Australian gold and nickel company, Rox Resources Limited ('Rox' or 'the Company') (ASX: RXL), is pleased to present its quarterly activities report for the period ending 30 June 2021.
Youanmi Gold Project
Rox Resources Limited (Rox) holds a 70% interest in the OYG Joint Venture and is the manager at the historic Youanmi mining centre. Venus Metals Corporation Limited (ASX:VMC) ('Venus' or 'VMC') retains a 30% interest. The Youanmi Gold Project is located 480km NE of Perth and 400km inland and to the east of Geraldton. The Youanmi Gold Mine located near the centre of the project tenement package has historic production of 667,000 ounces of gold grading 5.42g/t from open pit (1987 - 1993) and underground operations.
The operation was closed in 1997 when the gold price was approximately $400 per ounce with the last parcel of ore mined underground at 14.6 g/t Au grade. The Youanmi Project Mineral Resource Estimate of 18.1Mt at 2.85 g/t Au for 1.7Moz of gold can be categorised into a near surface portion of 14.7Mt at 1.69 g/t Au for 0.8M ounces of gold and the Youanmi deeps of 3.4Mt at 7.9 g/t Au for 0.9M ounces of gold1.
There is significant scope to increase resources with further drilling.
Forward Plan
Having assumed management of the regional joint ventures, Rox is undertaking a comprehensive review of the extensive historical dataset (drilling, geochemical and geophysical) with the aim of identifying target regions of structural complexity that are fluid focusing gold deposition trap sites. Target generation will focus on discovering free milling gold mineralisation analogous to the Penny deposits held by Ramelius Resources Limited which are quartz-sulphide lode veins occurring within greenstone and granitoid intrusive units with associated lead, zinc and copper pathfinder elements.
Mt Fisher Gold / Mt Eureka Project
The Mt Fisher / Mt Eureka Project is located in the Northern Goldfields, about 500km north of Kalgoorlie (about 120km east of Wiluna). Rox holds 850km2 of the Mt Fisher greenstone belt and surrounding prospective zones (Rox 100% 500km2) and in the Mt Eureka area through the Cullen Resources Joint Venture , 350km2 (Rox currently earning up to 75%, Cullen Resources Limited 25%). The Mt Fisher greenstone belt hosts extensive orogenic gold mineralisation. More recently the belt has been recognised as containing significant komatiite hosted nickel deposits and showing potential for VMS Cu-Zn style deposits.
Forward Plan
Exploration at Mt Eureka is focused on the identification of orogenic gold mineralisation and VMS style mineralisation. A project scale review in 2020 of historic geochemical and geophysical datasets recognised the potential for VMS mineralisation in Mt Fisher-Mt Eureka greenstone belt including Cu, Zn & Au anomalous VMS style exhalative sulphide mineralisation in historical drilling. Additionally, zones of strong multielement geochemical anomalism in regolith (including Au, Cu, Pb and Zn) were identified in several areas throughout the project. The direct evidence for VMS style mineralisation highlights the belt's prospectivity for this style of mineralisation. Due to minimal previous VMS exploration across the belt, the entire Mt Fisher-Mt Eureka greenstone belt is considered prospective for VMS mineralisation. VMS targets are analogous to Teutonic Bore, Jaguar and Bentley, which lie within the same geological Terrane as the Mt Fisher greenstone belt.
Corporate
During the quarter Rox's Executive team was strengthened with the recruitment of Mr Chris Hunt as Chief Financial Officer and Company Secretary, and Mr Matthew Antill as General Manager Youanmi Operations. Both Mr Hunt and Mr Antill bring a wealth of relevant expertise to Rox Resources and significantly enhance the Executive team, positioning the Company to bring the Youanmi project into production.
The demerger of Cannon Resources Limited, which holds the Fisher East and Collurabbie nickel and base metal assets, has rapidly progressed with the following milestone activities completed during the quarter: Timetable confirmed; Board and Management team appointed; ASX in-principle approval for listing; Prospectus lodged and Shareholder approval received for items pertaining to the demerger.
The Company's share consolidation (1 for 15) was approved at the General Meeting on 28 June 2021.
Contact:
Alex Passmore
Tel: +61 8 9226 0044
Email: admin@roxresources.com.au
ROX RESOURCES LIMITED 
