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ROX RESOURCES LIMITED - Corporate Spotlight

Rox Resources Limited (ASX:RXL) is an Australian listed company with advanced nickel and... Rox Resources Limited (ASX:RXL) is an Australian listed company with advanced nickel and gold exploration projects in Australia: the Fisher East and Collurabbie Nickel Projects, and the Mt Fisher Gold project, all in Western Australia.More

Corporate Spotlight

Rox Resources Limited (ASX:RXL) is an Australian listed company with advanced nickel and gold exploration projects in Australia: the Fisher East and Collurabbie Nickel Projects, and the Mt Fisher Gold project, all in Western Australia.
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Investor Update with Alex Passmore, CEO RXL

VIDEOS

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The Market Herald Live - Rox Resources kickstart drilling at Youanmi - July



Investor Updates with Alex Passmore, CEO Rox Resources - June 2020



TMH Bulletin: Rox Resources looks to complete $12.7m capital raise - May 2020


Interview with Alex Passmore, Rox Resources - 2019



ROX EXTENDS MINERALISATION AT YOUANMI

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16th June 2020 - The Market Herald


  • Rox Resources (RXL) and Venus Metals (VMC) have extended mineralisation at the Grace prospect within the Youanmi Gold Project 
  • The 3000-metre drilling program was completed in the OGY joint venture area of the Western Australian project 
  • Highlights include an intercept of 25 metres grading at 34.79 grams per tonne of gold from 150 metres 
  • Rox Resources recently increased its stake in this joint venture area to 70 per cent, while the remaining 30 per cent is held by Venus Metal's wholly-owned subsidiary Oz Youanmi Gold 
  • Today, Oz Youanmi Gold elected for Rox Resources to pay its portion of costs and liabilities in the joint venture until a decision to mine is made 
  • The loan is secured against Oz Youanmi's interest in the OGY joint venture
  • Rox Resources is up 50 per cent to 3.6 cents per share, while Venus Metals is trading 17.7 per cent higher for 20 cents per share

Rox Resources (RXL) and Venus Metals (VMC) have extended mineralisation at the Grace prospect within the Youanmi Gold Project. 

The 3000-metre drilling program is testing depth and strike extensions to the Grace prospect, as well as infilling areas of high-grade mineralisation. This prospect lies within the OGY joint venture area of the Youanmi Gold Project in Western Australia.


Only the first assay results have been received, but Rox Resources Managing Director Alex Passmore said these are already significant. 


"These very impressive results are the best we’ve seen and significantly, are from the deepest drilling at Grace to date. The exploration model we are applying at Grace is continuing to work well, delivering what is shaping up to be a substantial high-grade deposit. We look forward to updating the market on further assays as they become available," Alex said.


Highlights from the drilling campaign included an intercept of 25 metres, which graded at 34.79 grams per tonne of gold from 150 metres in hole RXRC287. This intercept successfully extended mineralisation along strike as well as down-dip. 


Approximately 20 metres down dip from this intercept, hole RXRC287, intercepted visible gold in RC chips. Assay results from this hole are pending.


Last week, Rox Resources elected to increase its stake in the OGY JV to 70 per cent, Venus Metals holds the remaining 30 per cent through its wholly-owned subsidiary, Oz Youanmi Gold. 


Today, Oz Youanmi Gold elected to have its 30 per cent proportion of costs and liabilities in the joint venture paid by Rox Resources up until a decision to mine. The interest-free limited-recourse loan is secured against Oz Youanmi's interest in the OGY JV. 

Rox Resources is up 50 per cent to 3.6 cents per share, while Venus Metals is trading 17.7 per cent higher for 20 cents per share at 1:00 pm AEST.


Read the full article on The Market Herald Here

RXL DELIVERS HIGH GRADES AT YOUANMI MINE

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Rox Resources (ASX:RXL) delivers further high grades from historic Youanmi mine

The Market Herald Article - 2nd April 2020


  • Rox Resources (RXL) has reported further high-grade results from its early 2020 drilling program at the Youanmi Gold Project in WA
  • Rox and its joint venture partner, Venus Metals, have defined a significant high-grade mineralisation zone that extends from the surface and is open to the north
  • The best intersection includes seven metres at 54.6 grammes per tonne of gold from the Grace prospect
  • Due to COVID-19, the company is still awaiting results from 78 drill holes
  • To ensure the safety of its workers, Rox has decided to pause the drilling program and use this time to analyse previous data
  • In saying that, preliminary mineralisation and resource modelling has commenced and will go on
  • Rox Resources is up a healthy 12.5 per cent and shares are trading for 1.8 cents each

Rox Resources (RXL) has reported further high-grade results from its early 2020 drilling program at Youanmi.

These recent assays have been collected from 31 reverse circulation (RC) holes drilled at the Grace prospect of the Youanmi Project. 

Rox Resources, and its joint venture partner Venus Metals, has defined a significant high-grade zone of mineralisation extending from surface, open to the north and which lies within a broader wide zone of mineralisation. 


This zone is interpreted as a northerly plunging high-grade, gold mineralised body. However, results from the northerly lines of holes are still outstanding.


Significant results include; seven metres at 54.6g/t gold from eight metres, one metre at 29.7g/t gold from 23 metres, six metres at 5.7g/t gold from 24 metres, four metres at 4.5g/t gold from nine metres, and three metres at 5.32g/t gold from 53 metres.


"The Grace prospect is emerging as an exciting high-grade deposit with one of the better recent intersections returned from hole RXRC151 being a spectacular seven metres at 54.6 g/t Au from eight metres," Managing Director Alex Passmore said.

"This newly discovered mineralisation has all the hallmarks needed to bring it into early production — it is close to surface, lies near to existing pits and sits within a granted mining lease which already has substantial infrastructure," he added.

Grace is located in a general north northwest/south southeast trending line of load which includes the Airstrip and Youanmi South prospects.


The Youanmi Gold Mine is located 480 kilometres to the northeast of Perth, Western Australia. Since its discovery in 1901, Youanmi has produced an estimated 667,000 ounces of gold (at 5.47 g/t gold).


The project lies within the Youanmi Greenstone Belt, situated in the Southern Cross Province of the Archaean Yilgarn Craton in WA. Most of the gold mineralisation seen at Youanmi is hosted within north-northwest splays off the north-northeast trending Youanmi Fault.


Due to the COVID-19 pandemic, analysis of assay results has been conducted at a much slower pace. Results for 78 RC drill holes are still outstanding.


Rox has decided to pause the drilling program to ensure the health and safety of its employees and contractors. 

However, preliminary mineralisation and resource modelling has commenced and will be ongoing. 


During this hiatus, Rox will study the data received from the airborne magnetic survey completed in January this year. It will also study 250 holes drilled since July last year and the extensive database to continue searching for high-grade near-surface deposits at Youanmi.


Rox Resources is up a healthy 12.5 per cent and shares are trading for 1.8 cents each at 10:31 am AEDT.


Read the full article on The Market Herald here: https://themarketherald.com.au/rox-resources-asxrxl-delivers-further-high-grades-from-historic-youanmi-mine-2020-04-02/



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