Rox Resources Limited (ASX: RXL) continues to intersect high-grade gold in its early 2020 drilling programme at the new Grace prospect discovery at the historic Youanmi Project in Western Australia
Managing Director, Alex Passmore, said the company’s drilling has defined a significant very high-grade zone of mineralisation (greater than 30 gram-metres) extending from surface, open to the north and which lies within a broader wide zone of mineralisation.
This is currently interpreted as a northerly plunging high-grade, gold mineralised body, where, in places, multiple shoots are present.
“The Grace prospect is emerging as an exciting high-grade deposit with one of the better recent intersections returned from hole RXRC151 being a spectacular 7m @ 54.6 g/t Au from 8m,” Mr Passmore said.
“This newly discovered mineralisation has all the hallmarks needed to bring it into early production-it is close to surface, lies near to existing pits and sits within a granted mining lease which already has substantial infrastructure.”
Mr Passmore said that as a result of the evolving COVID-19 pandemic and to ensure the health and safety of our employees and contractors the drilling programme has paused.
“The company will utilise this hiatus in drilling to interrogate data received from the airborne magnetic survey completed in January this year, 250 holes drilled since July last year, as well as the extensive inherited data base to continue the search for and delineation of high grade near surface deposits at Youanmi.”
The Youanmi Gold Mine is located 480 km to the northeast of Perth in Western Australia. The Youanmi Mining Centre has produced an estimated 667,000 oz of gold (at 5.47 g/t Au) since discovery in 1901 during three main periods: 1908 to 1921, 1937 to 1942, and 1987 to 1997.
The project is situated in the Youanmi Greenstone Belt, within the Southern Cross Province of the Archaean Yilgarn Craton in Western Australia. The structure of the Youanmi Project is dominated by the north-trending Youanmi Fault Zone. Most of the gold mineralisation seen at the project is hosted within north-northwest splays off the north-northeast trending Youanmi Fault.