- Early drill results from Rox Resources'(RXL) Youanmi project in Western Australia have yielded some encouraging initial gold intercepts
- Initial assays from three reverse circulation three drills executed at the project have returned notable findings of 19.9g/t gold, including four metres at 38.3g/t gold from 68 metres
- The drilling, which was conducted with joint venture partner Venus Metals (VMC) has also extended high-grade gold mineralisation by 100 metres
- Managing Director Alex Passmore said he is pleased with the findings, with results from the remaining 12 drill holes still to come
- Rox Resources is up a solid 10 per cent following the announcement, trading at 4.4 cents per share
Early drill results from Rox Resources'(RXL) Youanmi project in Western Australia have yielded some encouraging initial gold intercepts.
Assays results from the first three holes drilled as part of the broader 15-hole effort conducted with its joint venture partner, Venus Metals (VMC), in February have extended high-grade mineralisation by 100 metres.
A highlight from this particular round of drilling returned eight metres at 19.9g/t gold, including four metres at 38.3g/t gold from 68 metres.
Further results from the two remaining holes include four metres at 5.0g/t gold from 40 metres in Granite at Grace South and four metres at 6.0g/t gold from 84 metres and eight metres at 4.1g/t gold from 112 metres at Junction.
The company’s reverse circulation drill program is looking to test the southern
continuation of the Grace deposit and other high-grade targets including the recently identified high priority Junction and Link targets.
Further to this, results from the campaign are hoped to aid in refining deeper down plunge targets, with the company hinting at an additional upcoming extensive diamond core drilling programme.
Previous drill targets in 2021 were “not adequately tested” due to poor contractor performance, according to Rox, however, the company has since engaged a new drilling contractor with diamond drilling to resume in due course.
Managing Director Alex Passmore said he is pleased with the findings and looks forward to updating the market as the remaining drill results come in.
The gold project, situated near Mt Magnet in Western Australia is split 70 per cent and 30 per cent between Rox and Venus, respectively.
Rox Resources is up a solid 10 per cent following the announcement, trading at 4.4 cents per share at 12:26 pm AEDT.