Rox Resources Limited (ASX: RXL) has reached a pivotal milestone in the Rox Resources Youanmi development, completing dewatering of the Main Pit at the 100%-owned Youanmi Gold Mine in Western Australia. The announcement, released on 7 May 2026, confirmed the pit floor is now visible, and the historic Main Decline has been exposed.
Figure 1: Youanmi Main Pit fully dewatered as Rox Resources advances underground development at the Youanmi Gold Mine [Courtesy: Rox Resources]
The transition to underground dewatering is now underway through an initial borehole ahead of mining at the Main and Pollard declines. This Youanmi Gold Mine update marks the beginning of what the Company describes as its second underground mining operation at the Project, with development expected to commence imminently on both decline portals.
Main Pit Dewatering Completed Ahead of Portal Development
Rox Resources confirmed that pumping at the Main Pit has reached its limit, with pit levels maintained as low as possible. Pumping operations have now transitioned to dewatering the underground workings through an initial borehole.
The underground dewatering gold mine phase is a key prerequisite before development machinery can access the Main and Pollard portals.
Figure 2: Initial underground dewatering setup at Youanmi ahead of Main and Pollard decline development [Courtesy: Rox Resources]
Managing Director and CEO Phill Wilding stated, “Completing the first phase of dewatering the Main Pit is a massive achievement and the next significant step in our development of the Youanmi Gold Mine.”
Portal Access and Preparation Works Well Advanced
Works to re-establish access to the pit floor are progressing steadily as part of the Rox Resources Youanmi development programme. The following preparatory works are noted in the 7 May 2026 announcement:
- Ramp sheeting at the pit floor is progressing
- New access to both the Main Portal and Pollard Portal is being prepared
- Face protection mesh has been installed in preparation for the development of the jumbo
- The Main and Pollard temporary power station has been installed and is ready for commissioning, pending power cable installation into the pit
- Development on both declines is anticipated to commence in late May 2026, with machinery due on-site mid-month
Figure 3: Historic Main Portal exposed following completion of Main Pit dewatering at Youanmi [Courtesy: Rox Resources]
United North Sets a Record Month of Mine Development
At the United North underground mine, the Youanmi Gold Mine update confirmed a record 342 metres of advance completed in April 2026. This was achieved with only a single development jumbo on-site and is well ahead of the advance rates predicted in the Definitive Feasibility Study. The result reinforces the operational momentum building across the Rox Resources Youanmi development.
Phill Wilding commented: “United North development continues to power ahead, with a record 342m of advance for the month, along with successfully firing the first return air rise in the ventilation circuit.”
First Ventilation Rise Fired and Ore Lode Intersected
Key operational milestones were achieved at United North during April and into May 2026:
- The first section of the return airway, forming the primary ventilation circuit, was successfully fired
- The next extension to the ventilation rise is due in the coming week
- Primary ventilation fans are to be installed later in the month to increase airflow and remove mining restrictions
- Face sampling at the 2341mRL level access of the first ore lode returned results in line with model expectations
- The first ore lode maintained a mining width of 2.20 metres grading above 4.99g/t Au, including 0.50 metres at 8.32g/t Au along the footwall contact
- The second ore lode in the 2341mRL level access has also been crosscut, with mapping and sampling completed and assay results pending
- Ore drive development and ore stockpile building are planned to commence shortly
Figure 4: Mapped interpretation of the second ore lode at the United North 2341mRL south wall crosscut [Courtesy: Rox Resources]
Processing Plant Earthworks Commence Following Regulatory Approval
Following approval of the Mine Development and Closure Proposal, contractors have mobilised to the site and commenced bulk earthworks for the processing plant facilities.
Figure 5: Bulk earthworks and first pad construction underway at the Youanmi processing plant site [Courtesy: Rox Resources]
Interquip is expected to mobilise to the Youanmi Gold Mine site in late May 2026, ahead of construction commencing in June. The earthworks represent a significant step forward in the Rox Resources Youanmi development timeline.
Phill Wilding noted: “We’ve also made major progress with supporting infrastructure at Youanmi, with the power station for Main Pit ready for commissioning this month and earthworks at the processing plant site underway ahead of construction starting in June.”
