Ann: RXL: Youanmi Exploration Update, page-7

Reposted from RXL thread.


Venus has a 30% stake.


Finally we will learn more about the gold under the infrastructure.

The SAM method was trialled for the primary aim of mapping known gold mineralised structures over a 2.5km by 1.5km target area in the very weakly magnetic Youanmi granite and potential extensions to the southeast, beneath historical mine infrastructure (waste dumps and TSFs) that has been poorly drill tested by historical drilling.
Why such certainly there is gold there?
Looking at the results from nearby drilling it is very likely and weakly magnetic granite is a good indicator..
Wasn't the ground set aside for infrastructure drilled to make sure there was no gold?
No because the infrastructure was placed on granite and at that time all the gold was thought to be in greenstone. Grace was previously overlooked, being situated in a nearby sheared and altered granite, compared with the historically mined areas at Youanmi in a greenstone belt.
It was only when Alex came along with his advanced geological knowledge and his background in mining research that he knew to drill the granite.
That's how he discovered Grace.
The new gold will be high grade oxide and likely shallow but could go down hundreds of metres as is typical of Youanmi.

Alex is aiming for an initial resource to add to the current open pit, free milling resource of about 530,000oz of the project's total 1.2Moz. He wants to prove up 1.3-1.5Moz, in addition to the underground Grace Deeps resource of 650,000 oz high grade. To restart, Alex is building towards an open pit free milling resource of 800,000-to-900,000oz of mineable material. Grace is part of that and this new exploration under the infrastructure will imo add up to 100,000 oz au