Rox Resources progresses Youanmi Gold Project and identifies lithium anomaly

Rox Resources Limited (ASX: $RXL) has made significant progress during the March 2024 Quarter, focusing on the completion of the final elements of a Pre-Feasibility Study (PFS) for its flagship Youanmi Gold Project. The company delivered an updated Mineral Resource Estimate (MRE) for Youanmi, including a 20% increase in Indicated Resources, providing a strong basis for the forthcoming PFS and maiden Ore Reserve, scheduled for delivery in June 2024.

Executive Commentary on Rox Resources' Progress

The Managing Director, Mr Robert Ryan, highlighted the core focus on key aspects underpinning the upcoming Pre-feasibility Study, including increased resource confidence and metallurgical flow sheet enhancements. The aim is to build on the positive Scoping Study with enhanced output, mine life, and economic metrics. The overall Youanmi Indicated Resource now stands at 1.56Moz at 4.5g/t Au, including a 48% increase in the Youanmi Underground Indicated Resource to 1.10Moz at 6.1 g/t Au, with this portion of the Resource available for conversion to Ore Reserves.

Summary of Rox Resources' ASX Release

Rox Resources has made significant progress with the Youanmi Gold Project, with the Pre-Feasibility Study and maiden Ore Reserve on-track for delivery in June 2024. The updated Mineral Resource Estimate confirms Youanmi as one of the highest-grade emerging gold projects in Australia, with a total Resource of 2.3Moz at 4.4g/t Au. The company has also identified a large-scale lithium anomaly at Youanmi, extending over a +10km strike length, which presents an exciting target for future resource growth. Additionally, the Mt Fisher-Mt Eureka Project has identified multiple high-priority gold targets, further enhancing the company's exploration portfolio. Rox Resources remains focused on progressing development at Youanmi while assessing opportunities to monetize the Mt Fisher-Mt Eureka Project to deliver value for shareholders.