Major Contracts Awarded to Support the Youanmi Gold Mine Build
Significant contract milestones have been reached as part of the broader Rox Resources Youanmi development programme. These underpin the pathway to production and reflect the scale of activity now underway at the Project:
- Pacific Energy Pty Ltd has been engaged as the preferred contractor for a Build Own Operate power station, planned to include 27MW in thermal power, 26MWdc in solar power capacity, and a 9.3MVA battery for dynamic support
- Lambron Contracting Pty Ltd has been awarded the bulk earthworks contract, having mobilised on-site during April 2026
- The contract for supply, licensing, and support of the Ultrafine Grind and Albion Process has been executed with Glencore Technology Pty Limited, with all long lead items ordered and well advanced
- K-Drill Pty Ltd has been engaged as the preferred underground diamond drill contractor, with the first machine due on-site to commence infill drilling in May 2026
- Other contracts, including the EPC contract with Interquip, the oxygen supply contract, and the gas supply contract, are continuing to be progressed
Pathway to Production Remains On Track
The Rox Resources Youanmi development pathway to production remains on schedule. The Company confirmed the following milestones in the 7 May 2026 Youanmi Gold Mine update:
- Definitive Feasibility Study released in November 2025
- A$200 million placement plus A$18 million Share Purchase Plan completed in December 2025 to finalise equity funding
- A$350 million debt financing facility secured in March 2026
- Mine Development and Closure Proposal approval received for processing plant, tailings, and associated infrastructure in March 2026
- Final Investment Decision approved by the Board in March 2026
- Dewatering at Main Pit completed, with transition to underground dewatering gold mine operations now underway
- Infill drilling commenced on the upper United North levels from the surface
- Interquip is progressing with detailed processing plant design and ordering of long lead items
Figure 6: Production timeline outlining development milestones and pathway to first gold at Youanmi [Courtesy: Rox Resources]
RXL ASX Share Price
Rox Resources Limited (ASX: RXL) is currently trading at A$0.440 per share, with a market capitalisation of A$618.44 million. The 52-week range stands at A$0.270 to A$0.615 per share.
Figure 7: Rox Resources (ASX: RXL) one-year share price performance [Courtesy: ASX]
Industry Outlook
Western Australia continues to be one of the world’s most active jurisdictions for high-grade gold development.
With gold prices remaining high and institutional interest in emerging producers growing, companies advancing shovel-ready projects with defined resources and secured funding are drawing significant market attention.
The Youanmi Gold Mine, with a global mineral resource of 12.1 million metric tons at 5.6g/t for 2.2 million ounces of gold, sits firmly within this category.
Future Direction and Impact on RXL Investors
The next key milestones for the Rox Resources Youanmi development are:
- Commence development on Main and Pollard declines in late May 2026
- Continue development at United North and begin building the ore stockpile
- Commence processing plant construction in June 2026-
- First machine from K-Drill to arrive and commence underground diamond drilling in May 2026
- Continue defining near-mine and regional targets using the recent airborne magnetic survey data
- Continue review and award of further major contracts
- Continue detailed mine planning and scheduling ahead of ramp-up
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Frequently Asked Questions
Q1. What happened at the Youanmi Gold Mine on 7 May 2026?
Ans. Rox Resources announced the completion of Main Pit dewatering at the Youanmi Gold Mine, with underground dewatering now underway ahead of development at the Main and Pollard declines.
Q2. What is the underground dewatering gold mine phase at Youanmi?
Ans. Pumping has transitioned from the pit to the underground workings via an initial borehole. This prepares the declines for development machinery, which is expected on-site in mid-May 2026.
Q3. What did United North achieve in April 2026?
Ans. United North recorded 342 metres of mine development advance in April 2026, a record for the Project, with a single development jumbo on-site. The first ore lode returned results in line with model expectations.
Q4. When does construction at the processing plant begin?
Ans. Bulk earthworks have commenced following regulatory approval. Interquip is expected to mobilise to the site in late May 2026, with construction starting in June 2026.
Q5. What is the total resource at the Youanmi Gold Project?
Ans. The Youanmi Gold Project hosts a global mineral resource of 12.1 million metric tons at 5.6g/t for 2.2 million ounces of gold, and is 100% owned by Rox Resources.
Disclaimer
This article is intended for informational purposes only and does not constitute financial or investment advice. All content is based on the ASX announcement released by Rox Resources Limited on 7 May 2026 (ASX: RXL). Share price and market capitalisation data reflect figures provided at the time of publication. Investing in securities involves risk, including the possible loss of principal. Readers should conduct their own research and seek independent financial advice before making any investment decisions. Colitco does not hold any position in the companies or organisations mentioned.
