West Australian gold exploration and development company, Rox Resources Limited (ASX: RXL) has reported a significant increase to the Mineral Resource Estimate (MRE) for the Youanmi Gold Project near Mt Magnet, WA.
Highlights:
Drilling and exploration work at the Youanmi Gold Project predominantly in the OYG JV area (Rox 70% and Manager, VMC 30%) has yielded substantial increases in known and defined tonnages and ounces since acquisition and commencement of drilling in Mid-2019.
We are very pleased to announce this increase to the Near Surface Resource Estimate at Youanmi following the inclusion of newly delineated mineralised zones along the mine corridor including the Link, Footwall Lodes and Hanging-wall Lodes,” Managing Director, Alex Passmore, said.
“The lift in the Near Surface Resource incorporates data from 16,000m of RC drilling undertaken in the second half 2021 and early 2022.
“The substantial increase in both Near Surface and Underground resources at Youanmi is testament to the strong geological understanding our exploration team has developed, allowing for precise and effective targeting of gold lodes that continues to deliver strong results.
“The scale of Youanmi is starting to become more apparent and in line with our high level of confidence in the Project. This resource will underpin the open pit component of the company’s Scoping Study which is on track for completion in the middle of the year.”