Grace's gold looks to be getting bigger for Rox

AN extension of the high-grade Grace prospect is on the cards for Rox Resources after drilling at the Youanmi exploration project hit 8m grading 19.9 grams per tonne gold from 68m.
 Grace's gold looks to be getting bigger for Rox  Grace's gold looks to be getting bigger for Rox  Grace's gold looks to be getting bigger for Rox  Grace's gold looks to be getting bigger for Rox  Grace's gold looks to be getting bigger for Rox

Youanmi, WA

The hit was made 100m south of the previous known extent of Grace, with further results pending.

The targeting for Rox's drilling is based on a re-interpretation of the structural controls on mineralisation following work campaigns undertaken in 2020. 

RC drilling is continuing.

A new resource estimate is due this year, with feasibility work also planned.

Additionally, diamond core drilling is planned after problems with a previous contractor last year.  

Funding for the work was confirmed earlier this month when gold growth company backer Hawke's Point bought an 13% stake in Rox for A$11 million.

That investment took Rox's treasury (including receivables) to circa-$20 million.

Shares in Rox were up 10% to 4.4c in afternoon trade, capitalising the company at $90 million.