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Rox Resources Scores High-Grade Gold Results at Link

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) reported assay results from resource development drilling at the company’s 100 per cent-owned Youanmi gold project near Mt Magnet in Western Australia.

Rox Resources’ recent activities focused on the Link area of the project, which it describes as being “a fast-developing strike extension to the historically mined lodes at Youanmi, and benefits from its proximity to established underground infrastructure”.

Recent assay batch received from Youanmi resource development drilling at Link include:

RXDD088
24.43 metres at 12.79 grams per tonne gold from 369m, including 6.03m at 25.01g/t gold from 372.97m and 1.87m at 28.65g/t gold from 383.13m, and 2.68m at 36.51g/t gold from 390.75m;

RXDD092
7.73m at 3.12g/t gold from 366.9m, including 4.1m at 4.65g/t gold from 366.9m;

RXDD093
3.89m at 5.75g/t gold from 408m, including 1.93m at 9.21g/t gold from 409.96m, and 1.02m at 29.88g/t gold from 425.45m; and

RXDD096
3.84m at 9.13g/t gold from 412.51m, including 2.15m at 13.5g/t gold from 412.51m.

Rox said the results support its agenda of moving resources at Link to a higher confidence category to support feasibility studies and to also demonstrate significant resource upside.

“The final batch of assay results from Link have proven to be some of the best yet, with a spectacular intercept of 24.43 metres at 12.79 grams per tonne reinforcing the high-grade nature of the Youanmi gold project,” Rox Resources managing director Robert Ryan said in the company’s ASX announcement.

“The latest campaign has defined Link down to approx. 475 metres below surface, with the mineralisation remaining open and no deeper drilling completely beyond this depth.

“Given that the Youanmi Main Lode, which sits just next door, has been intersected at depth of up to 970 metres below surface, we believe there is immense potential for the mineralisation at Link to continue at depth.

“Following our recent consolidation of tenure ownership over the broader high-grade Youanmi belt, drilling is also underway on regional targets that extend from north of Youanmi to south of the Penny West mine.

“Drilling is currently underway at Curran’s Find and our near-mine targets at Youanmi South, with assay results expected in the coming weeks.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Rox Resources Encounters Bonanza Gold Intercept at Youanmi South

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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:

RXRC458
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

 

Rox Resources Continues High-Grade Youanmi Gold Hits

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) provided an update on continuing drilling underway at the company’s Youanmi gold project near Mt Magnet in Western Australia, a joint venture with Venus Metals Corporation Limited (ASX: VMC).

Rox Resources reported assay results for four RC holes and two diamond holes from the current drilling program at Youanmi, drilled during May after a global Resource upgrade at Youanmi to 1.7 million ounces at 2.85 grams per tonne gold in June.

Results are pending for 14 RC and 14 diamond holes with drilling ongoing.

Highlights from latest results include:

RXRC402
17 metres at 5.14 grams per tonne gold from 151m, including 11m at 7g/t gold from 156m (Link)

RXRC396
9m at 4.57g/t gold from 148m (Junction)

RXRC397
2m at 10.02g/t gold from 268m (Youanmi South)

In conjunction with the high-grade intersection in RXRC402, assays were also received from two diamond extensional holes drilled at the Link deposit.

The results sit outside the current resource and demonstrate continuity of high-grade mineralisation at depth, including:

RXDD011
6.53m at 2.42g/t gold from 288m, including 1.71m at 6g/t gold from 289.2m and 3m at 3.47g/t gold from 309m.

RXDD012
2.03m at 7.18g/t gold from 450.15m.

Parallel hanging wall lodes above this returned 3.8m at 2.4g/t gold from 432.2m and 1.28m at 2.71g/t gold from 406.72m.

“We are very pleased to announce ongoing successful drilling results,” Rox Resources managing director Alex Passmore said in the company’s ASX announcement.

“These high-grade results at Link will contribute to resource growth at Youanmi.

