Rox Resources plans Grace gold resource estimate at Youanmi JV, begins field work at Mt Fisher and Mt Eureka

Initial work comprises versatile time-domain electromagnetic (VTEM) surveying in the northern and southern-most parts of the tenement package

Published: March 2, 2020

Drilling at the Grace deposit where two reverse circulation rigs are operating

Drilling at the Grace deposit where two reverse circulation rigs are operating

Rox Resources Limited (ASX:RXL) plans to start a gold resource estimate this month at Grace prospect within the 1.19 million-ounce Youanmi joint venture with Venus Metals Corporation Limited (ASX:VMC).

The company is also set to begin fieldwork targeting gold and nickel at its 100%-owned Mt Fisher project and at the Mt Eureka JV.

Rox co-owns Youanmi in a 50:50 JV with Venus Metals and is responsible for managing the operation, which hosts a JORC 2012-compliant resource estimate of 12.4 million tonnes at 2.97 g/t gold.

Drilling programs at Youanmi are ongoing, with assays on samples from the 6,500 metres of drilling at the Grace prospect expected soon.

Rox plans to begin resource estimation work on this prospect after sufficient results have been received.

Mt Fisher fieldwork

Rox has commenced fieldwork targeting gold and nickel at its 100%-owned Mt Fisher project and has established its field camp on site.

Initial work comprises versatile time-domain electromagnetic (VTEM) surveying in the northern and southern-most parts of the tenement package, aircore drilling of previously identified electromagnetic (EM) anomalies, as well as RC drilling of new targets identified from EM and structural geological reviews.

Mt Eureka joint venture

The company has also commenced fieldwork targeting gold and nickel at the Mt Eureka joint venture with Cullen Exploration Ltd.

Last year the company entered a binding terms sheet with Cullen allowing it to earn up to a 75% interest in the 290 square kilometre tenement package bordering the Mt Fisher project.

Mt Eureka extends the exploration tenure and could enhance the Mt Fisher project, which hosts 78,000 tonnes of nickel grading 1.9%.

The company will update the market on these programs which should extend through until July.

For the full article click here.

Category: News Story

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