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Rox Resources confirms 1.19 million ounce gold resource at Youanmi

Proactive Investors Wednesday, 17 April 2019
Rox Resources Ltd (ASX:RXL) has confirmed a 1.19 million ounce JORC-compliant resource grading 2.97 g/t gold at the Youanmi Gold Project in Western Australia. Rox is making a play for the historical Youanmi Gold Project after it recently entered a binding term sheet with Venus that results in three joint ventures being formed around the historical Youanmi gold mine. The project comes with a historical database of 550,000 metres of historical drilling that has been analysed to confirm the JORC resource. READ: Rox Resources enters deal to acquire two mining leases at Youanmi The JORC resource comprises an estimate for the near-surface deposits at the historical mine which measured 532,700 ounces grading 1.65 g/t (50% Indicated, 50% Inferred). The near surface deposits consist of the Youanmi Main Pit, the Youanmi 4 Pits Area, Commonwealth, the Plant Zone Deposits and the Palaeo-channel Deposits The balance of the resource is known as Youanmi Deeps and measures 657,900 ounces grading 8.5 g/t gold (32% Indicated, 68% Inferred). Youanmi Deeps forms the deeper extensions of gold mineralisation in the Youanmi Main Zones (Pollard, Main and Hill End). These three zones are contiguous and are situated within the main Youanmi Gold Project area. Map showing deposit locations Drilling database reveals several drill targets The extensive drilling database has resulted in several prospects presenting as priority drill targets with potential to identify additional near-surface oxide resources. These targets can be classified as: 1) Undeveloped open-pit resources; 2) Open pit extensions and/or cut-backs; and 3) Other near surface resources. There are significant undeveloped open-pit resources at the Commonwealth and Connemara Deposits, the Plant Zone and Paleochannel Zone. Historical intersections from these targets include 59 metres at 3.7 g/t gold from 1-metre depth and 29 metres at 12.9 g/t gold from 51 metres.
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