Name of the Project
Youanmi gold project.

Location
Murchison region of Western Australia.

Project Owner/s
Exploration and development company Rox Resources.
 
Project Description
The project encompasses underground mine production from the Youanmi main lode, Link and Pollard deposits.

A prefeasibility study (PFS) has confirmed the potential to develop a financially attractive, standalone high-grade and -margin gold project with an initial 7.7-year mine life.

The project has a maiden probable ore reserve estimate of 3.83-million tonnes at 4.4 g/t gold for 546 000 oz of contained gold.

The PFS envisages production of 786 000 oz of gold doré over the life-of-mine (LoM), averaging 103 000 oz/y over the LoM.

There is significant upside in the project, with the underground resource remaining open down-dip and along strike, and near-mine exploration targets of between 1.1-million ounces and 1.8-million ounces. These targets have the potential to increase the yearly production rate and mine life of the project if Rox is successful in converting those ounces into resources and, ultimately, ore reserves.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
At a conservative gold price of A$3 100/oz, the project has a pretax and unleveraged net present value, at an 8% discount rate, of about A$486-million (after-tax A$322-million) and internal rate of return of about 42% (after-tax 33%), with a payback of 2.9 years (after-tax 3.3 years) from the completion of construction and commissioning.

Capital Expenditure
Preproduction capital is estimated at A$245-million.

Planned Start/End Date
Not stated.

Latest Developments
Rox Resources reported on November 5 that it was preparing to fire the first decline cut at the United North pit.

The milestone follows the arrival of mining contractor Byrnecut’s personnel and equipment on site. Site establishment works are advancing rapidly, including the installation of water and power infrastructure, pit preparation and expansion of the Phase 1 camp.

A recently hosted site visit by representatives from eight leading Australian and international banks provided an opportunity for lenders to review project progress ahead of the completion of the definitive feasibility study (DFS), expected later in November.

“Credit-approved debt commitments are expected to follow the release of the DFS and completion of final due diligence to enable a final investment decision shortly thereafter,” the company has said.

Meanwhile, dewatering at the Youanmi main pit is continuing at about 100 ℓ/s, with completion expected in the first quarter of 2026. Evaporators are due to be commissioned in November to maintain the schedule.

Rox has also received an Exploration Incentive Scheme co-funding grant of up to A$220 000 for a drilling programme targeting southern extensions and repetitions of the Youanmi system. Data from an airborne magnetic survey is being processed to assist with target generation for the next phase of exploration drilling.

Key Contracts, Suppliers and Consultants
Byrnecut (mining contractor).

Contact Details for Project Information
Rox Resources, tel +61 8 9226 0044 or email admin@roxresources.com.au.