Rox joint venture unearths high-grade gold discovery at Younami
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Special Report: Rox and its joint venture partner have revealed a game-changing gold intersection, about 5km from Spectrum’s high-grade Penny West project. Rox believes this could represent a “new corridor of mineralisation” on the underexplored Youanmi gold belt.
Recent geochemical studies by Rox Resources (ASX:RXL) and its Youanmi projects JV partner suggest that many high-grade gold hits in the area are associated with anomalous (low-grade) lead, zinc and copper.
This association with base metals – particularly lead – was also reported by Spectrum Metals (ASX:SPX) at the neighbouring Penny West mine.
A recent drilling program by the JV, designed to follow up on these anomalous lead-zinc-copper trends, just returned a “best ever” gold intersection, including 4m at 7.02 grams per tonne (g/t), just 24m from surface.
This confirms that base metals could act as a ‘signpost’ to big, Penny West-type discoveries at the Youanmi project.
“These air core results build on the growing recognition of the gold endowment of the Youanmi belt and importantly feed into our regional understanding of controls on mineralisation,” Rox managing director Alex Passmore says.
“Impressively, this intersection has identified a potential new corridor of mineralisation.”
Rox considers this to be a highly significant new development in the exploration of the Youanmi shear zone.
4m at ~7g/t is the best gold hit to date along the shear zone south of the Youanmi mining area and north of the Penny West and Columbia-Magenta prospects, Rox says.
And the high-grade mineralisation in this drillhole is ‘open’ at depth and along strike.
Follow-up drilling to explore the new zone of gold mineralisation is scheduled to kick off very soon.