Special Report: A shallow, super high-grade gold discovery called Grace — right next to the historic Youanmi open pit — has been confirmed by follow-up drilling. The Rox Resources-led Youanmi joint venture will now pull out all the stops to accelerate a maiden resource.

The Youanmi gold mine, 480km to the northeast of Perth, produced ~667,000oz of gold at 5.47 grams per tonne (g/t) during three main periods: 1908-1921, 1937-1942, and 1987-1997.

In November, the Rox Resources (ASX:RXL)-managed Youanmi gold project JV announced an exceptional 5m at 125.68g/t intercept from surface right next to the historic open pit – an area that had never been drilled previously.

Follow-up drilling at the Grace prospect has also been very positive.

In fact, a December intersection –14m at 31.31g/t from 1m – was featured in geological consultant Opaxe RSC’s top 3 significant drill intersections of the week.

These are industry-leading exploration results, in other words.

READ: Rox confirms new high-grade gold discovery, shares leap +21pc

The latest round of drilling in December moved along strike to the north and down dip of the initial discovery holes. Today’s results included 4m grading 73.81g/t gold inside a larger 8m section grading 37.25g/t, just 44m from surface.

This drilling has identified new gold-bearing veins which are yet to be tested both above and below the Grace Lode.

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The grades are high comparative to historical mining grades and, given the quartz hosted nature, ore is likely to be ‘free milling’ (easy to treat, good recoveries).

This is supported by pre-1942 historical records which describe the Peru Reef as a narrow sub-vertical north trending quartz vein with a mineralised strike length of about 100m towards the northern end of the main Youanmi pit.

Production figures were not recorded; however, the grade is reputed to have averaged more than 60g/t gold from near surface workings.

The JV, still awaiting a final batch of sample results from this program, will immediately commence a drill out of the prospect to accelerate a maiden resource.

Rox managing director Alex Passmore say this program will include 5,000m of RC and 2,000 of diamond drilling.

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“RC Drilling is set to recommence by the end of this week with a diamond drilling crew heading to site shortly thereafter,” he says.

“The results demonstrate the high prospectivity of the Youanmi project area beyond previously identified ore zones.”

>> Now watch: 90 Seconds With…Alex Passmore, Rox Resources

This story was developed in collaboration with Rox Resources, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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