“They transform an area at relevant mining depths that were previously modelled as low grade into a priority zone for adding ounces.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@roxresources.com.au

 

Web: www.roxresources.com.au

 

Rox Resources to Demerge Nickel Assets to Concentrate on Youanmi Gold

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THE BOURSE WHISPERER: Rox Resources (ASX: RXL) informed the market of its intent to spin-out its Fisher East and Collurabbie nickel and base metal assets in Western Australia.

Rox Resources explained the demerger would enable it to focus on the development of the company’s Youanmi gold project near Mt Magnet in WA.

The nickel and base metal assets will be demerged into a new company, Cannon Resources Limited.

There is to be a fair bit of corporate activity involved with Rox proposing a 1 for 15 share consolidation prior to the Cannon transaction to simplify its share structure.

Eligible Rox shareholders will receive new Cannon Resources shares via an in-specie distribution, subject to Rox shareholder approval, at a rate of one ordinary share in Cannon Resources Limited for every 4.3 shares (approximately) held in Rox on a post-consolidation basis.

“The demerger of Rox’s nickel and base metal assets will allow a crystal-clear focus for Rox to develop Youanmi into a high-grade producing mine, while allowing Rox investors to retain exposure to the nickel and base metal assets through a pro-rata holding in Cannon,” Rox Resources managing director Alex Passmore aid in the company’s ASX announcement.

Rox holds substantial nickel assets via its Fisher East and Collurabbie projects it considers highly prospective for base metals.

However, with the company’s focus shifting to the advanced exploration and development of Youanmi, Rox has been seeking to unlock the value inherent within its nickel and base metal assets and it believes the demerger is its best course of action.

Rox’s main project is now the Youanmi gold mine that it co-owns Youanmi with Venus Metals.

The company deems Youanmi to present upside in both development and exploration potential as it currently boasts a JORC 2012-compliant Mineral Resource Estimate of 12.4 million tonnes at 2.97 grams per tonne gold for 1,190,600 ounces of gold, including a near surface portion of 10 million tonnes at 1.65g/t gold for 532,000 ounces of gold.

 

 

Email: admin@roxresources.com.au

 

Web: www.roxresources.com.au

 

 

Rox Resources Achieves High Gold Recoveries at Youanmi

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) completed preliminary metallurgical test work at the company’s Youanmi gold project Joint Venture with Venus Metals (ASX: VMC).

Rox Resources reported the testwork delivered high gold recoveries from the Youanmi gold project.

Because the Youanmi project is host to several styles of mineralisation and to ensure adequate representation from the different mineralisation styles, the JV collected 81 samples for metallurgical test work from 32 RC holes previously reported by Rox across the project area.

Intervals to be tested were selected to cover a range of gold grades, mineralisation styles and degree of weathering/oxidation and were then analysed by the LeachWELL Accelerated Cyanide Leach technique to determine the cyanide extractable gold via this industry-standard method and provide an indication of the potential recoveries in standard gold processing circuits (i.e. CIL).

The JV determined the results from the oxide, transitional and fresh zones at Grace to be encouraging with gold recoveries averaging 97 per cent, 94 per cent and 95 per cent respectively.

Rox considers these results indicate that gold mineralisation encountered in recent drilling at the Youanmi project in general, and especially at Grace, is amenable to conventional cyanide extraction methods.

“We are very pleased with these results, which are in line with our expectations,” Rox Resources managing director Alex Passmore said in the company’s announcement to the Australian Securities Exchange.

“The main lode ore body at Youanmi that was mined historically was renowned as being refractory at depth.

“This first-pass metallurgical test work demonstrates that different primary mineralisation styles within the Youanmi project area such as the granite-hosted gold at Grace are clearly non-refractory, delivering excellent recoveries with conventional methods.”

 

Email: admin@roxresources.com.au

 

Web: www.roxresources.com.au

 

 

Rox Resources Encounters New High-Grade Gold at Youanmi

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) announced encouraging drilling results from the Youanmi gold project in Western Australia.

