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Rox Resources starts aircore drilling in highly gold prospective area at Youanmi JV project

Proactive Investors Monday, 12 August 2019
Rox Resources Ltd (ASX:RXL) has begun an aircore drilling program at its jointly held Youanmi Gold Project in Western Australia. The drilling will target an area a short distance north of the historical Penny West Gold Mine, the historical Magenta and Columbia gold prospects and the recent Penny North gold discovery. READ: Rox Resources has drill spinning in 14,000-metre program at Youanmi Gold Project Aeromagnetic data shows a prominent magnetic low in the area which covers the historical deposits as well as recent discoveries.                                                                                                                                                                                                                                                                                                                                                                                                            The magnetic feature extends north into the Venus Metals joint venture tenement which presents a prospective setting for high-grade gold mineralisation of the Penny West and Penny North type. READ: Rox Resources embarks on new era in gold The targeted prospect has had limited historical drilling and transported soil cover has rendered historical surface exploration mostly ineffective. A HEM survey conducted by Venus in 2018 identified several HEM anomalies along the Youanmi Shear zone, with two in the area and high-priority drill targets. READ: Rox Resources extends shallow gold mineralisation in first-phase drilling at Mt Fisher Gold Project Rox and partner Venus Metals also have an ongoing reverse circulation program which is testing new high-grade targets as well as extensions to known mineralisation. Key focus areas are the high-grade Commonwealth prospect and areas adjacent to existing pits where there are likely extensions or repeats of mineralisation not mined in a $400-an-ounce mining scenario. This work is targeting a super pit as well as a series of shallow historical open pits at Youanmi that were mined more than 20 years ago, in a much lower gold price environment.
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