- Rox Resources (RXL) and joint venture partner, Venus Metals (VMC), have intersected high-grade gold at the Sovereign prospect
- Sovereign is part of the Youanmi Gold Project in Western Australia
- The companies have conducted reverse circulation (RC) drilling to follow-up on previous aircore and RC drilling which returned high-grade results
- Building on this, latest results returned gold grading up to 5.03 and 15.83 grams per tonne
- Based on ground‐magnetic data, the companies have identified six targets
- One of the targets is located immediately west of Sovereign and drilling is planned to test west and southwest of the prospect
- Rox’s shares are trading 1.61 per cent higher for 6.3 cents and Venus Metals’ shares are trading 3.77 per cent higher for 27.5 cents
Rox Resources (RXL) and joint venture partner, Venus Metals (VMC), have received results from recent reverse circulation (RC) drilling at the Sovereign prospect.
The Sovereign prospect is located on E57/1019 which is part of the Youanmi Gold Project in Western Australia. Venus and Rox hold an equally-split 50:50 interest in the project, however, Rox’s interest includes gold rights only.
RC drilling followed-up on previous aircore and RC results from late last year and mid-way through this year. Pleasingly, the latest RC drilling has extended the high‐grade gold mineralisation down-dip.
Best results include eight metres at 5.03g/t gold from 160 metres including two metres at 15.83g/t gold from 160 metres, and three metres at 2.86g/t gold from 165 metres.
These results build on previous results of four metres at 2.68g/t gold from 116 metres including one metre at 5.43g/t gold from 118 metres, 10 metres at 3.64g/t gold from 79 metres including two metres at 10.64g/t gold from 82 metres, and three metres at 6.61g/t gold from 78 metres including one metre at 11.61g/t gold from 79 metres.
A review of recent ground‐magnetic surveys at Currans Find and Sovereign shows prominent northeast and north‐northeast-trending structures that align with the orientation of high‐grade gold mineralisation at the Taylor’s Reef, Currans North, and Red White and Blue prospects.
Based on this data, the companies have identified six targets along northeast trends in the eastern part of the survey area. One of the targets is located immediately west of Sovereign and RC drilling is planned to test west and southwest of the prospect.
Further drilling will test the depth extent of the high‐grade mineralisation at Sovereign and expand the drilling program along the newly-interpreted trend.
Rox’s shares are trading 1.61 per cent higher for 6.3 cents and Venus Metals’ shares are trading 3.77 per cent higher for 27.5 cents at 10:33 am AEST.