Australian gold and nickel company, Rox Resources Limited (“Rox” or “the Company”) (ASX: RXL), in conjunction with its joint venture partner Venus Metals Corporation Limited (ASX: VMC) is pleased to provide an update on exploration activities at Youanmi in the OYG JV area. Rox recently increased its interest in the OYG JV to 70% (ASX: 11 June 2020) with VMC holding the remaining 30%.
- Granite-hosted gold mineralisation confirmed along 2.5km of strike in the Grace structural corridor
- New shallow zone of mineralisation confirmed at Grace North
- Grace drilling at depth encounters widest zone of mineralisation to date
With the receipt of new drilling results the Company has refined its interpretations and exploration model for gold mineralisation that continues to be discovered within the Youanmi Granite.
The current RC drill program, which is focussing on the Grace prospect, commenced in late May 2020 and is planned to consist of 126 holes for 16,000m of drilling. To date, including this announcement, 53 holes have been reported on.
Recent drilling at Grace has intersected impressive gold grades. Including:
- RXRC292: 2m @ 12.31g/t Au from 195m and 4m @ 5.01g/t Au from 173m within an impressive broader 49m mineralised zone comprising 25m @ 2.39g/t Au (from 173m) and 24m @ 1.04g/t Au (from 145m).
- RXRC294: 7m @ 6.87g/t Au from 118m
At Grace North, one-metre samples collected from previously reported fourmetre composite samples (ASX: 06 May 2020) have returned high grade confirmatory results including:
- RXRC201: 1m @ 63.68g/t Au from 49m to end of hole
- RXRC194: 3m @ 10.27g/t Au from 19m
Managing Director Alex Passmore commented: “Grace continues to deliver impressive, high-grade results. I am particularly excited by the extent of mineralisation encountered in drill hole RXRC292 which demonstrates that not only does Grace carry very high gold grades, with 49 metres of mineralisation intersected there is potential for significant tonnages to be delineated.”
Read more Mining Review