Rox Resources’ (ASX:RXL) amazing ‘Grace’ gold prospect is now 100m longer and still growing. New results include thick, shallow and high grade gold hits — like 8m @ 19.9g/t from 68m — with 15 holes pending.

The Youanmi gold mine, 480km to the northeast of Perth, produced ~667,000oz of gold at an average ore grade of 5.47g/t during three main periods from 1908.

In late 2019, the Rox Resources (ASX:RXL)-managed Youanmi gold project JV drilled a series of follow-up holes near drill hole MLRC020, which returned an exceptional 5m at 125.68g/t intercept from surface.

This area right next to the historic open pit – now called ’Grace’ — had never been drilled. Success was immediate.

ROX
Pic:  The location of ‘Grace’ and ‘Junction’ target areas relative to the historic open pit.

The company then soared in June 2020 when a deepest-ever drill hole at Grace pulled up an incredible 6m at 140g/t gold from 150m.

Following the extensive drilling campaign in 2020, Rox re-examined the structural controls on mineralisation at Youanmi which identified underexplored high priority targets around Grace.

The current RC drilling program has been designed to test the southern continuation of the Grace deposit and other high grade near mine targets including the recently identified high priority ‘Junction’ and ‘Link’ targets.

Assay results have now started to flow in.

Results from the first three holes include:

8m @ 19.9g/t gold from 68m (Grace South)

4m @ 5g/t gold from 40m (Grace South) and

4m @ 6g/t gold from 84m and 8m @ 4.1g/t gold from 112m (Junction)

“We are pleased to report that recently returned drill results have extended the known area of high-grade mineralisation at Grace by 100m to the south of previously determined extent,” the company says.

“[These results] have confirmed the new interpretation is geologically robust and additional RC drilling has been planned.

“This new geological model indicates these targets have strong potential to significantly enhance near mine gold inventory.”

The drilling program is ongoing, with results currently pending for 15 holes.

Current drilling in near mine and resource extension areas will feed into mineral resource estimation and a subsequent definitive feasibility study for the project, Rox says.

Work for 2021 will include substantial RC and diamond drilling programs, metallurgical, hydrogeological, geotechnical and environmental studies to underpin an updated and optimised development plan.

 

This article was developed in collaboration with Rox Resources, 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.

 

Read MoreGold

Featured Companies

You might be interested in