Highlights:
- Youanmi Near Surface Resource increased by 204Koz Au to 1,004Koz Au
- This resource upgrade incorporates 16,000m of additional RC drilling above 160m vertical depth and delivers a 26% increase in the Near Surface Resource contained gold.
- Youanmi Mineral Resource inventory has increased by 93% from 1.7 million ounces (
- All in exploration costs on a rolling average basis for the project (Underground and Near Surface Resources) since project acquisition indicate an average
Drilling and exploration work at the
Rox has used an independent consultant, Widenbar Associates, to complete the Near Surface Resource estimate (refer Table 1*). The previous near surface resource for Youanmi was published in
Rox Managing Director
"We are very pleased to announce this increase to the Near Surface Resource Estimate at Youanmi following the inclusion of newly delineated mineralised zones along the mine corridor including the Link, Footwall Lodes and Hanging-wall Lodes.
The lift in the Near Surface Resource incorporates data from 16,000m of RC drilling undertaken in the second half 2021 and early 2022. The substantial increase in both Near Surface and Underground resources at Youanmi is testament to the strong geological understanding our exploration team has developed, allowing for precise and effective targeting of gold lodes that continues to deliver strong results. The scale of Youanmi is starting to become more apparent and in line with our high level of confidence in the Project.
This resource will underpin the open pit component of the company's Scoping Study which is on track for completion in the middle of the year."
Comparison to Previous Near Surface Resource Estimate:
The Near Surface Resource Update has resulted in a 26% increase in contained metal representing 204,000 additional ounces of contained gold. This has resulted in an increase in the overall Youanmi gold inventory to 3.2 mil oz Au which is 7% up from 3.0 mil oz Au reported in
Following 38,000 metres of infill and extensional RC and diamond drilling completed throughout 2021 the combined Near Surface Resource and Underground Resource (formally known as "Youanmi Deeps Resource") (ASX RXL
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/1BX4SN9I
About
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Tel: +61 8 9321 7541
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