Rox Resources (RXL-ASX) is exploring the Youanmi Gold Project near Mt Magnet, Western Australia. The company is advancing the flagship Youanmi historic mining centre in joint venture (OYG JV) with Venus Metals Corporation (VMC-ASX $0.20 | Not Rated). RXL also has nickel sulphide assets, which it is looking to divest.
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• Gravity and leach test work confirm excellent total gold recoveries at Grace of up to 99.8% in fresh rock and 98.7% in oxide mineralisation
• Results confirm that new zones of gold mineralisation discovered through late 2019 and 2020 within granite are likely to be amenable to conventional gravity and cyanide processing
• Complements extensive new geological understanding resulting from 2020 drilling and geophysics to positively reset perspectives on the Youanmi Belt
• Two new high priority targets, “Link” and “Junction” identified with testing ongoing.
• RC drilling returns strong results:
RXRC344: 12m @ 6.54g/t Au from 28m. New, high-grade zone identified in granite north of Rebel Pit at Link.
RXRC341: 2m @ 11.81g/t Au from 53m and 10m @ 1.4g/t Au from 164m. New high-grade zone identified in Granite 200m north of United North Pit at Link.
RXRC121: 3m @ 9.6g/t Au from 196m (Grace North).
RXRC325: 12m @ 1.72g/t Au from 28m (Grace North, shallow)
Assays pending for 12 holes.
• Assays received for 8 diamond holes at Grace with results pending for 2 holes.
High grade results include:
RXDD004: 1m @ 18.62g/t Au from 202m
• AC drilling of 339 holes for 16,297m was completed in the December quarter, with all assays now received. The results show: (1) Widespread gold anomalism associated with structures in the Youanmi Granite and (2) Prospective targets along the Youanmi mine corridor