WA-based exploration and development company Rox Resources (ASX:RXL) has boosted the Youanmi Gold Project near Mt Magnet, WA, with positive drilling results from the previously discovered Midway prospect.
Midway is just 300 metres from the hanging-wall of the Youanmi Main Lode and presents an excellent near mine exploration target, open in all directions.
The high-grade tenor of the results to date show Midway has the potential to be higher grade than the Youanmi main lode.
Drilling at Midway is continuing.
The new assay results included:
6.76 metres at 15.40 grams per tonne gold from 169.13 metres;
3.73 metres at 10.25g/t from 405.80 metres; and
2.86 metres at 22.03g/t from 356.39 metres.
Rox Resources Managing Director Robert Ryan said the Midway discovery had vast potential to grow with follow-up work underway.
Ryan said: “From the initial drilling campaign last year, excitement has been building for the latest drilling results at Midway and they have not disappointed, with thick, high-grade gold intercepts proving the exploration concept.
Follow-up drilling is currently being planned and will commence in the coming weeks.
“The results from Midway to date have shown that this discovery has the potential to grow substantially in all directions in a corridor previously untested with drilling.
“The high-grade tenor of the results to date show Midway has the potential to be higher grade than the Youanmi main lode and has the potential to significantly contribute to the gold resource.
“2023 is evolving into an exciting year for the company as we continue our three pronged approach for building value for shareholders through adding ounces through exploration, increasing resource confidence through in-fill drilling and de-risking the project through feasibility work.”
