Name of the Project
Youanmi gold project.

Location
Near Mt Magnet, in Western Australia.

Project Owner/s
Rox Resources.

Project Description
Youanmi has a project-wide resource of 27.9-million tonnes at 3.57 g/t gold for 3.2-million ounces of contained gold.

The proposed mine will have a plant throughput of 480 000 t/y, with average gold production of about 71 000 oz/y and a gold head grade of 5 g/t gold for total gold production of about 569 000 oz over an eight-year life-of-mine.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated unleveraged and pretax net present value, at a 5% discount rate, of $303-million and an internal rate of return of 45%, with a payback of three years.

Capital Expenditure
$134-million.

Planned Start/End Date
Not stated.

Latest Developments
Rox Resources will raise A$7-million to fund exploration at its Youanmi gold project.

The company has received binding commitments for the placement of 35-million new shares at 20c each, with the shares to be placed under Rox’s existing placement capacity.

Both of Rox’s major shareholders have participated in the placement, with Hawke’s Point and Venus Metals Corporation subscribing for A$1.49-million and A$0.25-million in new shares respectively, subject to shareholder approval at a meeting scheduled for late November.

“This is testament to the quality and significant potential of our key asset, the Youanmi gold project, and reflects the excellent work we have completed this year,” Rox MD Robert Ryan has said.

An in-depth targeting process is under way over the consolidated regional tenure that incorporates all available geochemical data and new geophysical targets that extend from north of the Youanmi mine area to well south of the high-grade Penny West gold mine.

“With the in-fill drilling already conducted this year, we’re well positioned to update the mineral resources estimate, which will provide the basis for the prefeasibility study of a mine restart.” 

Key Contracts, Suppliers and Consultants
Lynn Widenbar and Associates, CSA Global, Geobase and Model Earth (geology); PGM Geotechnical, Turner Mining and Geotechnical, Rockwater, SRK Consulting and APEG Mining (mining – technical studies); IMO, OMC, ALS, Core Technologies and Como Engineers (metallurgy and processing); KPS, Como Engineers, Maca Interquip, Novatron, Grounded, Northern Rise, Skipper Aviation, PPS (cost modelling); and Ecospine, Clark Lindbeck, Native Vegetation Solutions, Terratree, Western Ecological, AHA Logic, Terra Rosa, ESG Capital and Mine Earth (heritage and environment).

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