- Rox Resources (RXL) intersects further high-grade gold mineralisation from drilling at the joint-ventured Youanmi gold project in Western Australia’s Murchison region
- Drilling was undertaken down-plunge of historical workings
- Gold grades peaked at 48.01 g/t and the results add confidence to the three million ounce resource inventory
- Assay results are pending for a further 23 reverse circulation and five diamond holes and are expected to be reported on in due course
- RXL shares up 2.41 per cent to 42.5 cents
Rox Resources (RXL) has intersected further high-grade gold mineralisation from drilling at the joint-ventured Youanmi gold project near Mt Magnet in Western Australia’s Murchison region.
The company owns a 70 per cent interest in the project with Venus Metals Corporation (VMC) holding the remaining 30 per cent.
The high-grade gold mineralisation was encountered down-plunge of old underground workings where the drilling was undertaken to test for extensions to the historically mined high-grade stopes.
Better intersections from the latest round of drilling included 1.12 metres grading 48.01 grams per tonne gold from 299.78 metres, 3.25 metres at 32.22 g/t from 282 metres, 2.66 metres at 11.6 g/t from 307.15 metres and four metres at 10.91 g/t from 196 metres.
The assay results point to a potentially significant source of material down plunge to the north-west, according to Rox.
Drilling was also carried out to assess the potential to extract the pillars left unmined during pre-1942 mining operations, returning stand-out hits including 0.73 metres at 38.65 g/t gold from 266.6 metres and 1.2 metres at 5.84 g/t from 149.6 metres.
“The high-grade results reported today add further confidence to our mining scenarios which are being progressively developed,” Rox Managing Director Alex Passmore said.
“Pleasingly, drilling in near-mine areas that were left behind by historical mining operations when the gold price and mining methods were vastly different to today is showing good widths and grade of mineralisation.
“Elsewhere in the newly delineated areas of mineralisation (Link and Junction) we continue to prove up the continuity of gold lodes.”
Rox also completed an infill diamond hole at the Link prospect with a focus on growing Youanmi’s recently reported resource inventory of three million ounces of contained gold from ore grading 3.78 g/t gold.
Drilling to date has defined a zone of high-grade mineralisation more than 200 metres from the current resource envelope with extensive down-plunge continuity of high-grade ore zones.
Notable intercepts included 2.7 metres at 6.09 g/t from 206.3 metres, three metres at 6.09 g/t from 348 metres and three metres at 4.12 g/t from 309 metres.
Mineralisation at Link remains open down-plunge to the north-west and up-plunge to the south-east.
RXL shares were up 2.41 per cent to 42.5 cents at 12:10 pm AEDT.