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Cannon IPO steak and sizzle, page-66

  1. Goldhunter122
    1,476 Posts.
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    09/07/21
    12:41
    Post #: 54395078
    @Mongy

    As for Rox's gold deposit, highly unlikely as well to access funding to build the Youanme gold mine with the current resource and grade.

    You can see below Mongy all the high-grade gold 5+g/t was mined out in the early 1900s.

    1.19million ounces of gold, will need a lot more drilling and increase in JORC resource before any funding can be secured, hence the recent JV with Venus metals to keep the lights on.

    GLTA.

    Youanmi Gold, WA | Rox Resources

    Youanmi, Western Australia

    Gold





    Highlights:

    Confirmed Mineral Resource Estimate of 1.19Moz AuDatabase of circa 550,000m of drilling has been analysed and confirmedDatabase indicates significant opportunities that are to be followed up in upcoming drilling program

    The Youanmi Gold Mine

    The Youanmi Gold Mine is located 480 km to the northeast of Perth, Western Australia.

    The area has produced an estimated 667,000 oz of gold (at 5.47 g/t Au) since discovery in 1901 with most of the gold produced from the Youanmi Mine with additional gold sourced from Youangarra, Penny West, Columbia – Magenta and Currans.

    Rox, through two additional joint ventures holds large landholdings throughout the Youanmi Mining Centre.

    A joint venture with Oz Youanmi Pty Ltd (“OYG”), covering 65km2, and ~ 10km x 7km wide, and surrounds the Youanmi Gold Mine and nearby extensions.A joint venture with Venus Metals Corporation (“VMC”), which covers 302km2. The Youanmi joint venture covers 270km2 of this venture, which includes 40km of strike along the Youanmi Shear Zone.

    Geology

    The project is situated in the Youanmi Greenstone Belt, within the Southern Cross Province of the Archaean Yilgarn Craton in Western Australia. The structure of the Youanmi Project is dominated by the north-trending Youanmi Fault Zone, which traverses the eastern margin of all Project tenements and locally separates the greenstone stratigraphy to the west from the basement granitoids and gneisses to the east.

    Most of the gold mineralisation seen at the project is hosted within north-northwest splays off the north-northeast trending Youanmi Fault. The splays diverge from the Youanmi Fault to the south of the informally named Youanmi Granite and trend sub-parallel with the granite-greenstone contact (Figure 1).

    Locally near the Youanmi Mine, gold mineralisation occurs within lode structures contained by shears in close proximity to the greenstone-granite contact. Gold is distributed within these lodes in a series of steeply plunging shoots. Away from the contact gold mineralisation also occurs within structures in granite, basalt-BIF sequences and felsic volcanic rocks.

    Site Infrastructure

    The project comes complete with comprehensive site infrastructure including a CIP process plant (requiring significant refurbishment) which was designed to treat 600,000tpa of oxide ore, a tailings disposal facility, mine offices, combined core shed and workshop, mine village, access roads and airstrip.

    Facilities at the village will ultimately require varying degrees of refurbishment to accommodate a full-time work force. However, for the purposes of exploration crews, the village is well equipped.


    RXL Price at posting: 42.5¢ Sentiment: Sell Disclosure: Not Held
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