11-Sep-2020:  VMC: High Grade Gold Mineralisation Discovered at Taylors Reef

This sounds like an interesting story.  A prospector (Mr D Taylor) found high-grade gold from surface workings last year (see here) and now VMC (Venus Metals Corporation) and RXL (Rox Resources) have a 50/50 JV for 90% of that area (Mr Taylor retains ownership of the other 10%), which they are calling "Taylor's Reef Prospect".  They've today announced their best results from their recent drilling at Taylor’s Reef, which include: 

• CFRC084
  • 3m @ 19.58g/t Au from 21m       
    • Incl.  1m @ 55.81g/t Au from 23m, and  
  • 3m @ 14.30g/t Au from 73m        
    • Incl. 1m @ 19.86g/t Au from 74m 
• CFAC047 
  • 2m @ 6.67 g/t Au from 57m              
    • Incl.  1m @ 12.27g/t Au from 58m 

--- click on link above for more ---

[I did hold RXL shares for a while, but sold them.  I have never held VMC shares.]

07-Oct-2020:  Youanmi Exploration Update

Youanmi Exploration Continues to Deliver

Highlights:

• Significant exploration activity continues at Youanmi
• New gold zone discovered 3km north of mine site. AC drilling of 251 holes for 11,516m completed to date. Assays received for first 25 holes with new high-grade gold zone identified within the Youanmi granite 3km north of Grace in:
  • RXAC022 4m @ 15.95g/t Au from 36m
• RC drilling ongoing as excellent results continue:
  • RXRC314 2m @ 13.96g/t Au from 114m encountered at Grace (north)
• Assays pending for 1½ months of drilling comprising 2,600 metres of RC drilling from 17 holes. 226 aircore holes and 9 diamond.
• Visible gold in diamond drilling at Grace. 9 diamond holes for 1192m completed at Grace with results pending for all holes.

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--- click on link above for more ---

[I do not hold RXL shares.]

01-Sep-2020:  New exceptionally high gold grades extend Grace Prospect

Youanmi Exploration Update:  New exceptionally high gold grades extend Grace Prospect strike length to 700m

Highlights:

• New, very high-grade results encountered at Grace extend strike length of mineralised envelope to 700m
• Best intercept in this round of results from drillhole RXRC239: 13m @ 60.49g/t Au from 177m, including 4m @ 191.56g/t Au from 181m.
• Elsewhere drilling at the Youanmi Gold Project has continued to deliver impressive gold grades with other highlights including:
  • RXRC310: 4m @ 18.53g/t Au from 88m (Grace)
  • RXRC308: 3m @ 22.67g/t Au from 10m (Grace)
  • RXRC305: 3m @ 10.26g/t Au from 107m (Grace North)
  • RXRC312: 3m @ 5.72g/t Au from 217m at EOH (end of hole) (Grace North)

Australian gold and nickel company, Rox Resources Limited (ASX: RXL), in conjunction with its joint venture partner Venus Metals Corporation Limited (ASX: VMC) is pleased to provide an update on exploration activities at Youanmi in the OYG JV area (Rox 70% and Manager).

With the receipt of new drilling results the Company continues to refine its interpretations and exploration model for gold mineralisation that continues to be discovered within the Youanmi Granite. These results confirm that Grace mineralisation is hosted within strongly sheared, fractured and altered granite within a broad mineralised corridor trending NNW. This structural corridor within the Youanmi granite, and its orientation, had not been recognised at Youanmi by previous explorers and miners.

The high-grade intercept in RXRC239 (13m @ 60.49g/t Au) is 550m along strike of, and within the same mineralised structure as, the previously reported intersection of 25m @ 34.79g/t Au in RXRC287 (see ASX announcement on 16 June 2020).

Managing Director Alex Passmore commented: “We are very pleased to report these follow on results from the ongoing Grace Prospect drilling. Mineralisation strike length continues to grow as we conduct step out drilling with impressive grades being encountered. With a combination of infill RC (reverse circulation) and diamond drilling we are well placed to deliver a strong maiden resource for Grace in due course."

--- click on link above for more, including diagrams, charts and photos of core samples from the recent diamond drilling ---

[I don't hold RXL shares.  They'll spike up on days like today, then drift back down in a steady SE direction until the next positive announcement.  OK to trade, as long as they keep finding the good stuff, but not investment grade.]

28-7-2020:  Youanmi Exploration Update

23-June-2020:  Youanmi (Grace) Shallow Drilling Delivers More High Grades

Highlights:

Shallow infill drilling returns more high gold grades:

• RXRC266: 4m @ 88.81g/t Au from 27m (Grace)
  • Including: 2m @ 176.03g/t Au from 28m
• RXRC260: 11m @ 18.75g/t Au from 8m (Grace)
  • Including: 3m @ 61.27g/t Au from 10m
• RXRC268: 9m @ 9.28g/t Au from 9m (Grace)
  • Including: 2m @ 33.53g/t Au from 11m
• RXRC252: 4m @ 7.56g/t Au from 17m (Grace)

Deeper step-out drilling is ongoing with assays still pending for these holes.

____________________________________________________________

Australian gold and nickel company, Rox Resources Limited (ASX: RXL), in conjunction with its joint venture partner Venus Metals Corporation Limited (ASX: VMC) is pleased to report further highgrade gold results from the drilling program currently underway at Youanmi in the OYG JV area.  [OYG = Oz Youanmi (Gold) Pty Ltd;  JV = Joint Venture]

These results relate to RC (reverse circulation) drilling designed to infill drilling coverage (i.e. tighten drill spacing) on the shallow high-grade part of the emerging Grace prospect to facilitate resource estimation.  Deeper results (see ASX release 16 June 2020) are pending.  Around 3,700m has been drilled to date and drilling is ongoing to test depth extensions. 

In relation to the drilling above, assays have been received for 49 holes with assays still outstanding for an additional 15 holes.

--- click on link above for more ---