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Youanmi gold project, Australia – update

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2nd February 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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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 has updated the mineral resource estimate, confirming Youanmi as one of the highest-grade emerging gold projects in Australia.

Youanmi has a total resource of 2.3-million ounces at 4.4 g/t gold.

The new estimate has delivered a 20% increase in the overall indicated resource to 1.56-million ounces at 4.5 g/t gold and a 48% increase in the underground indicated resource to 1.1-million ounces at 6.1 g/t gold.

"Internally, we targeted a conversion of 200 000 oz to 300 000 oz of inferred to indicated resources and this update has delivered an increase in the underground indicated resource of 359 000 oz, providing an exceptional foundation for the upcoming prefeasibility study (PFS),” MD Robert Ryan as said.

Studies are under way and that the PFS will be completed in June 2024.

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.

Edited by Creamer Media Reporter

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