Rox is hitting gold all over the place at Youanmi
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Special Report: A drilling blitz at Rox Resources’ (ASX:RXL) high grade Youanmi joint venture has unearthed some very compelling targets.
The Youanmi gold mine, 480km from Perth, has produced ~667,000oz of gold (at 5.47 g/t) since discovery in 1901 during three main periods: 1908 to 1921, 1937 to 1942, and 1987 to 1997.
But Rox and JV partner Venus Metals (ASX:VMC) have since proven there’s a lot more to be found here.
In June last year, Rox hit an eyewatering 25m interval at Grace grading 34.79 grams per tonne (g/t) gold, 143m from surface.
The granite in which Grace was found was previous considered not prospective.
Drilling undertaken in the latter part of 2020 was focussed on the exciting Grace prospect, other near mine targets in the granite, and areas of known mineralisation near to existing resources.
The southern extent of the Grace structure, and the structure at depth have emerged as compelling targets.
The brand new ‘Junction’ target is the region where the Grace Lode and Mine Lode converge beneath both the Youanmi main pit and historically mined high-grade Pollard lode.
These lodes were principally mined in the 1930’s with historical mine records indicating production of 260,000oz at 15 g/t mined grade.
Junction was not tested by past explorers.
It will be drilled for the first time by Rox in late January or early February 2021.
Elsewhere, aircore drilling to test new targets to the north of the Youanmi mine area has identified extensive gold anomalism in the ‘Youanmi granite’.
This program delineated ten large >250ppb Au anomalous areas: five of these are +500m in strike length.
The best result returned was 4m @ 15.95g/t gold from 36m in granite, 3km north of the Youanmi mine and the Grace zone.
“These anomalies add confidence to the proposition that the Youanmi granite may host large tonnage free milling oxide material,” Rox says.
“The anomalies are to be tested in Q1 2021 with RC drilling.”
Activities since the start of October 2020 also focused on identifying new high-grade, north-south trending structures like Grace north of prospects Hill End, United North, Kathleen, and Rebel.
RC drilling of 22 holes for 3,928m was completed.
Several new zones of mineralisation have been identified which are expected to show favourable metallurgical characteristics like Grace “and may present future opportunities for incorporation into shallow oxide resource inventory”.
The intersection zones of these gold bearing structures with regional structures in mafic lithologies are key targets for further RC drilling to be undertaken in Q1 2021.
This article was developed in collaboration with Rox, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.