Venus Metals and Rox Resources identify key Youanmi gold resource with two more rigs on the way

Venus Metals Rox Resources Youanmi ASX VMC RXL gold Link Prospect
Latest assay highlights from drilling at Link comprise 5m at 5.96g/t gold from 138m, including 2m at 12.9g/t gold.

Gold exploration partners Rox Resources (ASX: RXL) and 30%-holding joint venture partner Venus Metals (ASX: VMC) have identified the Link prospect at their Youanmi as a ‘key’ gold target.

The companies are reporting seven more reverse circulation drill holes from Link, all of which intersected gold mineralisation.

In addition, assaying of a previously unsampled historical diamond core at Link returned 6.1m at 8.22 grams per tonne gold, with Rox proceeding with the re-sampling program.

The new assays from down plunge at Link included 5m at 5.96g/t (from 138m down hole), 4m at 3.71g/t (from 216m) and 4m at 2.98g/t (from 162m).

Rig number to rise to five

Meanwhile at the historic Western Australian project, RC and diamond drilling continues at all three new priority prospects, Grace South, Link and Junction.

Assays are pending for eight RC holes and nine diamond holes at Junction and Link.

Three rigs (two of them diamond) are in operation at Youanmi, with an additional diamond and an aircore rig to arrive soon.

Rox managing director Alex Passmore said the results from Link are from May drilling as the ground exploration program was gathering pace.

“Exploration at Youanmi continues to be very active with our rig count growing,” he added.

“It’s highly encouraging to report new mineralised positions previously unrecognised, close to existing mine development.”

High-grade hits close to old mine workings

At Link, the latest results have defined a zone of high-grade mineralisation in proximity to historic open pits and, in some cases, close to existing underground development.

The Link target is situated within the northern mineralised envelope that hosted the high-grade United North, Kathleen and Rebel-Kurrajong open pits and Hill End underground mine.

The Youanmi mining centre has produced an estimated 667,000oz of gold (at an average 5.47g/t) since its discovery in 1901. It has been mined over three periods: 1908-21, 1937-42 and 1987-97.

Most of that gold was produced from the Youanmi mine itself, with 96,000oz produced from various satellite prospects.

In early 1908, just before the first mining operation began, a correspondent filed a report to the Kalgoorlie Western Argus newspaper predicting the Youanmi field held promise.

“About a month’s acquaintance with the central portion of the Youanmi field … has convinced me it is the nucleus of a very great auriferous tract, which in the near future will be one of the great gold-producing areas of West Australia,” he wrote.

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