Rox Resources Encounters Bonanza Gold Intercept at Youanmi South
THE DRILL SERGEANT: Rox Resources (ASX: RXL) and Joint Venture partner Venus Metals (ASX: VMC) reported initial drilling results from reverse circulation (RC) and diamond drilling (DD) programs currently underway at the Youanmi gold project (OYG JV) in Western Australia.
Rox Resources explained it is drilling to gain understanding of splay structures off the Youanmi Main zone, both to the west (Midway) and east (Youanmi South) with the aim of identifying new high-grade zones with strike continuity.
The company reported early stage results from Youanmi South it believes opens up an area largely untested at depth for potential resource growth.
The first of a series of holes to test a range of structural trends has returned continuous bonanza grades in RC drilling with:
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28m at 34.81 grams per tonne gold from 204m, including 18m at 51.96g/t gold from 207m, including 10m at 79.55g/t gold from 211m, including 3m at 138.07g/t gold from 218m.
Follow up drilling is set to commence to determine the orientation and dip direction of this new discovery.
“Youanmi South is just 250 metres from the Youanmi main open pit, yet historical drilling was largely restricted to the weathered zone so true geology has been unconstrained,” Rox Resources managing director Robert Ryan said in the company’s ASX announcement.
“The exceptional grade and continuous high-grade tenor of the intersection in an area previously untested by drilling is cause for cautious optimism whilst we determine orientation of the mineralised zone.
“A core focus of our current exploration program is to test the splay structures off the historically-mined zone structures along the granite margin.
“The results from Midway, and those reported here on Youanmi South emphasize that Youanmi has the potential to deliver extensive resource growth with quality ounces through near-mine discovery.
“Our confidence continues to increase that Youanmi is a large-scale, high-grade system that is still in the early stages of understanding and resource evaluation.
“Our team is doing an excellent job in processing all available data, refining our targeting and delivering on efficient execution.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE