Proactiveinvestors Australia Rox Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Rox Resources Ltd RSS feed en Tue, 16 Jul 2019 20:20:51 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Rox Resources extends shallow gold mineralisation in first-phase drilling at Mt Fisher Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/223977/rox-resources-extends-shallow-gold-mineralisation-in-first-phase-drilling-at-mt-fisher-gold-project-223977.html Rox Resources Limited (ASX:RXL) has completed the first phase of drilling at its 100%-owned Mt Fisher Gold Project with results indicating a thick zone of shallow gold mineralisation at the western edge of the Dam prospect.

The 19-hole reverse circulation (RC) program drilled for 2,751 metres and returned encouraging gold results from the Dirks and Damsel South prospects.

Further assays are pending from follow-up RC drilling as well as aircore results from two new prospects.

READ: Rox Resources completes series of Youanmi Gold Project transactions

Highlighted results included:

8 metres at 1.86 g/t gold from 92 metres at the Dirks prospect;

4 metres at 1.56 g/t from 36 metres and 4 metres at 2.93 g/t from 52 metres at the Dam prospect; and

16 metres at 1.74 g/t from 56 metres also at the Dam prospect.

READ: Rox Resources drills high-grade gold in first program at Currans Find

Drilling intersected gold mineralisation at the Dam prospect which is open to the west and to the south.

The mineralisation extends from surface to about 60 metres down and remains open.

Rox has extended its drilling program to target extensions and test the continuity of mineralisation after the positive results for which results are pending.

Two new gold prospects, Western Gravity Flexure and Bungarra, were delineated during the current field program and recently tested with aircore drilling, with assays pending.

READ: Rox Resources spins drill bit for gold at Mt Fisher

Rox has a substantial holding in the Mt Fisher greenstone belt, host to gold and nickel mineralisation, in the north-eastern Yilgarn Craton.

Mt Fisher gold mineralisation is typicadl of greenstone-hosted Archean lode gold, with primary controls lithology, structure and weathering.

The project is under-explored as a deep weathering profile obscures much of the basement structure rendering historical soil sampling and RAB drilling ineffective.

Rox believes potential for a large gold deposit beneath the near-surface gold anomalism is strong, but exploration drilling below the oxide zone is sparse.

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Tue, 16 Jul 2019 03:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/223977/rox-resources-extends-shallow-gold-mineralisation-in-first-phase-drilling-at-mt-fisher-gold-project-223977.html
<![CDATA[News - Rox Resources managing director shows faith in company with on-market share purchase ]]> https://www.proactiveinvestors.com.au/companies/news/223003/rox-resources-managing-director-shows-faith-in-company-with-on-market-share-purchase-223003.html Rox Resources Ltd (ASX:RXL) managing director Alexander Passmore has shown confidence in the company with the purchase of shares in an on-market transaction.

Passmore acquired 3 million shares on June 27 for total consideration of $42,000 bringing the total number of shares held to 32 million.

The company's shares traded up to 1.5 cents today.

READ: Rox Resources completes series of Youanmi Gold Project transactions

Earlier this week the company completed a series of transactions relating to the Youanmi Gold Project in Western Australia and took over management of the Youanmi mine site.

Rox now plans to start drilling immediately in the vicinity of the mine targeting extensions of known oxide gold mineralisation.

Drilling programs are aimed at building the current gold in resource inventory from 12.4 million tonnes at 2.97 g/t gold for more than 1.19 million ounces.

READ: Rox Resources and partner Venus Metals complete Youanmi settlement

The transactions include four separate joint ventures established between Rox and Venus Metals Corporation (ASX:VMC) – the OYG JV, Venus JV, Youanmi JV and Currans Find & Pincher JV.

Last month Passmore made three purchases of Rox shares.

At the beginning of May he acquired 1.75 million shares with a subsequent purchase of another 3 million shares valued at $30,036.

He followed this up with a further 10 million shares with a total value of $100,120.

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Fri, 28 Jun 2019 13:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/223003/rox-resources-managing-director-shows-faith-in-company-with-on-market-share-purchase-223003.html
<![CDATA[News - Rox Resources completes series of Youanmi Gold Project transactions ]]> https://www.proactiveinvestors.com.au/companies/news/222627/rox-resources-completes-series-of-youanmi-gold-project-transactions-222627.html Rox Resources Limited (ASX:RXL) has completed a series of transactions relating to the Youanmi Gold Project in Western Australia and has taken over management of the Youanmi mine site.

Following the completion, Rox plans to start drilling immediately in the vicinity of Youanmi mine designed to target the extension of known oxide gold mineralisation.

The transactions include four separate joint ventures established between Rox and Venus Metals Corporation (ASX:VMC) - the OYG JV, Venus JV, Youanmi JV and Currans Find & Pincher JV.

Drilling programs are aimed at building the current gold in resource inventory from 12.4 million tonnes at 2.97 g/t gold for more than 1.19 million ounces.

READ: Rox Resources and partner Venus Metals complete Youanmi settlement

Last week Rox Resources completed its initial 50% interest in the Youanmi Gold Mine settlement with Venus receiving $2.55 million as well as 25 million ordinary fully paid shares.

Rox is required to meet exploration expenditure of $2 million over the following two years and to cover the costs of holding and managing the project.

At any point up until June 2021 after having met these obligations, Rox may elect to move to 70% ownership of the OYG JV through payment of $3 million in cash and shares to Venus.

READ: Rox Resources drills high-grade gold in first program at Currans Find

Rox is focused on targeting the following prospects in upcoming drilling to identify additional near-surface oxide resources:

Commonwealth – 4 kilometres northwest of the Youanmi plant with gold mineralisation from surface and hosted with a 3 metre to 10-metre-wide zone of sheared quartz veining and highly altered mafic volcanic rocks; and Plant Zone – an undeveloped extensive resource comprising gold mineralisation and associated stockworks of quartz-veining within granite with additional exploration potential for new zones of mineralisation surrounding the Plant Zone. Bonanza grade Currans Find North results

Rox is highly encouraged by bonanza grade results receiving by Venus at the Currans Find North joint venture project, which is part of the Youanmi Gold Project.

Re-sampling of recent reverse circulation results as one-metre samples has revealed bonanza grades of up to 72.67 g/t and 25.38 g/t/.

These results are:

1 metre at 72.67 g/t from 39 metres within a wider intersection of 3 metres at 27.5 g/t from 39 metres; and 1 metre at 25.38 g/t from 61 metres within a wider intersection of 2 metres at 13.34 g/t from 61 metres.

 

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Mon, 24 Jun 2019 13:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222627/rox-resources-completes-series-of-youanmi-gold-project-transactions-222627.html
<![CDATA[News - Rox Resources and partner Venus Metals complete Youanmi settlement ]]> https://www.proactiveinvestors.com.au/companies/news/222554/rox-resources-and-partner-venus-metals-complete-youanmi-settlement-222554.html Rox Resources Limited (ASX:RXL) and partner Venus Metals Corporation Limited (ASX:VMC) have completed settlement of the Youanmi Gold Mine (OYG JV) in Western Australia.

Venus Metals has received $2.55 million from Rox Resources and has been issued 25 million ordinary fully paid shares.

Venus has exercised two options to complete the acquisition of the Youanmi Gold Mine.

After the settlement of the acquisition of Youanmi, four separate JVs have been formally formed in various ways between Venus Metals and Rox Resources.

READ: Rox Resources drills high-grade gold in first program at Currans Find

Venus Metals managing director Matthew Hogan said: “We are very pleased to complete settlement of the Youanmi Gold Mine option.

“The gold mine itself with its substantial gold resources and infrastructure was the last major piece needed to complete our tenement consolidation over the Youanmi greenstone belt.

