Exceptional gold results confirm new discovery at Grace Prospect

Australian gold and nickel company, Rox Resources, in conjunction with its joint venture partner Venus Metals Corporation, intercept exceptional gold grades following a drilling program at the Younami Gold Project in Western Australia.

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Aerial photo with drill collars and intersections overlayed

Results received from drilling along strike to the north and down dip of the initial discovery holes at Grace Prospect returned results including:

  • RXRC135: 8m @ 37.25 g/t Au from 44m (Grace)
    Including: 4m @ 73.81 g/t Au from 48m (Grace)
    4m @ 9.96 g/t Au from 4m (new HW zone)
  • RXRC133: 4m @ 18.06 g/t Au from 16m (Grace)
  • RXRC132: 4m @ 11.02 g/t Au from 48m (new FW zone)
    4m @ 5.13 g/t Au from 12m (new FW zone)

This drilling tested along strike and down dip positions relative to the drill results released to ASX on 24 December 2019.

These results are from the Companys drilling campaign at the OYG JV1, which forms part of the wider Youanmi Gold Project. This round of drilling concluded in late December with assays recently received.

The Company is awaiting a final batch of sample results from this program.

Assays results for the 4 metre composite samples have been received and composite intervals exceeding 0.25 g/t will be re-assayed on a 1 metre basis.

These results are interpreted to be close to true width and define a series of moderate west-dipping quartz hosted gold lodes in granite that remain open at depth and along strike. This drilling has identified new gold bearing veins which are yet to be tested both above and below the Grace Lode previously identified in recent drilling.

Managing Director Alex Passmore said he was very pleased to report these follow on high-grade results from Grace Prospect.

RC Drilling is set to recommence by the end of this week with a diamond drilling crew heading to site shortly thereafter. The results demonstrate the high prospectivity of the Youanmi Project area beyond previously identified ore zones, Mr Passmore said.

Gold mineralisation at the Grace Prospect is interpreted to be shear/ fracture zone related occurring in the granite footwall rocks adjacent to the historically mined Youanmi gold mine sequence.

Grades seen at Grace Prospect are high relative to historical mining grades and given the quartz hosted
nature ore is likely to be free milling in nature.