Rox Resources Limited (ASX: RXL) is a West Australian focused gold exploration and development Company with 2 projects: Youanmi Gold Project near Mt Magnet, approximately 480 kilometres northeast of Perth and Mt Fisher – Mt Eureka Project approximately 140 kilometres southeast of Wiluna. The Company’s main focus is the development of the high-grade, high margin Youanmi Gold Project that hosts a global mineral resource of 16.2Mt at 4.4g/t for 2.3Moz of gold.
Youanmi has a Total Mineral Resource of 2.3Moz of contained gold, with potential for further expansion with the integration of existing prospects into the Resource and further drilling. The Company’s recent drilling results confirmed new discoveries in near-mine areas at Midway and Paddy’s Lode, indicating potential to deliver extensive resource growth with quality ounces.
Youanmi was a high-grade gold mine and produced 667,000oz of gold (at 5.47 g/t Au) before it closed in 1997. Youanmi is classified as a disturbed site and is on existing mining leases which has significant existing infrastructure to support a return to mining operation.
The Mt Fisher – Mt Eureka Project (“the Project”) is in the Northern Goldfields, approximately 500km northeast of Kalgoorlie (about 120km east of Wiluna) within the Mt Fisher greenstone belt which is located 40km east of the prolific Yandal greenstone belt, host of significant gold deposits including Jundee, Bronzewing and Mt McClure. The Project is also situated immediately along strike of Cannon Resources Limited’s (“Cannon”) nickel deposits (134kt of contained. nickel at 1.8% Ni) with the host ultramafic unit extending into the Project’s tenure.
Surrounded by world class gold and nickel deposits, the Project is considered highly prospective for gold and nickel mineralisation.
Cannon Resources Limited is a Western Australia focused mineral resources exploration company, established to implement the demerger undertaken by Rox Resources Limited for the purpose of maximising the value of the Fisher East Nickel Project and the Collurabbie Nickel Project.