Youanmi Gold Project

GOLD PROJECT   •  WESTERN AUSTRALIA

Highlights

Confirmed Mineral Resource Estimate of 1.7Moz Au at 2.85 g/t

Exploration is ongoing with resource growth likely to continue

Studies advancing into the restart of Youanmi

Existing decline in place – to about 600 metres below ground

Background

Rox Resources Limited (Rox) holds a 70% interest in the OYG Joint Venture and is the manager at the historic Youanmi mining centre.  Venus Metals Corporation Limited (ASX:VMC) (“Venus” or “VMC”) retains a 30% interest.

The Youanmi Gold Project is located 480km NE of Perth and 400km inland and to the east of Geraldton.  The Youanmi Gold Mine located near the centre of the project tenement package has historic production of 667,000 ounces of gold grading 5.42g/t from open pit (1987 – 1993) and underground operations.  The operation was closed in 1997 when the gold price was approximately $400 per ounce with the last parcel of ore mined underground at 14.6 g/t Au grade.

Rox and its JV partner, Venus, are parties to three joint ventures covering regional exploration at Youanmi.

  1. The high-grade historic Currans Find JV located in the centre of the Youanmi Gold Project where each hold a 45% interest in all minerals (ASX: 10 April 2019);
  2. The VMC JV where Rox has earned a 50% interest in the gold rights; and
  3. The Youanmi JV where Rox has earned a 45% interest in the gold rights.

Rox is the manager of all regional joint ventures.

The Youanmi Project Mineral Resource Estimate of 18.1Mt at 2.85 g/t Au for 1.7Moz of gold  can be categorised into a near surface portion of 14.7Mt at 1.69 g/t Au for 0.8M ounces of gold and the Youanmi deeps of 3.4Mt at 7.9 g/t Au for 0.9M ounces of gold.  (ASX: 23 June 2021)

Youanmi Gold Project, Rox Resources Western Australia

Geology

The project is situated in the Youanmi Greenstone Belt, within the Southern Cross Province of the Archaean Yilgarn Craton in Western Australia.  The structure of the Youanmi Project is dominated by the north-trending Youanmi Fault Zone, which traverses the eastern margin of all Project tenements and locally separates the greenstone stratigraphy to the west from the basement granitoids and gneisses to the east.

Most of the gold mineralisation seen at the project is hosted within north-northwest splays off the north-northeast trending Youanmi Fault. The splays diverge from the Youanmi Fault to the south of the informally named Youanmi Granite and trend sub-parallel with the granite-greenstone contact.

Locally near the Youanmi Mine, gold mineralisation occurs within lode structures contained by shears in close proximity to the greenstone-granite contact.  Gold is distributed within these lodes in a series of steeply plunging shoots.  Away from the contact gold mineralisation also occurs within structures in granite, basalt-BIF sequences and felsic volcanic rocks.

Infrastructure

The project comes complete with comprehensive site infrastructure including a CIP process plant (requiring significant refurbishment) which was designed to treat 600,000tpa of oxide ore, a tailings disposal facility, mine offices, combined core shed and workshop, mine village, access roads and airstrip.

Facilities at the village will ultimately require varying degrees of refurbishment to accommodate a full-time work force.  However, for the purposes of exploration crews, the village is well equipped.

Youanmi Gold Project Infrastructure
Mr Gregor Bennett, EXPLORATION MANAGER. Rox Resources

Exploration Manager

Mr Gregor Bennett

appointed January 2020

Mr Bennett is an experienced geologist with over 10 years of experience in Archaean gold and nickel exploration.  He has extensive experience in roles spanning all aspects of resource projects including exploration and targeting, discovery and resource development.  Mr Bennett joined the Rox exploration team in 2013 and is now responsible for all exploration activities.

He holds a Bachelor of Science in Geophysics and Geology and is a Member of the Australian Institute of Geoscientists.

