Drilling unearths golden prize for Rox at Younami
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Special report: The Youanmi project is shaping up to be a real prize for Rox with the company recording the best results to date in the current campaign.
Shares in Rox Resources (ASX:RXL) and partner Venus Metals climbed after hitting high-grade results of 12m at 12.7 grams per tonne (g/t) gold from 80m, 12m at 8.5g/t gold from 44m and 4m at 11.2g/t gold from 110m at the Youanmi South prospect.
Meanwhile, drilling at the Plant Zone prospect continues to define shallow, potential base load mill feed with results including 4m at 5.6g/t gold from 24m, 30m at 1g/t gold from 96m and 14m at 1.7g/t gold from 70m.
The company said that with results received from about 75 per cent of the planned 9,000m drilling campaign, its understanding of controls on mineralisation at Youanmi was rapidly increasing, which has improved its targeting methodology.
The drilling program, which is testing new conceptual targets to open up new areas of mineralisation and drilling out areas where there is potential for repeat mineralisation, will continue into October with a resource estimation to follow.
“Following on from the release of initial results earlier this month these results confirm the new zone of mineralisation at Youanmi South as potentially being substantial,” managing director Alex Passmore said.
“Drilling at the Plant Zone prospect, a granite stockwork style of mineralisation continues to add scale to the overall project resource.”
Earlier this month, the company reported high-grade hits at Youanmi South that Passmore described as being a positive surprise.
The ongoing successes have also raised the company’s visibility, which played no small part in a number of new institutional investors joining its register through its recent $4m placement.
Youanmi has a current resource of 12.4 million tonnes at 2.97g/t for 1.19 million ounces of contained gold.
It includes a mothballed gold processing facility capable of handling 600,000t of ore per annum.
>> Now watch: 90 Seconds With…Alex Passmore, Rox Resources