Search
Plant Zone prospect cross section at Rox/Venus’ Youanmi project in WA.

More Youanmi gold for Rox/Venus

Rox Resources and Venus Metals’ Youanmi South prospect in Western Australia doesn’t look like being closed off anytime soon with more high-grade gold results continuing to roll off the drill bit, including 4 meters at 11.23 grams per tonne gold from 92 meters downhole. Other solid numbers at the Plant Zone prospect, including 8m grading 2.62g/t gold from 60m, continue to underline the prospectivity of the project.

At the Commonwealth prospect, approximately 3.5km north-west of Youanmi South, other notable drill hits included 8m grading 3.73g/t gold from 60m down-hole and 3m grading 5.45g/t gold from 87m downhole.

Rox’s Managing Director Alex Passmore said: “These results continue to show the excellent potential of the Youanmi belt …”

“Drilling at the Plant Zone prospect, a granite stockwork style of mineralisation now delineated over a 1.4km strike length continues to add scale to the overall project gold inventory.”

The Plant Zone deposit has an existing mineral resource of 74,000 ounces of gold, which occurs as free grains in weathered granite host rock.

Gold occurs from surface at the Plant Zone prospect and metallurgical testing has shown that the yellow metal is free-milling, which is exciting given that it may lead to gold being produced without the need for the ore to run the full gauntlet of the entire processing circuit – in other words, it can potentially just fall out via gravity.

This prospect could see the JV partners end up with a fast track to cash flow too, given that the deposit is only located a stone’s throw from the Youanmi main pit and processing plant.

Rox and Venus have now completed over 11,000m of RC drilling across Youanmi, with assay results received for about 80% of the program thus far.

With drilling ongoing, the JV partners are planning to finish this field season with a total of around 16,500m worth drilling in the ground demonstrating their belief in the project.

Rox and Venus are now gearing up for an update to the project’s mineral resource that will directly follow on from receipt of all assays.

The Youanmi project comprises a mineral resource currently of 1.19 million ounces of gold and includes a suite of site infrastructure that includes a 600,000 tonne per annum mothballed gold processing plant that requires some refurbishing.

 

Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au

Add your comment

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Top 10 Shareholders

Substantial shareholders as published in the annual report.
Source: Morningstar

Total Shareholder Return as at 31/10/19

1 year TSR5 year TSR
63rdRox Resources120%-10%
496thNex Metals Exploration-16%22%
620thAurora Minerals-38%-16%
721stMEC Resources-53%-28%
730 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

26/07/19
$60k Bought
27/06/19
$42k Bought
15/05/19
$100k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

167th↓Aurora Minerals$355k
168th↓Rox Resources$349k
170th↓Nex Metals Exploration$343k
171st↑MEC Resources$339k
485 listed resources companies ranked by revenue.
Source: Morningstar

BNiQ Disclaimer