Much of what Rox achieved in 2021 was under the radar as part of a bigger picture that we see results for this year.
The studies needed to produce a DFS have been quietly underway.
The all important DFS is due late this year with the financials of restarting Youanmi.
Rox and Hawke's Point are quietly confident.
Rox has been steadily building the gold ozs to support a JORC upgrade to more than 2m oz au including an upgrade of the Grace high grade deposit.
A scoping study with a mine design and initial feasibility study will also be announced.
Of market significance, an early high grade mine operation is likely based on Grace.
Another quiet achievement of Rox was staffing the company with world class geos at a time of dire shortage of top geos.
Mathew Antill(general manager Youanmi operations) would be snapped up by any mining company in WA and yet he chose to work at Rox, a mere minnow by its market cap.
With Hawke’s Point joining Rox as cornerstone investors, after months of due diligence, came their input into a technical committee and the use of more high tech geo tools.
As a result of these changes, Rox focused on project scale reviews and target generation rather than blind drilling.
At Link, Rox ‘cracked the code’ and can now drill on target with a very high chance of success. More Link assays are due and expected before the Q4 report at the end of this month.
Over at the geologically exciting Fisher Gold Project Rox has completed a review of the Mt Fisher-Mt Eureka Gold Project area, a major NNW trending structure (Hootanui Shear) that is likely to be a deep-seated gold plumbing conduit with nickel-sulphide and gold deposits.
Target generation is complete here with a 4000m RC program to test priority gold targets to be completed this month.
A 160 hole AC drilling program has already been completed with assays awaited.
Notably, the Wagtail prospect has strong potential as a bonanza grade gold deposit.
·MTFC002: 5m @ 41.13g/t Au from 44m, including 3m @ 67.94g/t Au from 45m
·WTRC002: 3m @ 55.14g/t Au from 47m, including 2m @ 81.6g/t Au from 47m; and
·MTFC020: 2m @ 32.69g/t Au from 42m
If another junior had these initial results their market cap would be $30m +
Mt Eureka is another prospect with excellent potential about which we will be hearing a lot more about this year.
Another quiet achievement was a comprehensive review of the extensive historical datasets including drilling, geochemical and geophysical data that identified numerous targets over an 18km strike continuation of the Youanmi Shear Zone and subsidiary faults that host the major gold occurrences in the region (Penny Project and Youanmi Mine).Rox will announce RC and DD targets soon following shallow AC targeting drilling.
2022 is likely to be the year when patience pays off for Rox shareholders.
My opinions DYOR
(20min delay)
