Venus Metals’ (ASX: VMC) investee Rox Resources (ASX: RXL) have reported new and significant results from ongoing exploration at the Youanmi gold project near Mt Magnet in Western Australia.
Resource development and near-mine drilling across 24,000 metres has focused on the Link and Kathleen prospects and is designed to convert inferred resources to the higher confidence indicated classification.
At Link, extensional drilling delivered strong gold intercepts, confirming the current interpretation and showing the mineralisation remains open down-plunge to the northwest and up-plunge to the southeast.
Best results
Best results from Link were 22m at 6.31 grams per tonne gold from 355m, including a standout 11.2m at 10.37g/t gold from 355m; 5.09m at 7.15g/t gold from 292.91m; 4.26m at 9.67g/t gold from 294.74m; and 14m at 5.24g/t gold from 250m.
Other highlights were 0.74m at 11.59g/t gold from 353.26m; 5.09m at 7.15g/t gold from 292.91m; 5m at 2.96g/t gold from 335.94m; 2.62m at 7.78g/t gold from 285.16m; 4.26m at 9.67g/t gold from 294.74m; and 14m at 5.24g/t gold from 250m, including 3m at 10.85g/t gold from 250m and 3m at 10.69g/t gold from 260m.
Rox managing director Robert Ryan said the assays indicated the presence of “extremely robust” mineralised lodes which include zones of thicker mineralisation along with zones of higher gold grades.
Confidence and potential
He said drilling was continuing to build confidence in the resource while demonstrating upside potential.
“The assays from Link continue to impress, with some of the deepest drilling completed at the project to date intersecting thick, high-grade mineralisation which bodes well for future underground mining operations,” he said.
“We have also commenced an expanded diamond drill program at the new Youanmi South discovery to follow up on an earlier bonanza intercept of 28m at 34.81g/t we expect the first batch of assays next month.”
Mr Ryan said the partners were aiming to delineate a “potentially significant new mineralised structure” at Youanmi South from approximately 5,000m of near-mine drilling.
