Youanmi Gold Project

YOUANMI DEPOSITS

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Background

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).

The Youanmi Gold Mine has seen high grade gold production in the past with circa 667koz previously mined at the project in total. From available historical data (1987 onwards), open pit mining showed an average mined grade of 3.4g/t Au, while underground mining showed an average of 11g/t Au.

The Youanmi deposits comprise of 11 granted Mining Leases that are 100% owned by Rox.

The top ~400m of the resource contains over 4,000oz per vertical metre
Youanmi Gold Project, Rox Resources Western Australia

Geology

The Youanmi Gold Deposit is located 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. The greenstone belt is about 80km long and 25km wide and incorporates the Youanmi Shear Zone, a NE-trending major crustal-scale structure and most likely source of hydrothermal fluids through the region.

The geology of the Mine Area consists of a north to north-northwest trending greenstone succession comprising strongly magnetic tholeiitic basalt, sheared basalt, banded iron formation and mafic schist. The greenstone succession is bounded to the east by an adamellite batholith, called the Youanmi Granite. Gold mineralisation is hosted in both the Mine Lode Shear Zone, a 1m to 25m-wide shear zone that has been traced along strike for over 2,300m and down-dip for 1,100m, and a series of footwall and hanging-wall shear zones. Gold mineralisation at Youanmi primarily takes the form of sulphide replacement styles where extensive replacement of magnetite in the host sequence has occurred. Sulphide replaced shear zones are structurally controlled and favour a position at or around the greenstone-granite contact. The greenstone-granite contact has variable dips of between -50° to -70°W and strikes at 330°

Gold is intimately associated with sulphide minerals and silicates in zones of strong hydrothermal alteration and structural deformation. Typical Youanmi lode material consists of a sericite-carbonate-quartz-pyrite-arsenopyrite schist or mylonite which frequently contains significant concentrations of gold, commonly as fine, free gold particles in the silicates, occluded in sulphide minerals and in solid solution in arsenopyrite. The lodes contain between 10% and 25% sulphide, the principal species being pyrite (10% to 20%) and arsenopyrite (1% to 5%). Granite hosted gold mineralisation occurs at several sites, most notably Grace and the Plant Zone Prospects. Gold mineralisation is hosted in strong sericite altered granite, shear veins and quartz breccia-style veins.

Infrastructure

The project comes complete with comprehensive site infrastructure 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.

Historical High-Grade Production

Over 660koz of historical production at high-grade, mine closed due to low gold price of ~A$450/oz
1908 - 1921
Historical Shaft Mining Production 166koz @ 15.2g/t
1937 – 1942
Historical Shaft Mining Production 95koz @ 8.1g/t and 15koz @ 10.2g/t
1987 – 1993
Open Pit Mining Production 263koz @ 3.1g/t
1994 – 1997
Mechanized UG Mining Production 128koz @ 9.7g/t
1997 - 2019
Operation closed in 1997 due to prevailing gold price of ~A$450/oz
2019 - Current
In 2019, Rox entered a joint venture with Venus Metals Corporation Limited (VMC) to acquire Youanmi Gold Project.

In March 2023, Rox and VMC consolidated their respective ownership interests in Youanmi under Rox’s 100% ownership.

Youanmi Gold Mineral Resource

CategoryCut-off Grade
(g/t)
IndicatedInferredTotal
TonnesAu GradeAu MetalTonnesAu GradeAu MetalTonnesAu GradeAu Metal
(Mt)(g/t)(Koz)(Mt)(g/t)(Koz)(Mt)(g/t)(Koz)
Open Pit0.55.12.84581.42.41086.52.7565
Underground2.55.66.11,1034.14.86339.75.51,735
Total10.74.51,5615.54.274016.24.42,300
Notes:
See ASX Announcement on 30 January 2024 for more information.