Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • More high-grade gold has been found at Rox Resources and Venus Metals’ joint Youanmi gold project
  • Gold grades up to 12.7 grams per tonne has been identified
  • A drilling program at Youanmi is expected to continue into next month
  • Youanmi’s resource estimate is nearly 1.2 million ounces of gold

Rox Resources and Venus Metals’ joint Youanmi project has recorded its best results yet as the prospective gold mine continues to deliver.

Gold grades up to 12.7 and 11.2 grams per tonne has most recently been found at the Youanmi South prospect. An increase on the 8.17 grams per tonne previously recorded.

Another 2000 metres has been drilled since the companies last update two weeks ago. Results have been returned for roughly 75 per cent of holes, so far.

“Following on from the release of initial results earlier this month these results confirm the new zone of mineralisation at Youanmi South as potentially being substantial,” Rox’s Managing Director Alex Passmore said.

As drilling continues, the companies are looking to test new targets which may expand mineralisation zones and drill-out significant spots at the gold project.

It is expected the drilling campaign will continue into October. According to Rox, it is the first large-scale exploration program on the Youanmi land since 1997.

Located in Western Australia, the Youanmi project currently holds a resource estimate of nearly 1.2 million ounces of gold. As it stands, both companies hold an equal stake in the project.

VMC by the numbers
More From The Market Herald

" Musgrave Minerals (ASX:MGV) finds ‘bonanza’ gold at Big Sky

Musgrave Minerals (MGV) has received more results from drilling at the Big Sky prospect, which is part of its Cue gold project in
Suvo Strategic Minerals (ASX:SUV) - Executive Director, Aaron Banks (left) and Executive Chairman, Robert Martin (right)

" Suvo Strategic Minerals (ASX:SUV) begins drilling at Nova

Suvo Strategic Minerals (SUV) has begun the second phase of drilling at its Nova silica sands project in Western Australia.

" Torian Resources (ASX:TNR) extends Tyrannus gold footprint

Torian Resources (TNR) has extended gold mineralisation at the Tyrannus prospect within the Mt Stirling gold project near Lenora in Western Australia.
Tempus Resources (ASX:TMR) - Non Executive Chairman, Alexander Molyneux

" Tempus Resources (ASX:TMR) hits 33.7g/t gold at Blue Vein

Tempus Resources (TMR) has intersected up to 33.7 grams of gold per tonne (g/t) from the newly discovered Blue Vein.