Venus Metals and Rox Resources reveal more high-grade gold results ahead of Youanmi resource update

Venus Metals Rox Resources gold results Youanmi update VMC RXL ASX
The joint venture partners expect to deliver Youanmi’s near-surface gold resource update in mid-April.

Venus Metals (ASX: VMC) and Rox Resources (ASX: RXL) have hit high-grade gold while drilling in the Link area of their jointly-owned Youanmi project in Western Australia with the results likely to contribute to the project’s upcoming resource update.

This latest round of drilling results was returned from shallower parts of the Link prospect, and near pre-1942 stopes of the historical mine. Highlights included 4m at 4.41 grams per tonne of gold from 128m, 4m at 4.43g/t from 52m, 1m at 13.44g/t from 384m and 2m at 5.41g/t from 286m.

Drilling near historical underground workings also intersected high gold grades including 3m at 15.86g/t gold within a broader 5m at 9.82g/t gold from 198m.

Rox managing director Alex Passmore said results from the near-mine drilling provide further confidence in the potential for high-grade mineralisation near historic mine development.

The partners expect to provide a near-surface resource update for Youanmi in mid-April, consolidating all near-surface drilling results from the project.

“The company continues simultaneously exploring and conducting mining studies as we progress the Youanmi gold project toward the potential restart of operations,” Mr Passmore added.

The Link prospect to grow Youanmi’s resource

Infill drilling at the Link prospect focused on resource conversion and extensional drilling to upgrade the recently reported Youanmi resource estimate of 3 million ounces at 3.78g/t gold.

Drilling to date at Link has defined a zone of high-grade mineralisation more than 200m from historical underground and open pit workings with extreme down-plunge continuity of high-grade ore zones.

Ongoing work at Youanmi

The Youanmi gold project, located near Mt Magnet in WA’s Mid West, is operated by Rox with a 70% interest while Venus holds the remaining 30% stake.

In addition to the near-surface resource update scheduled for release this month, the partners are continuing to plan and progress other activities at Youanmi including exploration drilling and the conversion of inferred to indicated resources, underground and open pit metallurgical test work for the feasibility study, plant design and costing for the scoping study, and mine design and environmental work.

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