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Rox Resources Ltd.
Summary
| Project: | Youanmi | |
|---|---|---|
| Deposit: | Youanmi | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/19/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-11-2019: Rox Resources Ltd. announces an Exploration/Drilling Update report for its Youanmi deposit at the Youanmi project. JV with Venus Metals - drill results incl. 5m @ 125.68g/t Au from 0m. Australian gold and nickel company, Rox Resources Limited | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Gregor Bennet (Internal) | |
| ABSTRACT: | Australian gold and nickel company, Rox Resources Limited (“Rox” or “the Company”) (ASX: RXL), in conjunction with its joint venture partner Venus Metals Corporation (ASX: VMC) is pleased to announce exceptionally high grade results from its ongoing drilling campaign at the OYG JV which forms part of the wider Youanmi Gold Project. The JV (Rox managed) recently conducted a series of shallow of RC holes to the south of the Youanmi plant to test a laterite gold target. The laterite zone appears to have an average grade of ~1.5g/t Au and thickness of ~2m and is continuous from historical drilling at the airstrip over an area of about 280m x 100m (See Table 1). Significantly, drill hole MLRC020, located on the northern-most line of the drill plan, returned extremely high gold grades (as per above) with plentiful visible gold present in RC chips (Figure 1). The area to the north is yet to be tested by drilling. Although weathered, RC drill chips from the high-grade interval suggest the host rock is strongly altered granite with abundant vein quartz. On this basis, Rox’s current interpretation is that the gold is from a primary source, rather than from supergene upgrading effects. Visible gold presents as nuggets up to 2-3mm in size which are intergrown with translucent quartz that the Company is interpreting to be vein quartz. | |
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