Search

Ounce to the tonne dirt for Rox/Venus at Youanmi

The Grace prospect is holding up as potentially a stand-alone discovery for JV partners, Rox Resources and Venus Metals, with assay results hot off the press of 8m going 37.25g/t, including a 4m zone grading 73.81g/t gold from 48m. Rox and Venus recently identified Grace at their Youanmi South project in the Goldfields, a prospect that literally sits right between the historically mined Youanmi pit and the mothballed mill.

The company says the rocks that host the Grace prospect gold mineralisation are similar to those found in the old Younami pit and importantly, Grace is still open along strike and also at depth.

Rox Resources Managing Director Alex Passmore said: “We are very pleased to report these follow on high-grade results from the Grace Prospect. RC Drilling is set to recommence by the end of this week with a diamond drilling crew heading to site shortly thereafter.”

“The results demonstrate the high prospectivity of the Youanmi Project area beyond previously identified ore zones.”

The Rox managed JV completed an RC drilling program across the newly defined prospect to follow up on recent jackpot numbers including 5m at an eye-watering 4 ounces to the tonne gold from surface, 1m at a ripping 591.89g/t gold from just 3m and 0.5m at a ridiculous 1058.49g/t, all in the same bonanza hole.

Other notable results from this week’s announcement include 4m grading 18.06g/t and 4m grading 11.02g/t gold at the Grace prospect.

The new drilling program has also identified new gold mineralised horizons that are above and below the main Grace zone – results from this zone include 4m grading 9.96 g/t and 4m grading 11.02 g/t gold.

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 of which there are still a few outstanding.

 

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
Powered by Morningstar ®

Top 10 Shareholders

Substantial shareholders as published in the annual report.
Powered by Morningstar ®

Total Shareholder Return as at 31/01/20

1 year TSR5 year TSR
27thRox Resources238%1%
61stCazaly Resources133%10%
226thPiedmont Lithium26%40%
372ndNex Metals Explorations0%20%
645thLucapa Diamond Company-39%-16%
677 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Powered by Morningstar ®

Share Transactions

12/12/19
$0 Issued
12/12/19
$0 Issued
12/12/19
$0 Issued
Total value as at the date of the transaction
Powered by Morningstar ®

Revenue

168th↓Rox Resources$349k
169th↑Lucapa Diamond Company$344k
170th↓Nex Metals Explorations$343k
172nd↓Cazaly Resources$335k
173rd↑Piedmont Lithium$334k
484 listed resources companies ranked by revenue.
Powered by Morningstar ®