.7 million ounces at 2.85g/t gold.

RXL plans in increasing the resource inventory off the back of Link, Junction, hanging wall lode and mine pillar areas.

Managing Director Alex Passmore said the assay results were promising.

“We are pleased to report further high-grade results from the Link Prospect at Youanmi. These latest assays add to our confidence that mineralisation in this area is hanging
together nicely and will deliver into an updated resource inventory in due course,” he said.

“Link mineralisation occurs from near-surface to 370 metres below the surface and is open at depth.

“Link plunges below the previously mined United North open pit and is also in close proximity to underground workings at depth, yet was not discovered until our recent exploration programs.”

Rox Resources shares were trading down 2.67 per cent at 36.5 cents a share at 2:13 pm AEDT. Venus’ shares were trading steady at 18 cents.

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