“With our new joint venture partner in place the necessary drilling and exploration to advance the project is set for the next two years.”

READ: Rox Resources spins drill bit for gold at Mt Fisher

Rox has the obligation to spend $2 million on drilling and ground exploration expenditure within two years to complete its 50% ownernship.

The company can increase its stake in the OYG JV on or before June 30, 2021, after the obligation to spend has been met by acquiring an additional 20% from Venus for a further payment of $3 million in cash.

A 14,500-metre reverse circulation drilling program is expected to begin in early July with multiple targets having been identified to confirm and expand near-surface oxide resources.

Settlement of the Youanmi Gold Mine acquisition also initiates the formal formation of three regional exploration joint ventures - the Venus JV, Youanmi JV and Currans Find JV.

READ: Rox Resources commences drilling at Currans Find

In the Youanmi and Currans Find JVs Rox is earning a 45% gold rights interest on tenements with Venus being manager of the two projects.

Once Rox has earned its 45% interest, Venus and Rox contribute equally to the Youanmi JV and there is no option to increase the stake.

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Fri, 21 Jun 2019 15:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222554/rox-resources-and-partner-venus-metals-complete-youanmi-settlement-222554.html
<![CDATA[News - Rox Resources drills high-grade gold in first program at Currans Find ]]> https://www.proactiveinvestors.com.au/companies/news/222020/rox-resources-drills-high-grade-gold-in-first-program-at-currans-find-222020.html Rox Resources Ltd (ASX:RXL) and its joint venture partner Venus Metals ASX(:VMC) have received their first set of drill results from Currans Find within the Youanmi Gold Project in Western Australia.

The 25-hole reverse circulation (RC) program targeted two prospects – Currans Find North, and the Red White and Blue Workings.

Highlights from Currans Find North include 6 metres at 9.82 g/t gold from 36 metres and 4 metres at 5.72 g/t gold from 60 metres.

Highlights from the Red White and Blue Workings include 1-metre at 10.79 g/t gold from 25 metres at 4 metres at 4.81 g/t gold from 36 metres.

The results from these two prospects demonstrates continuity of high-grade gold mineralisation along strike and, particularly, down plunge.

READ: Rox Resources commences drilling at Currans Find

The Youanmi Gold Project hosts a 1.19 million-ounce JORC-compliant resource grading 2.97 g/t gold.

Notably, the historical mine at the project ceased operation in 1997 when the gold price was just above $400 per ounce.

READ: Rox Resources spins drill bit for gold at Mt Fisher

Rox recently commenced a substantial drilling program at its  Mt Fisher Gold Project located in the north eastern Yilgarn Craton of Western Australia.

The 8,000-metre reverse circulation (RC) and aircore drilling program will run for five weeks.

Drilling is targeting shear zone hosted gold mineralisation in mafic or ultramafic bedrock delineated by earlier shallower drilling.

The Mt Fisher Proejct is located a region featuring a number of million+ ounce gold deposits.

Rox delineated an 89,095-ounce gold deposit grading 2.70 g/t gold in July 2018 at Mt Fisher that this drilling intends to expand.

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Thu, 13 Jun 2019 12:02:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222020/rox-resources-drills-high-grade-gold-in-first-program-at-currans-find-222020.html
<![CDATA[News - Rox Resources spins drill bit for gold at Mt Fisher ]]> https://www.proactiveinvestors.com.au/companies/news/221833/rox-resources-spins-drill-bit-for-gold-at-mt-fisher-221833.html Rox Resources Ltd (ASX:RXL) has commenced a substantial drilling program at the Mt Fisher Gold Project located in the north eastern Yilgarn Craton of Western Australia.

The 8,000-metre reverse circulation (RC) and aircore drilling program will run for five weeks.

Drilling is targeting shear zone hosted gold mineralisation in mafic or ultramafic bedrock delineated by earlier shallower drilling.

Rox delineated an 89,095-ounce gold deposit grading 2.70 g/t gold in July 2018 at Mt Fisher that this drilling intends to expand.

READ: Rox Resources CEO and MD buys 10 million shares on-market

The Mt Fisher Proejct is located a region featuring a number of million+ ounce gold deposits.

Aircore drilling completed in late 2017 comprising 117 holes for 7,322 metres returned strong results and has helped define RC gold targets at Mt Fisher.

The new targets were identified at Damsel South and existing targets were confirmed and upgraded at Dirks and Shiva prospects.

READ: Rox Resources commences drilling at Currans Find

The Mt Fisher drill program follows a recently commenced 1,200-metre RC drill program at the Currans Find prospect within the Youanmi Gold Project in Western Australia.

The Youanmi Gold Project hosts a 1.19 million-ounce JORC-compliant resource grading 2.97 g/t gold.

Notably, the historical mine at the project ceased operation in 1997 when the gold price was just above $400 per ounce.

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Tue, 11 Jun 2019 12:36:00 +1000 https://www.proactiveinvestors.com.au/companies/news/221833/rox-resources-spins-drill-bit-for-gold-at-mt-fisher-221833.html
<![CDATA[News - Rox Resources commences drilling at Currans Find ]]> https://www.proactiveinvestors.com.au/companies/news/220998/rox-resources-commences-drilling-at-currans-find-220998.html Rox Resources Ltd (ASX:RXL) has commenced a 1,200-metre reverse circulation (RC) drill program at the Currans Find prospect within the Youanmi Gold Project in Western Australia.

Drilling will focus on two main gold prospects Currans North, and Red White and Blue Middle Workings.

In addition, shallow RC drilling is also planned at the Taylor’s Reef discovery where recent shallow excavation and trenching uncovered strongly gold-mineralized vein quartz.

READ: Rox Resources discovers gold in reef at Currans Find

The Youanmi Gold Project, which hosts a 1.19 million-ounce JORC-compliant resource grading 2.97 g/t gold, is in the Murchison region of Western Australia and comes with a historical database of 550,000 metres of drilling.

The mine ceased operation in 1997 when the gold price was just above $400 per ounce.

READ: Rox Resources CEO and MD buys 10 million shares on-market

Notably, the Currans Find prospect is on a granted mining lease that historically produced high-grade gold grading 13 g/t.

Rox and Venus have recently gained access to over 600 square kilometres of tenure along the Youanmi Greenstone Belt.

 

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Tue, 28 May 2019 12:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220998/rox-resources-commences-drilling-at-currans-find-220998.html
<![CDATA[News - Rox Resources CEO and MD buys 10 million shares on-market ]]> https://www.proactiveinvestors.com.au/companies/news/220371/rox-resources-ceo-and-md-buys-10-million-shares-on-market-220371.html Rox Resources Limited (ASX:RXL) managing director and CEO Alex Passmore continues to show his confidence in the company's gold strategy with on-market share transactions.

On Wednesday Passmore purchased a further 10 million shares with a total value of $100,120, increasing his holding to 29 million fully paid shares.

READ: Rox Resources CEO and MD buys 3 million shares on market

This marks Passmore’s third purchase this month after acquiring 3 million shares valued at $30,036 earlier this week as well as 1.75 million shares at the beginning of the month.

Following the retirement of Rox’s inaugural managing director Ian Mulholland, Passmore was appointed as managing director of the company.

Since his appointment he has negotiated the recent acquisition of the Youanmi Gold Project and surrounding joint ventures.

READ: Rox Resources appoints CEO Alex Passmore as managing director

The Youanmi Gold Project, which hosts a 1.19 million-ounce JORC-compliant resource grading 2.97 g/t gold, is in the Murchison region of Western Australia and comes with a historical database of 550,000 metres of drilling.

The mine ceased operation in 1997 when the gold price was just above $400 per ounce.

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Thu, 16 May 2019 12:09:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220371/rox-resources-ceo-and-md-buys-10-million-shares-on-market-220371.html
<![CDATA[News - Rox Resources CEO and MD buys 3 million shares on market ]]> https://www.proactiveinvestors.com.au/companies/news/220087/rox-resources-ceo-and-md-buys-3-million-shares-on-market-220087.html Rox Resources Ltd (ASX:RXL) managing director and CEO Alex Passmore has purchased 3 million shares in the company through on-market trades.

The $30,036 purchase increases his overall holding in the company to 19 million shares aligning him well with shareholders.

Notably, the buying follows his recent 1.75-million share purchase.

READ: Rox Resources new MD acquires shares in on-market transaction

Rox recently confirmed a 1.19-million-ounce JORC-compliant resource grading 2.97 g/t gold at the Youanmi Gold Project in Western Australia.

In an investor presentation last week, Rox outlined its plans to undertake an aggressive near-mine exploration program and pre-development work at Youanmi.

The Youanmi Mining Centre produced 670,000 ounces at 5.4 g/t gold and was closed in 1997 when gold price was A$400-450 per ounce versus today’s price of around A$1,800 per ounce.

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Mon, 13 May 2019 11:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220087/rox-resources-ceo-and-md-buys-3-million-shares-on-market-220087.html
<![CDATA[News - Rox Resources new MD acquires shares in on-market transaction ]]> https://www.proactiveinvestors.com.au/companies/news/219709/rox-resources-new-md-acquires-shares-in-on-market-transaction-219709.html Rox Resources Limited (ASX:RXL) newly appointed managing director Alex Passmore has shown his faith in the company’s strategy of seeking near-term development assets through acquiring shares on-market.

Passmore acquired 1.75 million shares in an on-market transaction on May 3 valued at $17,500 and now holds 16 million shares.

READ: Rox Resources appoints CEO Alex Passmore as managing director

Last week the company appointed the former CEO as its new managing director, replacing Ian Mulholland who has retired.

Passmore is an experienced corporate executive and since his recent appointment to Rox has sourced and negotiated the acquisition of the Youanmi Gold Project and surrounding joint ventures.

“New era for Rox”

Last week chairman Stephen Dennis said: “The appointment of Alex as managing director heralds the beginning of a new era for Rox and I am certain we have an exciting time ahead of us.

“Under Alex’s stewardship we have already taken a significant step with the acquisition at Youanmi and we are able to look to the future with confidence.”

READ: Rox Resources confirms 1.19 million ounce gold resource at Youanmi

The company recently confirmed a 1.19-million-ounce JORC-compliant resource grading 2.97 g/t gold at the Youanmi project in Western Australia.

Rox made a play for the project after it recently entered a binding term sheet with Venus Metals Corporation Ltd (ASX:VMC) that results in three JVs being formed around the historical Youanmi mine.

READ: Rox Resources discovers gold in reef at Currans Find

The partners also recently discovered a near-surface gold-mineralised quartz reef at the Taylor’s Reef prospect within the Currans Find JV Mining Lease.

Almost no historical drilling has taken place in the area of the discovery and it therefore forms a high-priority target for the upcoming drilling program.

This lease adjacent to Youanmi is one of those part of the recent agreement between Rox and Venus.  

An initial reverse circulation drilling program will test Taylor’s Reef as soon as approvals are in place.

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Mon, 06 May 2019 15:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219709/rox-resources-new-md-acquires-shares-in-on-market-transaction-219709.html
<![CDATA[News - Rox Resources appoints CEO Alex Passmore as managing director ]]> https://www.proactiveinvestors.com.au/companies/news/219430/rox-resources-appoints-ceo-alex-passmore-as-managing-director-219430.html Rox Resources Limited (ASX:RXL) has appointed chief executive officer Alex Passmore as managing director of the company, replacing Ian Mulholland who has retired.

Passmore holds a Bachelor of Science degree with first class honours in geology from the University of Western Australia and a graduate diploma of Applied Finance from the Securities Institute of Australia.

He is an experienced corporate executive and since his appointment has sourced and negotiated the recent acquisition of the Youanmi Gold Project and surrounding joint ventures.

READ: Rox Resources discovers gold in reef at Currans Find

Rox’s chairman Stephen Dennis said: “The appointment of Alex as managing director heralds the beginning of a new era for Rox and I am certain we have an exciting time ahead of us.

“Under Alex’s stewardship we have already taken a significant step with the acquisition at Youanmi and we are able to look to the future with confidence.”

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Wed, 01 May 2019 15:29:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219430/rox-resources-appoints-ceo-alex-passmore-as-managing-director-219430.html
<![CDATA[News - Rox Resources discovers gold in reef at Currans Find ]]> https://www.proactiveinvestors.com.au/companies/news/218910/rox-resources-discovers-gold-in-reef-at-currans-find-218910.html Rox Resources Ltd's (ASX:RXL) partner Venus Metals Corporation Ltd (ASX:VMC) has discovered a near-surface gold-mineralised quartz reef at the Currans Find JV Mining Lease.

Almost no historical drilling has taken place in the area of the discovery and it therefore forms a high‐priority target for the upcoming drilling program.

Rox and Venus recently entered an agreement to acquire a 90% interest in the mining lease, which is in the vicinity to the Youanmi Gold Project.

READ: Rox Resources confirms 1.19 million ounce gold resource at Youanmi

The historical data base shows 333 holes for 14,152 metres have been drilled at Currans Find.

An initial reverse circulation (RC) program will test theTaylor’s Reef target area for high‐grade gold mineralisation. 

Drilling will start as soon as all approvals are in place.

 

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Tue, 23 Apr 2019 11:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218910/rox-resources-discovers-gold-in-reef-at-currans-find-218910.html
<![CDATA[News - Rox Resources confirms 1.19 million ounce gold resource at Youanmi ]]> https://www.proactiveinvestors.com.au/companies/news/218731/rox-resources-confirms-119-million-ounce-gold-resource-at-youanmi-218731.html Rox Resources Ltd (ASX:RXL) has confirmed a 1.19 million ounce JORC-compliant resource grading 2.97 g/t gold at the Youanmi Gold Project in Western Australia.

Rox is making a play for the historical Youanmi Gold Project after it recently entered a binding term sheet with Venus that results in three joint ventures being formed around the historical Youanmi gold mine.

The project comes with a historical database of 550,000 metres of historical drilling that has been analysed to confirm the JORC resource.

READ: Rox Resources enters deal to acquire two mining leases at Youanmi

The JORC resource comprises an estimate for the near-surface deposits at the historical mine which measured 532,700 ounces grading 1.65 g/t (50% Indicated, 50% Inferred).

The near-surface deposits consist of the Youanmi Main Pit, the Youanmi 4 Pits Area, Commonwealth, the Plant Zone Deposits and the Palaeo-channel Deposits

The balance of the resource is known as Youanmi Deeps and measures 657,900 ounces grading 8.5 g/t gold (32% Indicated, 68% Inferred).

Youanmi Deeps forms the deeper extensions of gold mineralisation in the Youanmi Main Zones (Pollard, Main and Hill End).

These three zones are contiguous and are situated within the main Youanmi Gold Project area.

 

Map showing deposit locations

Drilling database reveals several drill targets

The extensive drilling database has resulted in several prospects presenting as priority drill targets with potential to identify additional near-surface oxide resources.

These targets can be classified as:

1) Undeveloped open-pit resources;
2) Open pit extensions and/or cut-backs; and
3) Other near surface resources.

There are significant undeveloped open-pit resources at the Commonwealth and Connemara Deposits, the Plant Zone and Paleochannel Zone.

Historical intersections from these targets include 59 metres at 3.7 g/t gold from 1-metre depth and 29 metres at 12.9 g/t gold from 51 metres.

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Wed, 17 Apr 2019 12:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218731/rox-resources-confirms-119-million-ounce-gold-resource-at-youanmi-218731.html
<![CDATA[News - Rox Resources enters deal to acquire two mining leases at Youanmi ]]> https://www.proactiveinvestors.com.au/companies/news/218532/rox-resources-enters-deal-to-acquire-two-mining-leases-at-youanmi-218532.html Rox Resources Ltd (ASX:RXL) has entered a purchase agreement to acquire jointly with Venus Metals Limited (ASX:VMC) a combined 90% interest in ML 57/641 and ML 57/642.

Notably, ML 57/641, known as the Currans Find Gold Prospect historically produced high-grade gold grading 13 g/t.

Both Rox and Venus will pay shares and cash for the purchase, Rox will pay $75,000 and issue 7.5 million shares at an issue price of 1 cent.

Completion is subject to mineral title transfer and other conditions typical of transactions of this nature.

READ: Rox Resources and Venus Metals join forces to acquire Youanmi Gold Mine

The purchase of Currans Find follows a recent move by Rox that saw it enter three joint ventures with Venus Metals focused on the Youanmi Gold Mine and surrounding area.

The three joint ventures - the OYG Joint Venture, VMC Joint Venture, and Youanmi Joint Venture can be seen on the map below relative to the two mining leases.

The purchase agreement has been entered into with Mr Doug Taylor and Murchison Earthmoving & Rehabilitation Pty Ltd.

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Mon, 15 Apr 2019 11:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218532/rox-resources-enters-deal-to-acquire-two-mining-leases-at-youanmi-218532.html
<![CDATA[News - Rox Resources and Venus Metals join forces to acquire Youanmi Gold Mine ]]> https://www.proactiveinvestors.com.au/companies/news/218280/rox-resources-and-venus-metals-join-forces-to-acquire-youanmi-gold-mine-218280.html Rox Resources Ltd (ASX:RXL) is entering three joint ventures with Venus Metals Ltd (ASX:VMC) focused on the Youanmi Gold Mine and surrounding area.

The key JV will see Rox acquire an initial 50% interest in the Youanmi Gold Mine, known as the OYG Joint Venture.

Rox will manage the OYG Joint Venture and also have the ability to increase its stake to 70%.

The OYG Joint Venture area covers 65 square kilometres surrounding the 1.19-million-ounce Youanmi Gold Mine, which is on care and maintenance.

Rox plans to undertake an aggressive near-mine exploration program and pre-development work at Youanmi immediately following the transaction's completion.

READ: Rox Resources hunts pre-development projects as it focuses on gold assets

Rox’s chairman Stephen Dennis said: “The acquisition of the Youanmi Gold Project is consistent with the company’s stated objective of acquiring near-production assets within its financial capacity.

“Since our new CEO Alex Passmore joined the company, our efforts to identify a suitable development project have increased and we look forward to realising the potential we believe exists at Youanmi.”

Notably, the mine ceased operating in 1997 when the gold price was just above A$400 per ounce.

The site infrastructure includes a CIP process plant (requiring significant refurbishment) which was designed to treat 600,000tpa of oxide ore, a tailings disposal facility, mine offices, combined core shed and workshop, mine village, access roads and airstrip.

Two other joint ventures also formed

The agreement between Rox and Venus also sees two other joint ventures formed, the VMC Joint Venture, and the Youanmi Joint Venture.

These joint ventures give Rox the right to earn 50% and 45% respectively of the gold rights on those tenements.

The VMC Joint Venture covers 302 square kilometres while the Youanmi Joint Venture area covers 270 square kilometres.

These two regional joint ventures extend the length of tenure to 40 kilometres of strike along the Youanmi Shear Zone.

Low cost entry into the joint ventures

To enter the main OYG Joint Venture, Rox will pay $2.8 million cash up front along with a 0.2 million scrip component and exploration spend.

To gain its interest in the two regional joint ventures it must spend $1 million within 12 months.

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Wed, 10 Apr 2019 11:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218280/rox-resources-and-venus-metals-join-forces-to-acquire-youanmi-gold-mine-218280.html
<![CDATA[News - Rox Resources in trading halt with material project acquisition news pending ]]> https://www.proactiveinvestors.com.au/companies/news/218089/rox-resources-in-trading-halt-with-material-project-acquisition-news-pending-218089.html Rox Resources Limited (ASX:RXL) is in a trading halt with an announcement pending regarding a material project acquisition.

The company’s securities will remain in a trading halt until the start of trade on Wednesday, April 10, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 0.8 cents.

READ: Rox Resources hunts pre-development projects as it focuses on gold assets

The company is focusing its exploration efforts on the Mt Fisher Gold Project and Collurabbie Nickel-Copper-PGE-Gold Project in Western Australia.

Rox’s new chief executive officer Alex Passmore last month told Proactive Investors that the company was looking for a new gold, silver, copper or zinc project with “near-term commercialisation potential”.

He said: “There’s been a raft of new projects that we’ve started to look at that are different to the previous management team.

“The company is looking to further its existing projects but also to look at different projects, maybe more advanced projects that require a more financing and feasibility skill set.

“There’s been over a hundred assets we’ve looked at in the last year – we continue to be very actively looking for assets that offer shareholder value and that strategic fit in the pre-development stage.”

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Mon, 08 Apr 2019 08:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218089/rox-resources-in-trading-halt-with-material-project-acquisition-news-pending-218089.html
<![CDATA[News - Rox Resources hunts pre-development projects as it focuses on gold assets ]]> https://www.proactiveinvestors.com.au/companies/news/216490/rox-resources-hunts-pre-development-projects-as-it-focuses-on-gold-assets-216490.html Rox Resources Limited (ASX:RXL) has set its Mt Fisher Gold Project and Collurabbie Nickel-Copper-PGE-Gold Project in Western Australia as top projects as former Patersons Securities finance and research director Alex Passmore settles into his new role as chief executive officer.

Passmore, a trained geologist and former Commonwealth Bank natural resources director, spoke to Proactive Investors last week and acknowledged he brings a different perspective to the company.

The CEO confirmed West Perth company Rox was on a project hunt as the cashed up junior looks for a new gold, silver, copper or zinc project with “near-term commercialisation potential.”

WATCH: Rox Resources seeks further acquisitions to fit near-development nickel-gold portfolio

New CEO Passmore told Proactive last Friday: “There’s been a raft of new projects that we’ve started to look at that were different to the previous management team.

“The company is looking to further its existing projects but also to look at different projects, maybe more advanced projects that require a more financing and feasibility skill set.

“There’s been over a hundred assets we’ve looked at in the last year – we continue to be very actively looking for assets that offer shareholder value and that strategic fit in the pre-development stage.”

Passmore has also brought the table an understanding of what the company’s shareholders are looking for and what is available on the market.

He acknowledged: “I have been in the role for around a month (and) came to Rox through the different network of people in the industry and a different viewpoint as to how to analyse projects.”

Passmore has spent the last 2.5-plus years as a director of the Subiaco-based corporate advisory, capital structuring and funding origination company Horizon Advisors Pty Ltd.

 

The CEO has a 15-or-so-year history with Rox and previously worked for the company that managed Rox’s initial public offering in 2004.

Explorer Rox has cash to burn and a few more options than the average junior.

Passmore said: “We’re in a fortunate position relative to a lot of juniors.

“We have 11.5 million dollars in cash and receivables — just under $8 million cash.

“That does give us the flexibility to look at a lot of projects that perhaps some other juniors aren’t able to look at — and we obviously are very well aware that’s one of our key advantages.”

“Watch this space”

Passmore’s broader network gives the company access to a wider range of projects to go over and the CEO expects these project evaluation efforts may deliver extra news flow.

He said: “It’s very much watch this space. I can’t be too specific but look you might see some news flow on that, hopefully in the first half of this year.”

Rox is aware its share price has a value disconnect, having traded below cash and receivable on low volumes.

Passmore acknowledged aged receivables, of about $3.75 million, for the sale of a stake in Reward project in the Northern Territory.

He said: “We would suggest that is a fait accompli, the clock is just going to run down on that.

“The receivables are receivable from Teck (Australia Pty Ltd), which relates to an asset sale to Teck around three years ago. And that is payable in the next three and a half years.”

The company had $7.9 million cash and $4.08 million of liquid assets and receivables at the end of December quarter 2018 and expected $590,000 of cash outflows in March quarter 2019.

Priority projects

Mt Fisher Gold Project and Collurabbie Nickel-Copper-PGE-Gold Project are what Passmore views as Rox’s two main projects.

Both are in the northeast area of WA’s Yilgarn Craton.

The 570 square kilometre Mt Fisher Gold Project has 1 million tonnes grading 2.7 g/t gold for 89,000 ounces at the project’s Damsel, Mt Fisher and Moray Reef deposits.

The project is considered underexplored, like its 168 square kilometre Northern Goldfields project Collurabbie where a drill program is expected to get going in April 2019.

Collurabbie project hosts the 573,000-tonne Olympia nickel sulphide deposit grading 1.63% nickel, 1.19% copper, 0.082% cobalt, 1.49 g/t palladium, and 0.85 g/t platinum.

A third project, the scoped out Fisher East Nickel Project, is effectively waiting for an improved nickel market, with enough heat in gold for now to deliver shareholder value.

Fisher East features 4.1 million tonnes grading 1.9% nickel for 78,000 contained tonnes.

Gold is a key focus for Rox these days, with Passmore and the company noting in a recent RIU Explorers Conference presentation that gold projects can be scaled to suit capital availability.

The precious metal is changing hands for more than $1800 an ounce this week, compared to about USD$6 a pound for the base metal nickel.

Field season results upcoming

Passmore hopes the company’s 2019 field season will deliver results.

He said: “In terms of news flow on the existing projects, we have a pretty active field season this year.

“We’ve got RC [reverse circulation] and diamond drilling at Mt Fisher Gold and we’ve got RC drilling planned and geophysics planned at Collurabbie.

“The results from those programs will be out in late April, early May [2019].

“And we’d like to see resource updates and upgrades flowing from that.”

A “pre-development” focus

While Mt Fisher Gold and Collurabbie are prospective, Rox wouldn’t mind another gold project for the company’s portfolio.

Passmore noted Mt Fisher Gold and Collurabbie projects were “some way off development.

“The portfolio — looking at it from a broader point of view — would benefit from a pre-development new-development asset.

“In gold would be our number-one focus, just given the capital intensity, the working capital requirements and the scale requirements that are in other commodities.”

At Mt Fisher, Rox hopes to find the primary source of gold unearthed during previous drilling.

At Collurabbie the company will look at structures similar to Regis Resources Limited’s (ASX:RRL) (FRA:RKQ) (OTCMKTS: RGRNF) Collurabbie belt projects Moolart Well and Garden Well.

Garden Well deposit features 3.5 million contained  gold ounces.

Rox’s previously-planned pick-up, the Bronzewing South Gold Project, will now not be acquired by the company.

Passmore doesn’t see Bronzewing as a fit for Rox’s emerging focus on pre-development projects.

He said: “We just couldn't see the value that that was going to bring in the very short term.

“We continue to be very, very actively looking for assets that offer shareholder value and also that strategic fit in that pre-development stage.”

 

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Thu, 14 Mar 2019 17:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216490/rox-resources-hunts-pre-development-projects-as-it-focuses-on-gold-assets-216490.html
<![CDATA[Media files - Rox Resources seeks further acquisitions to fit near-development nickel-gold portfolio ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12516/rox-resources-seeks-further-acquisitions-to-fit-near-development-nickel-gold-portfolio-12516.html Thu, 07 Mar 2019 22:54:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12516/rox-resources-seeks-further-acquisitions-to-fit-near-development-nickel-gold-portfolio-12516.html <![CDATA[News - Rox Resources to acquire Bronzewing South Gold Project in WA ]]> https://www.proactiveinvestors.com.au/companies/news/202435/rox-resources-to-acquire-bronzewing-south-gold-project-in-wa-202435.html Rox Resources Ltd (ASX:RXL) has acquired an option to purchase the Bronzewing South Gold Project in Western Australia from private company Carnegie Exploration Pty Ltd.

The acquisition will be through Rox’s 100%-owned subsidiary Helios Gold Ltd, which is expected to list on the ASX via an initial public offering in the near future.

Bronzewing South will complement Helios’ existing Mt Fisher Gold Project, which hosts a mineral resource of 1 million tonnes at 2.7 g/t gold containing 89,000 ounces.

Historical assays reveal potential

Bronzewing South comprises seven tenements covering 115 square kilometres near the shuttered Bronzewing Gold Mine.

Historical assays from aircore drilling include 4 metres at 6.53 g/t gold from 56 metres and 4 metres at 2.03 g/t from 108 metres.

Previous reverse circulation (RC) drilling recorded: 4 metres at 2.36 g/t from 124 metres; 1 metre at 5.67 g/t from 127 metres; and 1 metre at 4.42 g/t from 230 metres.

 

The aircore results indicate untested gold anomalism along a trend east of where previous exploration had focused.

Examination of these results show that a depressed regolith profile exists at the prospect, similar to that originally found in early drilling over the 3.6 million-ounce Bronzewing ore body.

Tenements northwest of Bronzewing are along strike from the plus-1 million ounce Orelia gold deposit being developed by Echo Resources Ltd (ASX:EAR).

The extension of the shear hosting Orelia has been interpreted to continue into the Helios tenements.

Terms of the option agreement will proceed in several stages:

A non-refundable deposit of $20,000 cash for a six-month option period.

Payment of $80,000 cash and issue of 2 million Helios shares to Carnegie upon Helios’ successfully listing on the ASX.

A further issue of $725,000 in cash or Helios shares when an inferred resource of greater than 250,000 ounces of gold is announced.

$1.25 million in cash or Helios shares when an indicated resource of greater than 500,000 ounces is announced.

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Wed, 08 Aug 2018 01:09:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202435/rox-resources-to-acquire-bronzewing-south-gold-project-in-wa-202435.html
<![CDATA[Media files - Rox Resources establishing gold subsidiary and strategically focusing on nickel ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9304/rox-resources-establishing-gold-subsidiary-and-strategically-focusing-on-nickel-9304.html Thu, 17 May 2018 09:00:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9304/rox-resources-establishing-gold-subsidiary-and-strategically-focusing-on-nickel-9304.html <![CDATA[News - Rox Resources reveals maiden nickel-copper-cobalt resource at Collurabbie ]]> https://www.proactiveinvestors.com.au/companies/news/182648/rox-resources-reveals-maiden-nickel-copper-cobalt-resource-at-collurabbie-182648.html Rox Resources Ltd (ASX:RXL) has revealed the maiden resource for the Olympia nickel-copper-cobalt deposit, at its Collurabbie project located 250 kilometres north of Laverton in Western Australia.

The maiden inferred resource includes 573,000 tonnes grading 1.63% nickel, 1.19% copper, 0.082% cobalt and 2.33 g/t platinum + palladium.

Olympia contains 9,300 tonnes of nickel, 6,800 tonnes of copper, 470 tonnes of cobalt and 43,000 ounces of platinum + palladium.

READ: Rox Resources drilling to upgrade nickel potential at Fisher East

The Collurabbie project is spread over an area of 123 square kilometres and hosts the Olympia nickel sulphide deposit and a number of other prospects for nickel sulphide mineralisation.

Rox to launch aircore drilling programme

Interestingly, Rox is having a number of key assets at various levels of development with exposure to gold, nickel, copper and platinum group elements.

This maiden resource at Olympia complements the resource of 50,000 tonnes at 2.5% nickel that was established at the company’s Fisher East nickel project only 70 kilometres away.

Rox will now embark on an aircore drilling program at Collurabbie, its first exploration programme since acquiring the project.

This drilling will test several nickel and gold targets developed along the belt over 15 kilometres of strike that have had little work for 10 years.

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Fri, 18 Aug 2017 14:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182648/rox-resources-reveals-maiden-nickel-copper-cobalt-resource-at-collurabbie-182648.html
<![CDATA[News - Rox Resources drilling to upgrade nickel potential at Fisher East ]]> https://www.proactiveinvestors.com.au/companies/news/178165/rox-resources-drilling-to-upgrade-nickel-potential-at-fisher-east-178165.html Rox Resources (ASX:RXL) has commenced diamond drilling at the Fisher East nickel sulphide project located 500 kilometres north of Kalgoorile in Western Australia.

Three key targets are due to be tested looking for deep extensions of known resources and mineralisation – Sabre, Camelwood and Musket.

It is worth noting that Rox has already defined a combined resource at Camelwood, Musket and Cannonball of 2.04 million tonnes at 2.48% nickel containing 50,600 tonnes of nickel.

The diamond drill holes at Sabre will target a large electromagnetic conductor that was previously identified by shallow drilling and intersected massive and disseminated nickel sulphides.

Rox’s diamond drilling at Camelwood will test for extensions of massive sulphides below the current extent of the resource, where the deepest intersection was at around 500 metres below surface.

At Musket, a diamond hole is planned to test a strong downhole electromagnetic target, circa 150 metres from the limit of the current resource.

The massive nickel sulphides at Musket returned grades of more than 20% nickel and this conductor may represent the extension of the Musket orebody.

The extensions of the mineral resources at Camelwood and Musket, and the confirmation of a mineral resource at Sabre would add significant value to the Fisher East project.

Rox has been granted the Exploration Incentive Scheme funding by the Western Australian Government for the drilling at Sabre ($72,000) and Camelwood ($119,200).

The recent reverse circulation drilling program at Fisher East, which tested targets at Cutlass, Sabre North, Mt Tate, Tomahawk, Horatio and Claymore has been completed and assays are awaited.

Rox is well funded with a cash balance of $15 million, receivables of circa $4 million and no debt as at 31 March 2017.

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Tue, 23 May 2017 13:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/178165/rox-resources-drilling-to-upgrade-nickel-potential-at-fisher-east-178165.html
<![CDATA[News - Rox Resources Ltd to update on sale of Reward project ]]> https://www.proactiveinvestors.com.au/companies/news/168886/rox-resources-ltd-to-update-on-sale-of-reward-project-168886.html The halt will remain in place until the opening of trade on Wednesday 16th November 2016, or earlier if an announcement is made to the market.

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Mon, 14 Nov 2016 08:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/168886/rox-resources-ltd-to-update-on-sale-of-reward-project-168886.html
<![CDATA[News - Rox Resources to update on asset sale ]]> https://www.proactiveinvestors.com.au/companies/news/167401/rox-resources-to-update-on-asset-sale-167401.html The company is pending an update on the sale of its interest in the Reward project.

The halt will remain in place until the opening of trade on Tuesday 18th October 2016, or earlier if an announcement is made to the market.

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Fri, 14 Oct 2016 12:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167401/rox-resources-to-update-on-asset-sale-167401.html
<![CDATA[News - Rox Resources Ltd targets nickel sulphides at Fisher East ]]> https://www.proactiveinvestors.com.au/companies/news/165291/rox-resources-ltd-targets-nickel-sulphides-at-fisher-east-70749.html Rox Resources Ltd (ASX:RXL) has commenced a 3,000 metre aircore drilling program at the Fisher East nickel sulphide project located 500 kilometres north of Kalgoorlie in Western Australia.

The drilling program will focus on the Mt Tate and Horatio prospects and three other electromagnetic anomalies.

Previous drilling at Mt Tate and Horatio has returned assays grading over 1% nickel.

The Fisher East project has a mineral resource of 4.2 million tonnes grading 1.9% nickel for 78,000 tonnes of contained nickel metal.

Nickel prices have recently reached A$14,000 per tonne and supply issues in the Philippines and elsewhere is expected to continue to drive up the prices.

Interestingly, Rox has already entered into an earn-in with Doray Minerals Ltd (ASX:DRM) who will fund up to $10 million for up to 75% interest in the gold resources at Mt Fisher.

The earn-in joint venture covers tenements at Mt Fisher which are prospective for gold, but specifically excludes the Fisher East nickel project tenements.

Earlier this month, Rox accepted a $21 million offer from Marindi Metals Ltd (ASX:MZN) for Rox’s 49% interest the Reward zinc-lead project, which includes a $8 million cash component.

The new funds will enable the company to fast track drilling and potentially boost the nickel resources at Fisher East, in light of the 35% rise in nickel prices since the start of 2016.

The aircore drilling program is expected to take about 10 days to complete, with assay results available within 3-4 weeks after that.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 31 Aug 2016 08:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165291/rox-resources-ltd-targets-nickel-sulphides-at-fisher-east-70749.html
<![CDATA[News - Rox Resources Ltd could be about to receive its rewards ]]> https://www.proactiveinvestors.com.au/companies/news/165290/rox-resources-ltd-could-be-about-to-receive-its-rewards-70362.html Rox Resources Ltd (ASX:RXL) has been granted an ASX trading halt late in the session today, pending details of a new offer for its interest in the Reward project.

The project is located in the Northern Territory, and hosts an Inferred Resource of 58 million tonnes at 12.7% zinc+lead.

Rox holds 49%, Teck 51%.

The halt will remain in place until the opening of trade on Friday 12th August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 10 Aug 2016 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165290/rox-resources-ltd-could-be-about-to-receive-its-rewards-70362.html
<![CDATA[News - Rox Resources Ltd to reveal offer ]]> https://www.proactiveinvestors.com.au/companies/news/165289/rox-resources-ltd-to-reveal-offer-70296.html Rox Resources Ltd (ASX:RXL) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Rox said it requested the halt pending an offer for its interest in the Reward project.

The halt will remain in place until the opening of trade on Wednesday 10th August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 08 Aug 2016 16:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165289/rox-resources-ltd-to-reveal-offer-70296.html
<![CDATA[News - Rox Resources Ltd heads to market ]]> https://www.proactiveinvestors.com.au/companies/news/161966/rox-resources-ltd-heads-to-market-69950.html Rox Resources Ltd (ASX:RXL) has been granted a trading halt by the ASX this morning, pending details of a capital raising.

The halt will remain in place until the opening of trade on Monday 25th July 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 21 Jul 2016 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161966/rox-resources-ltd-heads-to-market-69950.html
<![CDATA[News - Rox Resources Ltd is Wednesday's ASX Most Traded with 215 million ]]> https://www.proactiveinvestors.com.au/companies/news/161965/rox-resources-ltd-is-wednesdays-asx-most-traded-with-215-million-68978.html Wednesday's ASX Volume Leaders at the close.

