THE DRILL SERGENT: Rox Resources (ASX: RXL), and Joint Venture partner Venus Metals Corporation (ASX: VMC), reported identification of a potential new parallel lode at the Youanmi gold mine within the JV’s Youanmi gold project near Mt Magnet in Western Australia (Rox 70% and Manager, VMC 30%).
The identification came during drilling at Youanmi that intersected high-grade mineralisation in a newly defined position in the hanging wall to the main lode structure.
Rox Resources said the high-grade intersection in the untested hanging wall area reveals potential for new lode:
4 metres at 45.5 grams per tonne gold from 341m, including 1.33m at 129.3g/t gold from 341.75m (new hanging wall zone at Junction).
Further high-grade gold intercepts were received from infill and extension drilling at Junction, including:
16m at 4.22g/t gold from 56m, including 3m at 16.4g/t gold from 66m and 3m at 4.1g/t gold from 203m (Junction); and
3m at 15.17g/t gold from 108m and 3m at 3.35g/t gold from 204m (Junction)
Drilling remains on track to deliver further increases in the Youanmi gold resource.
Rox said the identification of high-grade mineralisation at Junction and the new hanging wall zone demonstrates the potential for new discoveries at Youanmi as the company continues to build confidence in its exploration strategy.
“We are very pleased to report strongly mineralised intersections in a newly identified structure near the Youanmi mine and up-sequence from the main-lode ore body,” Rox Resources managing director Alex Passmore said in the company’s ASX announcement.
“This an exciting development as it lies within a previously untested area.
“In addition, extension and infill drilling at Junction continues to deliver high-grade results that will contribute to resource growth at Youanmi and is likely to add ounces in crucial areas that will improve project economics.”
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