Rox Resources Limited (ASX:RXL) Reports High-Grade Gold Intercepts at Youanmi Project
Exploration Results
Rox Resources Limited (ASX:RXL) announced significant assay results from its Step-up drilling program at the Youanmi Gold Project. The latest intercepts include RXRC568: 6.00m @ 19.08g/t and RXDD162: 1.00m @ 40.93g/t, among others. The drilling program is 64% complete, with five drill rigs onsite and additional results expected.
Operational Progress
The company has completed remedial works on the evaporation ponds and anticipates pipe installations in late March, which will precede dewatering activities. Metallurgical test work by ALS Perth is nearing completion, with initial results expected mid-year.
Future Outlook
Rox Resources plans to continue drilling to expand the mineral resource and increase the Indicated Resource category. The company aims to revise the mine plan to enhance ore throughput and gold production, thereby reducing the capital payback period.
Executive Comments
Managing Director & CEO Phillip Wilding stated, “Our ~35,000 metre Step-up Diamond and RC drill program continues to return fantastic results from all Resource extension areas, along with filling the gap in the existing Resource between Pollard and Youanmi at the emerging ‘Prospect’ area. We consider the discovery of mineralisation at Prospect to be particularly exciting, given its potential to bring forward shallow, high-grade ounces in the DFS mine plan.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.