High-grade Results from Resource Definition Drilling Confirm Significant Endowment of Youanmi Gold Project

West Australian gold exploration and development 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 report initial assay results from the ongoing resource development program at the 3.2Moz Youanmi Gold Project (OYG JV), located near Mt Magnet in WA.

• First batch of assays received from ongoing Youanmi resource development drilling program include:
  • RXDD049: 4.00m @ 7.60g/t Au from 311m
  • RXDD052: 4.00m @ 14.85g/t Au from 298m
  • RXDD058: 6.53m @ 10.31g/t Au from 339.47m; and 7.61m @ 8.20g/t Au from 356.39m
  • RXDD059: 8.25m @ 8.54g/t Au from 265m
• Drilling confirms current interpreted mineralised lodes at Link, where drilling is aimed to increase Indicated ounces
• Over 50% of the 23,000m drilling program now complete

The assays are from an ongoing 23,000m resource development and near mine exploration drilling program. The resource development drilling, which is focused on the high-priority Link and Kathleen areas of the project, is designed to convert Inferred Resources to the higher confidence Indicated classification for inclusion in a Pre-Feasibility Study.

At Link, assays identified numerous gold intercepts greater than the average Youanmi underground grade of 6.89g/t (ASX announcement 20 April 2022) and confirmed a zone of high-grade mineralisation with extensive down-plunge continuity – about 200m from historical underground and open pit workings (Figure 3).

The mineralisation at Link remains open down-plunge to the north- west and up-plunge to the south-east – confirming the presence of extremely robust mineralised lodes that include zones of thicker mineralisation along with zones of higher gold grades.

Rox Resources Managing Director, Mr Robert Ryan, said:

“Our confidence that Youanmi is a large-scale, high-grade gold system with enormous upside continues to grow with each drill result that we receive.

“The first results from Link show a higher-grade tenor of gold mineralisation than our geological models indicated, suggesting that this sector of the deposit will contribute positively to the planned Mineral Resource review and update later this year to be included in the Feasibility Study.

“The numerous, wide intercepts of high-grade mineralisation at Link have exceeded our expectations and, together with the exciting recent results from exploration drilling at Midway and Youanmi South, highlight Youanmi’s potential to deliver quality ounces and extensive resource growth.”

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