The high-growth precious metals-focused royalty company noted each partner had been busy advancing their respective projects with studies, sampling and drill programs.
Highlights from the exploration update include, the expansion of the Puzzle North discovery at the Australian Ulysses project, a 221% increase in measured and indicated resource at Pitombeiras in Brazil and the commencement of a modern mining study for the potential restart of mining operations at the Lynn Lake nickel-copper-cobalt sulphide project in Canada.
"Yet another month of exciting royalty operator partner newsflow for Vox shareholders relating to discoveries, resource expansions, project financing and ESG best practice,” Riaan Esterhuizen, Vox's executive vice president - Australia said in a statement.
He continued: “We are particularly excited by the exceptional Puzzle North drilling results including 60m @ 3g/t and the Pitombeiras 221% mineral resource increase. Vox investors can look forward to a catalyst-rich H2 2021, including maiden mineral resources for royalty-linked Puzzle North, McTavish and mining studies for Lynn Lake nickel and Pitombeiras."
At the Jangada Mines (LON:JAN) operated Pitombeiras project, exploration potential remains open along strike and at depth. The explorer has established a target to potentially delineate 10 million tons of total mineral resources.
An updated preliminary economic assessment (PEA) is expected in 3Q 2021 following the delivery of the updated mineral resources for both Pitombeiras and the adjacent Goela.
“A resource increase of 200% is uncommon in the mining industry and generally indicates strong momentum in exploration success,” Vox management noted in the statement. “The updated Pitombeiras PEA in Q3 2021 will provide guidance for potential royalty revenue that could commence as early as Q1 2022, based on prior guidance from operator Jangada.”
Data from the Puzzle North drill has expanded the deposit with significant new shallow results including the following drilling highlights, 60 meters (m) with a grade of 3.03 grams per ton(g/t) gold from 106 meters, 84m with a grade of 1.98g/t gold from 84m and 40m with a grade of 2.52g/t gold from 44m.
Vox holds a $1 per ton ore production royalty for the Genesis Minerals Kookynie (Melita) tenements.
The positive drill results prompted Vox management to state; “Puzzle North is shaping up to be an exciting gold discovery and operator guidance suggests that this has the potential to be a new open pit mine, which may be included in the upcoming Ulysses feasibility study. This exploration royalty acquired in 2020 has growing potential to generate revenue for Vox shareholders.”
Additionally, Metalicity (ASX:MCT), a royalty partner, will conduct a capital raising to fund exploration activities at its Western Australia Kookynie gold project.
Karora Resources (TSE:KRR), another Western Australia focused company and producing royalty stream, will partner with The Net Zero company to become one of the world's first net zero greenhouse gas junior gold mining companies.
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