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Rox Resources to drill test potential extensions and underexplored gold lodes near high-grade Currans Find discovery at Youanmi

Drilling will continue into October and will be followed by resource estimation work.

Rox Resources Limited - Rox Resources Limited to drill test potential extensions and underexplored gold lodes near high-grade Currans Find discovery at Youanmi
Recent results indicate potentially substantial gold mineralisation in the newly identified zone at Youanmi South

Rox Resources Limited (ASX:RXL) has resumed reverse circulation (RC) drilling near the Currans Find high-grade discovery within its Youanmi Gold Project, targeting the ‘Red White and Blue’ prospect.

The prospect is about 1 kilometre south-southwest of the high-grade Currans North gold discovery and will be drill tested for down-plunge and along-strike extensions of the shallow gold mineralisation intersected in previous drilling.

Resource estimation work planned

The drilling program will also target under-explored gold lodes that warrant testing for potential high-grade gold mineralisation at depth, about 50 metres north and south of the main lode.

The reverse circulation (RC) campaign will continue until October 2019 after which additional resource estimation work will begin.

The company believes its understanding of controls on Youanmi mineralisation has improved markedly with its latest results and hopes to translate this into a “strong resource”.

Youanmi currently hosts a 1.19-million-ounce JORC-compliant resource at 2.97 g/t gold.

Prospective new areas

Recent drilling by Rox delivered the highest grades seen so far at the project, assaying 12 metres at 12.7 g/t gold from 80 metres and 12 metres at 8.5 g/t from 44 metres in separate holes at the unmined Youanmi South area.

Standout intersections from this area, which has similarities to the main lode style, also included 4 metres at 11.2 g.t from 110 metres and 4 metres at 7.6 g/t from 76 metres.

The project is housed in four separate joint ventures held by the companies together in partnership.

These joint ventures are the Youanmi Gold Mine Project OYG V, the Venus JV, Youanmi JV and Currans Find & Pincher JV.

Rox has a 50% stake in the main Youanmi mine venture OYG JV which it can take to 70% by spending $2 million on exploration and shelling out a further $3 million of investment funds.

Quick facts: Rox Resources Limited

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ASX:RXL
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Market Cap: $110.47 m
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Rox Resources continues drilling at Youanmi Gold Project

Rox Resources (ASX:RXL) chief executive officer Alex Passmore updates Proactive Investors on progress at the Youanmi Gold Project in WA. Passmore says the company, which has been drilling at the project for the last couple of weeks, is set to continue drilling until September. “The Youanmi...

on 13/8/19

2 min read