Australian gold and nickel company Rox Resources Ltd, in conjunction with its joint venture partner Venus Metals Corporation Ltd, has provided an update on exploration activities at the Youanmi project within the OYG joint venture area in Western Australia.
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 at Grace prospect commenced in late May and is planned to consist of 126 holes for 16,000 metres of drilling. To date, 53 holes have been reported on.
Recent drilling at Grace has intersected impressive gold grades, including:
- 2 metres at 12.31 g/t from 195 metres and 4 metres at 5.01 g/t from 173 metres within a broader 49-metre mineralised zone comprising 25 metres at 2.39 g/t from 173 metres and 24 metres at 1.04 g/t from 145 metres.
- 7 metres at 6.87 g/t from 118 metres.
At Grace North, 1-metre samples collected from previously reported 4-metre composite samples have returned high grade confirmatory results, including:
- 1 metre at 63.68 g/t from 49 metres to end of hole.
- 3 metres at 10.27 g/t from 19 metres.
Rox Resources 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.”
Rox Resources recently increased its interest in the OYG joint venture to 70 per cent with Venus Metals holding the remaining 30 per cent.