Rox Resources and Joint Venture partner Venus Metals Corporation (ASX: VMC) announced the results following completion of over 7,000 metres of drilling, from which it has received results for around half of this amount.

Rox indicated that although the current turnaround around time from drill hole to validated assay result is running at up to 3 weeks, the RC drill program is ongoing and will continue through September and has been extended into October.

This is the first major and systematic exploration program carried out at the site since 1997 with Rox is testing both: (1) new conceptual targets that have the potential to open up new areas of mineralisation and (2) drilling out positions of the Youanmi gold deposits or areas where the JV considers there is potential for repeats.

“We are very pleased with these initial results from Rox’s maiden drilling program at Youanmi gold project,” Rox Resources managing director Alex Passmore said in the company’s announcement to the Australian Securities Exchange.

“The high-grade results from the Youanmi South prospect were a very positive surprise.

“This prospect is interpreted to be a new zone of mineralisation at the southern end of the Younami granite which opens up a large new area for exploration.

“Drilling at Commonwealth Prospect (a previously untested historical gold occurrence) has started to delineate a high-grade plunging shoot which is open to along strike and down plunge to the south.”

Drilling at the Youanmi gold project intersected new gold mineralisation at Youanmi South and Commonwealth prospects including:

RXRC050
2 metres at 23.67 grams per tonne gold from 76m; (Commonwealth)

RXRC049
4m at 6.57g/t gold from 64m; and (Commonwealth)

RXRC024
4m at 8.17g/t gold from 96m. (Youanmi South)

Extensions to near mine mineralisation have been delineated within dilational zones along Youanmi Main lode Shear Zone.

Best intersections include:

RXRC013
5m at 5.59g/t gold from 81m, including an intersection of 1m @ 23 g/t Au; and (United North)

RXRC014
9m at 3.77g/t gold from 58m, including an intersection of 5m at 5.93g/t gold. (United North)

 

Email: admin@roxresources.com.au

 

Web: www.roxresources.com.au

 

Rox Resources Declares Exceptional Gold Results at Mt Fisher

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THE DRILL SERGEANT: Rox Resources (ASX: RXL) announced assay results from a recently completed aircore drilling program conducted at the company’s Mt Fisher gold project, north of Leonora in Western Australia.

Rox Resources said the Mt Fisher drilling campaign comprised approximately 117 holes, with the focus being the Dam, Damsel, Dirks and Shiva prospects.

The company has already identified mineral resources of more than 86,000 ounces of gold at Mt Fisher and considers the latest results to have provided excellent potential for further exploration to add to resources.

The gold target areas lie to the west of the company’s nickel deposits at Fisher East.

Better results include:

MFAC109
4m at 6.1 grams per tonne gold from 48m depth at Dam North;

MFAC121
4m at 1.1g/t gold from 44m depth at Dam;

MFAC146
4m at 2.75g/t gold from 32m depth at Damsel;

MFAC153
8m at 2.4g/t gold from 20m depth at Damsel;

MFAC161
4m at 3.5g/t gold from 40m depth at Dirks; and

MFAC192
4m at 1.3g/t gold from 36m depth at Shiva.

“These are outstanding drilling results,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“They have identified new anomalies at Dam North, extended known gold trends at Damsel and Dirks, and confirmed infill at Shiva.

“The results highlight the excellent gold endowment of the Mt Fisher project, and the possibility of identifying high-grade gold zones.

“We will now plan our follow-up RC and/or diamond drilling campaign.”

Rox believes the Dam-Damsel-Shiva area has similarities to the 3.6 million-ounce Bronzewing deposits some 75km to the southwest.

The company indicated it is using the extensive knowledge base that was built up in the 1990s and 2000s regarding Bronzewing and the Yandal Belt in its exploration program design.

 

 

Email: admin@roxresources.com.au

Website: www.roxresources.com.au