Matt Antill, General Manager Operation Rox Resources

GENERAL MANAGER – OPERATIONS

Mr Matt Antill

appointed April 2021

Mr. Antill graduated from the University of Queensland in 1990 with Bachelor of Engineering in Mining, holds a WA First Class Mine Manager’s Certificate of Competency and is a fellow of the AusIMM.  He has 30 years of hard rock mining experience over half of which at Mine Manager level in both open pit and underground operations, with juniors and multi-nationals and over a wide range of commodities and mining methods.  He has undertaken leadership roles in several successful operational mining start-ups in Australia and overseas including Sino Iron Project WA, Thunderbox Mine WA, Rapu-Rapu Mine Philippines.  Mr Antill also has experience in the role of Project Manager for underground mining contractor Pybar Mining Services.  More recently Mr Antill oversaw Canadian miner Monument Mining’s Malaysian operations and progressed planning work for their Australian Murchison operations potential, and just prior to joining Rox oversaw narrow vein gold open pit and underground mining activities at Silver Lake Resources Mount Monger Operations.  Mr Antill brings a wealth of knowledge and experience to Rox and in the role will progress scoping and feasibility studies through to completion, as well as implement and oversee commencement of operations in due course.

Chris Hunt , CHIEF FINANCIAL OFFICER Rox Resources

CHIEF FINANCIAL OFFICER

Mr Chris Hunt

appointed May 2021

Mr Hunt is an experienced finance executive with over 25 years’ experience predominately in the resources and construction industries.  He has held senior finance roles for close to 15 years and has strong experience in feasibility studies, corporate financing, and mining operations.  Mr Hunt’s most recent resources experiences were as the Chief Financial Officer for BC Iron Limited, Crossland Resources Limited, FerrAus Limited and Cliffs Natural Resources.

He holds a Bachelor of Business, is a Fellow CPA, a graduate from the Australian Institute of Company Directors and has completed a Graduate Diploma of Applied Finance from the Securities Institute of Australia.

John Mair, NON-EXECUTIVE DIRECTOR Rox Resources

Non-Executive Director

Mr John Mair

appointed October 2019

Dr Mair is an economic geologist with extensive international experience across technical, managerial and corporate fields.  He holds a PhD in economic geology (UWA) and held the position of post-doctoral research fellow at the Mineral Deposit Research Unit, UBC, Canada.  Dr Mair is the Managing Director of Greenland Minerals Limited.

He has authored numerous papers in leading scientific journals on the geology of gold deposits and he is a member of the Australasian Institute of Mining and Metallurgy.

Alex Passmore, Managing Director Rox Resources

MANAGING DIRECTOR

Mr Alex Passmore

appointed April 2019

Mr Passmore is a qualified geologist with extensive corporate experience.  He holds a Bachelor of Science degree with First Class Honours in Geology from the University of Western Australia and a Graduate Diploma of Applied Finance from the Securities Institute of Australia.  Mr Passmore is an experienced corporate executive and company director with recent appointments including Managing Director of Cookatoo Iron NL, Non-Executive Director of Aspire Mining Ltd, Non-Executive (and Executive) Director of Equator Resources Ltd/Cobalt One Ltd (which merged with TSX-listed First Cobalt Corp), and CEO of Draig Resources (now Bellevue Gold Ltd).

Stephen Dennis

Non-Executive Chairman

Mr Stephen Dennis

appointed August 2015

Mr Dennis has been actively involved in the mining industry for over 30 years.  He has held senior management positions at MIM Holdings Limited, Minara Resources Limited and Brambles Australia Limited.  Until July 2015, Mr Dennis was the CEO and Managing Director of CBH Resources Limited, the Australian subsidiary of Toho Zinc Co.,Ltd of Japan.

Holding a LLB and a B.Com., Mr Dennis is also currently the Chairman of Heron Resources Limited, Graphex Mining Limited, Cott Oil & Gas Limited and Lead FX.