Rox advances Youanmi gold project
Exploration and development company Rox Resources has made progress at the Youanmi gold project, in the Murchison region of Western Australia, during the December quarter.
In its quarterly activities report on Tuesday, CEO Philip Wilding highlighted that the company’s dual strategy of project development and resource expansion had been bolstered by a successful capital raise and progress on key initiatives, positioning Youanmi for its return to production.
"We were delighted by the strong support for the A$27-million capital raising, which sees Rox well-funded to deliver the definitive feasibility study (DFS), which is on track for late CY25," Wilding said.
“We are building a strong foundation to return the Youanmi gold project to production,” he stated.
During the quarter, Rox completed an 11 000-m resource definition drilling programme, with all results received and under review. The programme is a crucial component of refining the project’s resource base as the company moves towards its DFS.
Building on this momentum, the company launched a 35 000-m step-up drilling campaign ahead of schedule in late December. This campaign is designed to identify additional high-quality ounces and further enhance the project’s resource inventory.
Further, metallurgical studies are under way and planning for early dewatering activities is also well advanced. Dewatering will enable Rox to access underground workings and progress development activities at the past-producing mine.
“Rox has outlined its pathway to production, and the DFS is well and truly under way,” commented Wilding.
The company started a DFS in July last year, having published a positive prefeasibility study (PFS), which outlined a long-life, high-grade 100 000 oz/y gold operation, with compelling financing metrics.
Using a gold price of A$3 100/oz, the PFS delivered an aftertax net present value of A$322-million and a 33% internal return on investment. An estimated A$245-million in preproduction capital is needed to build a mine.
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