Youanmi Gold Project

WESTERN AUSTRALIA

Highlights

100% ownership of the Youanmi Gold Project (including 90% - 100% gold rights in regional tenures).

Mineral Resource Estimate of 2.3Moz Au at 4.4g/t.

Updated MRE provides strong platform for the upcoming Pre-Feasibility Study

Potential upside from new discoveries in near-mine areas and regional areas opportunities.

Project Location

The Youanmi Gold Project is located 480km northeast of Perth and 400km inland and to the east of Geraldton. It is sited in the central part of the Youanmi Greenstone Belt, which is situated in the Southern Cross Province of the Archaean Yilgarn Craton in Western Australia, “Australia’s premier gold province.

The Project is surrounded by million-ounce mines and major gold producers. The Project has a proven track record of production with historical production of 667koz from both open pits and underground mining. Due to its history, the Project comes with comprehensive site infrastructure and decline that Rox can leverage off.

Background

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 A$450 per ounce with the last parcel of ore mined underground at 14.6 g/t Au grade.

The Youanmi Project Mineral Resource Estimate of 16.2Mt at 4.4g/t for 2.3Moz of gold can be categorised into open pit portion of 6.5Mt at 2.7g/t for 0.6Moz of gold and the underground portion of 9.7Mt at 5.5g/t for 1.7Moz of gold. (ASX: 30 January 2024).

Rox has 100% ownership of the Youanmi Gold Project and 90% to 100% of the regional exploration tenure.

Exploration and Development Strategy

The Company has implemented a three-pronged strategy to explore and develop the high-grade Youanmi Gold Project:

Youanmi Deposits

Increase resource confidence through in-fill drilling programme and de-risk the project through feasibility work.

Near-mine Exploration

Increase resource confidence through in-fill drilling programme and de-risk the project through feasibility work.

Regional Exploration

Renewed focus on regional tenures at Penny North Project and greenfield exploration.

Rox's Project Pipeline

Notes:
1. Refer to ASX Announcements on 5 September 2019, 11 September 2020, 18 September 2020 and 30 January 2024