A scoping study for the Youanmi gold project near Mt Magnet in Western Australia has indicated the potential for high returns with low capital and operating costs against industry benchmarks for joint venture partners Venus Metals Corporation and Rox Resources.
The study follows a substantial upgrade to the Youanmi underground resource in January, and a subsequent increase to the near surface resource in April.
It aims to establish the economics and likely development scenarios for the project-wide resource estimate which currently sits at 27.9 million tonnes at 3.57 grams per tonne gold for 3.2 million ounces of contained gold.