- Rox Resources (RXL) and its joint venture partner, Venus Metals (VMC) have reported further high-grade gold results from the Youanmi Project in WA
- Results have been received for 49 holes from an ongoing reverse circulation program designed to infill a high-grade portion of the Grace prospect
- The ASX listers reported grades of up to 176g/t gold from the emerging prospect
- Drilling is ongoing and will be followed by diamond drilling to facilitate a maiden resource estimate later this year
- Company shares are up 21 per cent and trading for 7.5 cents each
Rox Resources (RXL) and its joint venture partner, Venus Metals (VMC) have reported further high-grade gold results from the Youanmi Project in WA.
These results have been received for 49 holes from a reverse circulation (RC) drilling program. Drilling is designed to infill drilling coverage on the shallow, high-grade section of the Grace prospect.
So far, roughly 3700 metres have been drilled, while this program is ongoing to test depth extensions and facilitate a resource estimation.
Best results from the Grace prospect include; four metres at 88.81g/t gold from 27 metres, including two metres at 176.03g/t gold from 28 metres, 11 metres at 18.75g/t gold from eight metres, including three metres at 61.27g/t gold from 10 metres, nine metres at 9.28g/t gold from nine metres, including two metres at 33.53g/t gold from 11 metres, including four metres at 7.56g/t gold from 17 metres.
Pleasingly, these assays increase the extent of mineralisation of the shallow, near-surface lode at Grace and confirm the results received to date.
“These strong infill results are extremely encouraging and endorse our interpretation for Grace,” Rox Managing Director Alex Passmore said.
“The results, along with outstanding RC assays, will be complemented by upcoming diamond drilling to facilitate a maiden resource estimate, which we are aiming to have completed later this year,” he added.
Deeper step-out drilling is ongoing and assays for another 15 holes are pending.
Company shares are up 21 per cent and trading for 7.5 cents each at 10:08 am AEST.