
January 19, 2022
West Australian focused gold exploration and development company, Rox Resources Limited (“Rox” or “the Company”) (ASX:RXL), in conjunction with its joint venture partner Venus Metals Corporation Limited (ASX: VMC) is pleased to report a significant increase to the Mineral Resource Estimate (“MRE”) for the Youanmi Gold Project near Mt Magnet, WA.
Highlights:
- Youanmi Total Mineral Resource increased by 1.34 Moz Au to 3 Moz Au.
- Drilling results to the end of October 2021 included in this current resource update to deliver a 156% increase in the Deeps Resource contained gold.
- Youanmi Deeps very high-grade material increases following seven months of intensive infill and extensional diamond drilling for around 35,000 metres, as well as defining new areas such as Link, Junction, and mineralisation-parallel hanging-wall lodes.
- The Youanmi surface resource was not updated in this estimation round with further updates pending.
- All in exploration costs for the project indicate a $7 per ounce discovery cost – an exceptional result.
- Significant increase in Au metal ounces per vertical metre paves the way for expected robust conceptual economics, particularly with the recent determination of the Albion process as the preferred method for sulphide ore bodies at Youanmi (92.2% average gold extraction for underground). *
Drilling and exploration work at the Youanmi Gold Project in the OYG JV area (Rox 70% and Manager, VMC 30%) has yielded substantial increases in known and defined tonnages and ounces since the acquisition and commencement of drilling in mid-2019.
Rox has used in-house expertise to complete the Youanmi Deeps Resource update (Report Youanmi Deeps Mineral Resource Estimate January 2022 – refer Table 1) and engaged CSA Global (who completed the previous update in June 2021) to conduct independent checks of the modelling process. The previous resource for Youanmi Deeps and Near Surface was published in June 2021 (ASX announcement 23rd June 2021).
Click here for the full ASX Release
This article includes content from Rox Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
RXL:AU
Alert Options
No alert set
INN Article Notification
Alert Option
You will be notified when this event occurs. No additional settings needed.
The Conversation (0)
11 August
Joe Cavatoni: Can Gold Rise in H2? 3 Key Factors I'm Watching
Joe Cavatoni, senior market strategist, Americas, at the World Gold Council, shares key takeaways from the organization's latest quarterly Gold Demand Trends report. He highlights the yellow metal's resilience at the US$4,000 per ounce level in the face of various price headwinds. Cavatoni also... Keep Reading...
10 August
Barrick, Newmont Settle Nevada Dispute in US$1.95 Billion Deal
Gold giants Barrick Mining (TSX:ABX,NYSE:B) and Newmont (NYSE:NEM,ASX:NEM) agreed to a US$1.95 billion truce on Monday (August 10), resolving a months-long dispute between the top gold miners that threatened to derail Barrick's planned North American spin-off.Under the settlement, Newmont... Keep Reading...
07 August
Fed’s Hawkish Hold Splits Metals: Gold Gains, Silver Falls
The US Federal Reserve’s decision to hold interest rates steady while signaling a clear bias toward future hikes has propelled gold to new highs while exposing silver’s macroeconomic vulnerabilities.Following the Federal Open Market Committee (FMOC) meeting on July 29, the central bank... Keep Reading...
07 August
Pinnacle Closes First Tranche of Private Placement
Pinnacle Silver and Gold Corp. (" Pinnacle " or the “ Company ") is pleased to announce that it has closed a first tranche of the non-brokered private placement announced on July 13, 2026 (the “Offering”) for gross proceeds of $652,080. The first tranche consisted of 5,928,000 units (the... Keep Reading...
06 August
Top 5 Australian Mining Stocks This Week: Vertex Minerals Shines on Gold Mine Update
Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks on the ASX.Companies focused on gold, copper and rare earths landed in the top five this week, with gold miner Vertex Minerals taking the top spot.Read on to discover this week's top gaining Australian... Keep Reading...
Latest News
Interactive Chart
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00





