West Australian gold exploration and development JV partners, Rox Resources Limited (ASX: RXL) and Venus Metals Corporation (ASX: VMC) have received promising initial drilling results from the substantial reverse circulation (RC) and diamond drilling (DD) programmes currently underway at the Youanmi Gold Project.
Highlight intercepts include:
– RXRC458: 28m @34.81g/t Au from 204m, including; 18m @51.96g/t from 207m, including; 10m @79.55g/t from 211m, including; 3.0m @138.07g/t from 218m.
The Rox exploration team has identified a number of near-mine exploration targets, including new drill results from the ‘Youanmi South’ prospect and the high-grade ‘Midway’ structure, both discoveries made by the OYG JV.
These high-grade, mineralized structures are both located nearby the Youanmi Main Pit and represent new exploration opportunities. The interpretation of these mineralized structures is in its infancy, and Rox is prioritising its understanding of splay structures off the Youanmi Main zone, both to the west (Midway) and east (Youanmi South) with the aim of identifying new high-grade zones with strike continuity.
However, the early stage results from Youanmi South, as reported herein, are clearly significant and open up an area largely untested at depth for potential resource growth.
The exceptional drilling results, coupled with the detailed structural information, will provide valuable information to expand these emerging discoveries.
Rox Resources Managing Director, Robert Ryan, said the result from the first hole at Youanmi South is an exciting development regardless of true lode widths, as it opens up a new near-mine area for exploration and potential high-grade resource growth.
“Youanmi South is just 250 metres from the Youanmi main open pit, yet historical drilling was largely restricted to the weathered zone so true geology has been unconstrained. The exceptional grade and continuous high- grade tenor of the intersection in an area previously untested by drilling is cause for cautious optimism whilst we determine orientation of the mineralized zone.
“A core focus of our current exploration program is to test the splay structures off the historically-mined zone structures along the granite margin. The results from Midway, and those reported here on Youanmi South emphasize that Youanmi has the potential to deliver extensive resource growth with quality ounces through near-mine discovery.
“Our confidence continues to increase that Youanmi is a large-scale, high-grade system that is still in the early stages of understanding and resource evaluation.
“Our team is doing an excellent job in processing all available data, refining our targeting and delivering on efficient execution. We look forward to a steady stream of updates as the drill program continues.”
For further information please visit: https://www.roxresources.com.au/