Company NameCodeLastChangeVolume Rox Resources Ltd RXL $0.029 107.14% 215,965,576 TV2U International Ltd TV2 $0.044 -4.35% 94,662,977 Capital Mining Ltd CMY $0.006 0% 63,051,054 AnaeCo Ltd ANQ $0.002 100% 55,413,381 xTV Networks Ltd XTV $0.011 10% 49,596,741 Austin Exploration Ltd AKK $0.008 0% 44,227,933 Latin Resources Ltd LRS $0.014 0% 37,312,248 Xped Ltd XPE $0.093 -5.10% 37,151,783 Sky and Space Global Ltd SAS $0.024 -14.29% 34,589,822 Atlas Iron Ltd AGO $0.014 -6.67% 33,785,913

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 02 Jun 2016 07:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161965/rox-resources-ltd-is-wednesdays-asx-most-traded-with-215-million-68978.html
<![CDATA[News - Rox Resources granted ASX trading halt ]]> https://www.proactiveinvestors.com.au/companies/news/161964/rox-resources-granted-asx-trading-halt-65334.html Rox Resources (ASX:RXL) is preparing to head to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The explorer has been busy during the September 2015 quarter, and carried out aircore drilling and prefeasibility studies on the Fisher East nickel sulphide project in Western Australia.

It also received assays from drilling at the Teena prospect (Reward zinc project) in the Northern Territory.

The halt will remain in place until the opening of trade on Monday 2nd November 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 29 Oct 2015 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161964/rox-resources-granted-asx-trading-halt-65334.html
<![CDATA[News - Rox Resources readies to raise ]]> https://www.proactiveinvestors.com.au/companies/news/161963/rox-resources-readies-to-raise-62771.html Rox Resources (ASX:ROX) is preparing to reveal details of a capital raising.

The ASX has granted the company a trading halt, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Wednesday 10th June 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 05 Jun 2015 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161963/rox-resources-readies-to-raise-62771.html
<![CDATA[News - Rox Resources has a material announcement pending ]]> https://www.proactiveinvestors.com.au/companies/news/161962/rox-resources-has-a-material-announcement-pending-54510.html Rox Resources (ASX: RXL) has been granted a trading halt by the ASX today, with its shares placed in pre-open.

Rox requested the halt pending drilling results.

The halt will remain in place until the opening of trade on Tuesday 29th April 2014, or earlier if an announcement is made to the market.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 24 Apr 2014 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161962/rox-resources-has-a-material-announcement-pending-54510.html
<![CDATA[News - Rox Resources granted trading halt to raise capital ]]> https://www.proactiveinvestors.com.au/companies/news/161961/rox-resources-granted-trading-halt-to-raise-capital-53665.html Rox Resources (ASX: RXL) is heading to market with a capital raising, with the ASX granting the company a trading halt and pre-open status.

Earlier in the month RXL hit the heights following further significant widths and high grades, including a best nickel hit yet of 2 metres at 8.1% nickel intercept from drilling at a prospect at its Fisher East nickel project in Western Australia.

The results continue to show there is potential for multiple deposits at the project.

Drilling consisted of 14 holes for 2,663 metres to further define the high grade zones at the two new nickel sulphide discoveries made by Rox at Musket and Cannonball. 

These were along the strike of the Camelwood ultramafic unit.

The halt will remain in place until the opening of trade on Monday 17th March 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 13 Mar 2014 17:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161961/rox-resources-granted-trading-halt-to-raise-capital-53665.html
<![CDATA[Media files - Rox Resources Managing Director Ian Mulholland speaks to Proactive Investors at RIU Explorers Conference about catalysts for investors ]]> https://www.proactiveinvestors.com.au/companies/stocktube/5879/rox-resources-managing-director-ian-mulholland-speaks-to-proactive-investors-at-riu-explorers-conference-about-catalysts-for-investors-375.html Wed, 12 Mar 2014 11:04:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/5879/rox-resources-managing-director-ian-mulholland-speaks-to-proactive-investors-at-riu-explorers-conference-about-catalysts-for-investors-375.html <![CDATA[News - Rox Resources in best nickel hit yet at Fisher East ]]> https://www.proactiveinvestors.com.au/companies/news/161960/rox-resources-in-best-nickel-hit-yet-at-fisher-east-53451.html Rox Resources (ASX: RXL) has hit the heights following further significant widths and high grades, including a best nickel hit yet of 2 metres at 8.1% nickel intercept from drilling at a prospect at its Fisher East nickel project in Western Australia.

The results continue to show there is potential for multiple deposits at the project.

Drilling consisted of 14 holes for 2,663 metres to further define the high grade zones at the two new nickel sulphide discoveries made by Rox at Musket and Cannonball.  

These were along the strike of the Camelwood ultramafic unit.

Other significant high grade massive nickel intersections from recent RC drilling at Musket prospect included:

- 8m at 3.3% nickel from 227 metres (the 2m at 8.1% Ni was part of this)
- 4m at 3.2% Ni and 4m at 2.5% Ni within 17m at 2.2% Ni from 214 metres

While at Cannonball, four additional RC drill holes were completed with three of them intersecting high grade mineralisation.

The widths are narrower than at Musket but the high grade and massive nature of the mineralisation developing with increasing depth looks to be encouraging.

Highlights here were:

- 1m at 4.5% Ni from 176m downhole in hole MFEC052,
- 1m at 4.2% Ni from 199m downhole in hole MFEC053.

Assay results for hole MFEC063 are pending, but visually 1 metre of massive sulphide was intersected.

Rox will drill adjacent to holes MFEC059 and 065 by the end of March to try extend the depth and extent of the high grade massive sulphide mineralisation.

With the high grade nickel intersection, the probability of a substantial nickel sulphide mineral resource looks to be statistically high.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 06 Mar 2014 16:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161960/rox-resources-in-best-nickel-hit-yet-at-fisher-east-53451.html
<![CDATA[News - Rox Resources in pre-open, material drilling result pending ]]> https://www.proactiveinvestors.com.au/companies/news/161959/rox-resources-in-pre-open-material-drilling-result-pending-53287.html Rox Resources' (ASX: RXL) is preparing to reveal some material drilling results, with the ASX granting the company a trading halt this morning.

RXL's shares are currently in pre-open.

Earlier in the month reverse circulation drilling re-commenced at Fisher East to follow-up nickel sulphide discoveries at Musket and Cannonball.

The drilling is testing previously defined mineralisation at deeper levels.

There is up to a 3 kilometre strike length of potential nickel sulphide mineralisation extending from Camelwood to Musket, open at depth and largely unexplored.

The halt will remain in place until the opening of trade on Tuesday 4th March 2014, or earlier if an announcement is made to the market.


Ian Mulholland, managing director of RXL, StockTube from RIU Explorers conference in Fremantle.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 28 Feb 2014 12:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161959/rox-resources-in-pre-open-material-drilling-result-pending-53287.html
<![CDATA[News - Rox Resources in pre-open, material exploration results ]]> https://www.proactiveinvestors.com.au/companies/news/161958/rox-resources-in-pre-open-material-exploration-results-51181.html Rox Resources (ASX: RXL) is preparing to reveal details of material exploration results, with the ASX granting the company a trading halt - with its shares placed in pre-open.

Earlier in the month Rox kicked off a reverse circulation drilling program at its Fisher East nickel sulphide project, 500 kilometres north of Kalgoorlie in Western Australia.

In November Rox made a new nickel sulphide discovery at the project.

The halt will remain in place until the opening of trade on Wednesday 18th December 2013, or earlier if an announcement is made to the market.

