Nov 4, 2024

Rox Resources Hits 8.11m @ 44.62g/t Au at Youanmi Gold Project, Western Australia

Introduction:

Rox Resources Limited (ASX: RXL) has reported high-grade gold intercepts from its 11,000m Diamond Drilling (DD) and Reverse Circulation (RC) drilling program at the Youanmi Gold Project in Western Australia, highlighted by 8.11m at 44.62g/t Au from 290.96m.

Drill Results:

8.11m @ 44.62g/t Au from 290.96m (Pollard drilling) (RXDD109)
11m @ 15.43g/t Au from 89m (Pollard drilling) (RXRD123)
11m @ 3.73g/t Au from 72m (includes composited interval) (RXRD112)
4m @ 6.16g/t Au from 86m (RXRD115)
3.22m @ 4.95g/t Au from 292.03m (RXDD124)
3.19m @ 4.84g/t Au from 238.53m (RXDD109)‍
2m @ 4.35g/t Au from 82m (RXRD117)

Project Overview:

The Youanmi Gold Project is located in the Murchison region of Western Australia. It is considered one of the highest-grade new gold development projects of scale in the state. Rox Resources holds a dominant tenure position over the Youanmi greenstone belt, which is renowned for high-grade gold mineralization but remains underexplored.

The current Mineral Resource for Youanmi stands at 16.2Mt at 4.4g/t Au for 2.3Moz. The project has a Production Target of 103,000 ounces per annum, as outlined in the recently completed Pre-Feasibility Study.

Program Details:

The current 11,000m drilling program is focused on converting selected Inferred stopes at Pollard, United North, and Youanmi Main to higher confidence Indicated classification. The program also aims to provide material for metallurgical testing for an upcoming Definitive Feasibility Study (DFS). The drilling has expanded the strike extension of gold mineralization and demonstrated potential for resource growth both north and south of the main Youanmi Mine area.

Understanding These Results:

The high-grade intercepts, particularly at Pollard, emphasize the presence of internal high-grade shoots within the greater mineralized envelope. These steeply plunging high-grade channel shoots are similar to those observed in adjacent mineralization envelopes at Youanmi Main and United North.

The discovery of a new mineralized zone outside the current Mineral Resource Estimate, labeled the Interceptor Prospect, highlights the potential for additional high-quality ounces to be added to the resource. This zone is located between the Pollard hangingwall lode and the Midway prospect, approximately 70-120m below surface.

Management Commentary:

Rox Resources' Chief Executive Officer, Phillip Wilding, stated:

“The Rox exploration team has delivered more strong results. This latest batch of assays will be important to converting Inferred areas of the Resource to the higher confidence Indicated classification. More excitingly, seeing these high-grade results in Pollard, along with the previously announced results in United North, really emphasises the potential for these high-grade shoots to extend, and will help with planning our next program to extend these resources that are still open. Pollard has been a very under explored area and has the potential to add significant ounces to the mine plan.”

“The discovery of a new mineralised zone outside the Youanmi MRE is yet another example of the strong potential to add further high-quality ounces to the Resource.

“Rox’s 11,000m diamond and reverse circulation drilling program has been completed, with all assays expected before the end of the calendar year. We look forward to updating the market once results are received.”

Next Steps & Catalysts:

The Youanmi Growth drill campaign has been completed with remaining assays expected before year-end. Core processing, sampling, and assays remain outstanding for diamond drill hole tails at Youanmi Main, United North, and 2 holes at Pollards.

Rox is advancing the Youanmi Definitive Feasibility Study, with more sample material now available for metallurgical test work. The company plans to update the Mineral Resource Estimate and continue exploration to grow the resource beyond the current Production Target.

Commodity Outlook:

Gold continues to be a sought-after commodity, with Western Australia remaining a premier mining jurisdiction. The Youanmi project's high-grade nature and potential for resource growth position it favorably in the current market context.

Conclusion:

The latest results from Youanmi demonstrate the project's potential for significant resource growth and high-grade mineralization. With the discovery of the new Interceptor Prospect and continued success in extending known mineralization, Rox Resources is well-positioned to advance the Youanmi Gold Project.

Sources:

RXL Drill Results Announcement

Additional Figures:

Australia

ASX

Gold

Nov 19, 2024