Rox Resources secures $40M and shifts into high gear with Youanmi Gold Project racing toward development in WA’s Mid West

Rox Resources isn’t just talking about going into development at its high-grade Youanmi Gold Project in WA’s Mid West — it’s doing it.

Backed by a fresh $40 million raise and a mine-building team stacked with operational muscle, Rox is now actively preparing site infrastructure, progressing dewatering works, and pressing ahead with a Definitive Feasibility Study (DFS) slated for completion in late 2025.

Speaking at the RIU Sydney Resources Round-up on 8 May, managing director and CEO Phillip Wilding gave a clear-eyed update: “We’re now in a position where we’re going to start developing the Youanmi Gold Project. The funds are in place, the plan is in motion, and early works are underway”.

Dewatering, Declines and Design Work

Civil works for the refurbishment of evaporation ponds are complete, and pumps are due to fire up before the end of May. Water will initially be drawn from the Main Pit and United North Pit, enabling access to underground portals for development declines.

“This isn’t conceptual — pipes are laid, permits are mostly in place, and we expect to be pumping within weeks,” said Wilding.

Meanwhile, design contracts have been awarded for the tailings storage facility, hydrology and geotechnical studies, and processing plant layout. Core Resources is running final Albion Process™ testwork on flotation concentrate, following earlier comminution and flotation trials that returned strong gold recoveries of 92.6 percent.

Scalable Flowsheet with a Practical Edge

The plant flowsheet is deliberately straightforward: conventional crushing, grinding and flotation, with flotation tails heading to CIL and concentrate feeding an Albion Process™ circuit. Just 15 percent of material requires ultrafine grinding and oxidation — a crucial design element that reduces power intensity and capex.

“This is about building a plant that’s robust, scalable, and proven — not an engineering science fair,” Wilding said.

The DFS plant capacity is currently based on 750ktpa, but Rox is evaluating a potential scale-up to 1Mtpa — a decision that will depend on metallurgical variability, throughput optimisation and the final reserve update due later this year.

High Grade, High Margin, High Confidence

At the core of the project is a serious orebody. The January 2024 Mineral Resource Estimate sits at 16.2Mt @ 4.4g/t for 2.3Moz, with a Probable Reserve of 3.83Mt @ 4.4g/t for 546koz. Historical mining delivered 667koz at an average of 5.4g/t.

The production plan outlined in Rox’s 2024 Pre-Feasibility Study points to a high-margin, sublevel open stoping operation producing over 100koz per year for 7.7 years, at an AISC of A$1,676/oz. At current gold prices (A$3,700/oz+), the free cash flow story looks extremely compelling.

“The top 400 metres of the orebody average 4,000 ounces per vertical metre,” said Wilding. “Even at depth we’re still sitting at 2,000 OVMs. This is a genuine high-grade, high-confidence ore system.”

Drilling Adds Strike and Confidence

A recently completed 35,000m drill campaign targeted near-mine extensions and infill zones, particularly around the Pollard and Youanmi Main areas. The work closed key gaps, validated high-grade plunges, and confirmed additional strike north and south of the historical decline.

“We’re still running two diamond rigs on site,” Wilding said. “We’re not just building a mine — we’re continuing to grow it.”

The updated Mineral Resource Estimate is expected in July, with a DFS to follow in Q4. Underground mining is expected to commence in late 2025, with first gold production in 2026.

Mine Builders, Not Just Planners

Since October 2024, Rox has rebuilt its leadership bench. Wilding himself is a mining engineer with a track record that includes turning around Westgold’s operations. Joining him are GM Operations Oliver Keene (ex-Dora and KOTH), GM Studies Daniel Marchesi, Exploration Manager Andrew Shaw-Stuart, and CFO Greg Hoskins — all with direct mine construction, commissioning, and operational experience.

“There aren’t many juniors with the entire team already in place to build a mine,” Wilding said. “We’ve got the study, the funds, the people, and the plan.”

What to Watch:

• Dewatering pumps to activate by end of May 2025

• MRE update due July 2025

• DFS release scheduled for Q4 2025

• Construction start early 2026

• First gold targeted late 2026

The Bottom Line

The Youanmi Gold Project is moving — and fast. The geology is high-grade, the flowsheet is practical, the team is proven, and the infrastructure is already taking shape. For anyone in mining services, underground development, or gold plant construction, Rox’s path from drillcore to dore is now well and truly underway.