Ann: New exceptionally high gold grades extend Grace Prospect, page-95

Rox Resources (ASX:RXL) and Venus Metals (ASX:VMC) find further gold mineralisation at Grace

Mining

ASX:RXL MCAP $126.5M

Markets Reporter [email protected] 01 September 2020 10:45


CEO, Alex Passmore
Source: The Market Herald

• Australian gold and nickel company Rox Resources (RXL), along with its joint venture partner Venus Metals (VMC), has found new high-grade results at the Grace Prospect
• Grace is located in the OYG joint venture area within the Youanmi Gold Mine in Western Australia
• The best intercept from the new results comes from drillhole RXRC239, which intersected 13 metres at 60.49g/t of gold from 177 metres
• These results confirm the mineralisation at Grace is within strongly sheared, fractured and altered granite within a broad mineralised corridor

Australian gold and nickel company Rox Resources (RXL), along with its joint venture partner Venus Metals (VMC), has found new high-grade results at the Grace Prospect.

Grace is located in the OYG joint venture area within the Youanmi Gold Mine in Western Australia.
New drilling results at Grace has found gold mineralisation that continues to be discovered within the Youanmi Granite.

The best intercept from the new results comes from drillhole RXRC239, which intersected 13 metres at 60.49g/t of gold from 177 metres, including four metres at 191.56g/t of gold from 181 metres.

These results confirm the mineralisation at Grace is within strongly sheared, fractured and altered granite within a broad mineralised corridor.

Managing Director Alex Passmore is pleased with the results from the ongoing drilling at Grace.
"Mineralisation strike length continues to grow as we conduct step-out drilling with impressive grades being encountered," he said.

"With a combination of infill reverse circulation (RC) and diamond drilling we are well placed to deliver a strong maiden resource for Grace in due course," he added.

The current reverse circulation drilling program at Grace commenced in late May 2020 and is planned to include 126 holes for 16,000 metres of drilling. Currently, Rox has reported on 76 holes.

Exploration is also being focused along the mineralised corridor within the Youanmi granite, which extends around 1.5 kilometres to the north of the historical mine infrastructure and spans 2.5 kilometres of strike.