Youanmi

About Youanmi

Youanmi is a historic gold mining center in Western Australia, located approximately 480 kilometers northeast of Perth. Gold was first discovered in the area in 1894, leading to intermittent mining operations from 1908 until 1997, when the mine was closed due to low gold prices and placed on care and maintenance. Over its operational history, the Youanmi mine produced approximately 667,000 ounces of gold.

The project is situated in the Youanmi Greenstone Belt, a premier gold province within the Archaean Yilgarn Craton. The geology consists of a greenstone succession intruded by the Youanmi Granite, with gold mineralization hosted in splays off the major Youanmi Shear Zone. The Youanmi project also hosts a significant vanadium-titanium-iron resource within the Youanmi Intrusive Complex.

In 2019, Rox Resources (ASX: RXL) and Venus Metals Corporation (ASX: VMC) entered into a joint venture to acquire and redevelop the mine. Rox Resources now holds 100% ownership of the Youanmi Gold Project after acquiring VMC's remaining share. The company is focused on a three-pronged strategy of exploring the main Youanmi deposits, near-mine exploration, and regional targets. The business model centers on developing the project to become a high-grade gold producer, leveraging existing infrastructure, including a decline and open pits. Revenue will be generated from the sale of gold doré produced through a planned 750,000 tonnes per annum processing plant. The metallurgical process will use a combination of flotation, the Albion Process™, and conventional CIL leaching to achieve high recovery rates for the sulphide-associated ore.

A 2024 pre-feasibility study highlighted the project's strong economics, with a production target of 786,000 ounces over a nearly 8-year mine life. The company is advancing towards a Definitive Feasibility Study, with first gold production targeted for 2027. Leadership includes CEO Phillip Wilding, an experienced mining executive appointed in 2024.