- Rox Resources (RXL) and Venus Metals (VMC) are reporting an improvement in gold extraction rates from Youanmi’s Deeps Resource
- The Youanmi Gold Project is a historic mine in Western Australia which Rox and Venus are re-exploring under multiple joint ventures
- Historical production at Youanmi averaged gold recovery of 86.8 per cent, while the new metallurgical testwork improved extraction to 95.6 per cent
- The companies are now pushing ahead with commissioning scoping level process plant design and costing for the mine
- Shares in RXL are down 1.33 per cent at 37 cents per share, while VML shares are up 5.71 per cent at 18.5 cents each
Rox Resources (RXL) and Venus Metals (VMC) are reporting an improvement in gold extraction rates from Youanmi’s Deeps Resource.
The Youanmi Gold Project is a historic mine in Western Australia which Rox and Venus are re-exploring under multiple joint ventures.
Deeps is located within the OYG joint venture area which RXL has a 70 per cent stake in while VML has a 30 per cent interest.
New metallurgical testwork from the area has delivered a gold extraction rate of roughly 95.6 per cent.
In comparison, historic production at Youanmi only averaged a gold recovery rate of 86.8 per cent.
The testwork was carried out using new techniques and forms part of a wider development study into potentially re-starting production at Youanmi.
Rox Resources Managing Director Alex Passmore said the new testwork results were very encouraging.
“In June we reported a 30 per cent increase in the Youanmi Deeps Resource, and now we are pleased to report that advances in gold extraction technology over the last 30 years have made a significant difference in gold recovery,” Mr Passmore said.
“Preliminary metallurgical testwork indicates a 10 per cent increase on historical gold recoveries by utilising a pressure oxidation leach process.”
Following the successful testwork, Rox and Venus have decided to push ahead with commissioning a scoping level process plant design and costing for the mine.
Como Engineers have been assigned to carry out the scoping studies, with work beginning last month.
Shares in RXL were down 1.33 per cent at 37 cents per share, while VML shares were up 5.71 per cent at 18.5 cents each.