- Australian gold and nickel company Rox Resources (RXL) has commenced an aircore drilling program at its Youanmi Gold Project in Western Australia
- The drilling program includes approximately 100 holes, for 4000 metres, and will test three separate target areas near the Youanmi Shear Zone
- The three targets are prospective for Grace, Youanmi Mine and Penny West style mineralisation
- On market close for the weekend, Rox is up 3.33 per cent and is trading for 6.2 cents per share
Australian gold and nickel company Rox Resources (RXL) has commenced an aircore drilling program at its Youanmi Gold Project in Western Australia.
The drilling program includes approximately 100 holes, for 4000 metres, and will test three separate target areas close to the Youanmi Shear Zone.
“The Youanmi Shear Zone is a major state scale feature and is the boundary
between the Murchison and Southern Cross Domains of the Youanmi Terrane of the Yilgarn Craton,” the company explained.
The three targets are prospective for Grace, Youanmi Mine and Penny West style mineralisation.
“Drilling will target regions of complex structural geometry that are potentially fluid focusing and gold deposition trap sites,” the company added.
Managing Director, Alex Passmore, is looking forward to the drilling program.
“Very little historical exploration has been completed on these tenements in which Rox holds a 100 per cent interest,” he told the market on Friday.
“Rox has identified high priority targets on these tenements via the application of our growing geological understanding of the Youanmi Belt,” he added.
Earlier this month, Rox and its joint venture partner, Venus Metals (VMC), updated the market on its Youanmi Gold Mine.
The companies said in this report that the first phase of diamond drilling is complete and despite pending results, logging has indicated that the gold is hosted within a west-dipping zone of altered granite.
On market close for the weekend, Rox is up 3.33 per cent and is trading for 6.2 cents per share.