 

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Mon, 16 Dec 2013 13:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161958/rox-resources-in-pre-open-material-exploration-results-51181.html
<![CDATA[Media files - Rox Resources MD Ian Mulholland speaks with Proactive Investors on recent discoveries ]]> https://www.proactiveinvestors.com.au/companies/stocktube/5878/rox-resources-md-ian-mulholland-speaks-with-proactive-investors-on-recent-discoveries-346.html Tue, 26 Nov 2013 11:54:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/5878/rox-resources-md-ian-mulholland-speaks-with-proactive-investors-on-recent-discoveries-346.html <![CDATA[News - Rox Resources targeting massive sulphide accumulations at Bonya, Northern Territory ]]> https://www.proactiveinvestors.com.au/companies/news/161957/rox-resources-targeting-massive-sulphide-accumulations-at-bonya-northern-territory-48970.html Rox Resources (ASX: RXL) has commenced an airborne electro-magnetic survey at its Bonya project, 350 kilometres east of Alice Springs in the Northern Territory.

The survey is designed to detect electro-magnetic conductors, such as sulphide accumulations, at depths of up to 1 kilometre.

Rox is targeting mineralisation similar to the adjacent Jervois copper deposits which contain massive and stringer zones of chalcopyrite (copper sulphide) and pyrite (iron sulphide) mineralisation.

Results should be available by late November, will be used to identify and prioritise drilling targets.

Surface mapping and general prospecting has identified a number of geochemical targets and the survey, covering 174 square kilometres, will cover these targets and seek to identify further targets lacking surface expression.

 

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Thu, 10 Oct 2013 15:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161957/rox-resources-targeting-massive-sulphide-accumulations-at-bonya-northern-territory-48970.html
<![CDATA[News - Rox Resources intersects up to 14.2m at 18.4% zinc and lead in the Northern Territory ]]> https://www.proactiveinvestors.com.au/companies/news/161956/rox-resources-intersects-up-to-142m-at-184-zinc-and-lead-in-the-northern-territory-48147.html Rox Resources’ (ASX: RXL) shares are poised to rise today after reporting high grade zinc results of up to 14.2 metres at 18.4% zinc and lead from the current drilling program at the Teena prospect of its Reward zinc project in the Northern Territory.

The third diamond drill hole has also extended the strike length of high grade mineralisation to at least 700 metres while additional assays of the second hole have defined more zones of mineralisation.

TNDD011 – the third hole – intersected 20.3 metres at 13.9% zinc and lead from 901 metres including 16.3 metres at 16.5% zinc and lead from 905 metres that in turn contains the peak intersection from 907.1 metres.

At TNDD010, additional assays have defined more zones of zinc and lead mineralisation over an almost 350 metre thick mineralised section from 908.8 metres.

Notable results from this zone include:

-    7.8 metres at 8.7% zinc and lead from 988.8 metres;
-    9.7 metres at5.7% zinc and lead from 1124.0 metres;
-    22.0 metres at 3.9% zinc and lead from 1169.0 metres; and
-    19.8 metres at 2.7% zinc and lead from 1212.2 metres.

Further strike length increases are possible with historic drilling indicating that the higher grade mineralised zone could exceed 1.6 kilometres.

 

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Wed, 18 Sep 2013 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161956/rox-resources-intersects-up-to-142m-at-184-zinc-and-lead-in-the-northern-territory-48147.html
<![CDATA[News - Rox Resources shares to spike on zinc discovery in Northern Territory ]]> https://www.proactiveinvestors.com.au/companies/news/161955/rox-resources-shares-to-spike-on-zinc-discovery-in-northern-territory-46361.html Rox Resources' (ASX: RXL) shares should jump this afternoon as they resume trading after a zinc discovery in the first hole of a drilling at the Teena prospect saw both widths and high grade zinc encountered at the Reward project in the Northern Territory.

The first drill hole intersected at Teena prospect saw a 116 metre interval of variable mineralisation from 1,012 metres and notably had significant widths and grades including 26.4 metres at 13.3% zinc+lead, including 16.2 metres at 17.2% zinc+lead.

Even better for Rox, the drilling program is being managed by Teck Australia under an Earn-in Agreement with Rox, with Teck funding all drilling and other exploration costs.

The second hole, approximately 200 metres west of the first, has intersected visually similar mineralisation, drilling is ongoing with results to come.

There were similarities drawn with the the adjacent McArthur River zinc mine discovery, 10 kilometres away with its average grade of 13.1% Zn+Pb, which is comparable to the first hole at Teena grading 13.3% Zn+Pb.

McArthur River zinc mine is owned by GlencoreXstrata and is one of the world's largest zinc, lead and silver mines.

With a 4,500 metre drilling program underway, and drilling success seen in the first hole, it would be a brave man to bet against further discoveries by program manager, Teck.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 05 Aug 2013 14:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161955/rox-resources-shares-to-spike-on-zinc-discovery-in-northern-territory-46361.html
<![CDATA[News - Rox Resources preparing to release "material exploration results" ]]> https://www.proactiveinvestors.com.au/companies/news/161954/rox-resources-preparing-to-release-material-exploration-results-46290.html Rox Resouces (ASX:RXL) may be looking at significant exploration results from the Mt Fisher gold nickel project in Western Australia which hosts the Camelwood nickel sulphide discovery.

Rox has requested a trading halt to digest and announce "material exploration results."

Drilling at Camelwood has had a very high success rate with 25 of the 27 diamond core holes drilled intersecting mineralisation.

Camelwood nickel sulphide discovery expanded with 10,630 metres of diamond drilling and 1,284 metres of RC drilling completed during the quarter.

Drilling extended the deposit dimensions to over 1.2 kilometres in strike length and down to over 500 metres depth, still open along strike and at depth.

Drill intercepts during the quarter included 3.3 metres grading 1.9% nickel, including 0.8 metres grading 5.0% Ni and o 5.3 metres grading 2.4% Ni, including 0.5 metres grading 6.7% Ni.

 


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Fri, 02 Aug 2013 12:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161954/rox-resources-preparing-to-release-material-exploration-results-46290.html
<![CDATA[News - Rox Resources could host "significant nickel sulphide deposit" ]]> https://www.proactiveinvestors.com.au/companies/news/161953/rox-resources-could-host-significant-nickel-sulphide-deposit-40326.html Rox Resources (ASX: RXL) continues to have exploration success at the Camelwood prospect, which is within the Fisher East nickel project - 450 kilometers north of Kalgoorlie in Western Australia.

The first diamond hole (MFED001) assays have shown that mineralsiation intersected is; 11.4 metres at 2.9% nickel from 282.6 metres, including 2.9 metres at 4.7% nickel. Diamond drilling is continuing which will provide more results in the near-term.

Another plus is that reverse circulation holes also recorded nickel, such as MFEC006 with 1 metre at 2.5% nickel and MFEC007 with 3 metres at 1.8% nickel.

The first diamond drill hole, MFED001, as reported on 15th February 2013, from visual inspection, to have intersected 3.1 metres of massive to semi-massive sulphide mineralisation from 282.8 to 285.9 metres, followed by 2.9 metres of disseminated sulphide mineralisation from 285.9 to 288.8 metres. Today's results are the actual assays.


Mineralisation longer than expected

The positive outcome from the assays are that they confirm the mineralised interval was longer than visually expected, and the high grade tenor of nickel contained in fresh massive to semi-massive sulphides is highly encouraging in terms of further massive sulphide material that might be located at Camelwood.

Ian Mulholland, managing director, commented: “Our initial drilling at Camelwood has been very wide spaced, and has been aimed at first determining the strike extent of mineralisation, which we are still to do despite drilling over 600 metres of strike at this stage.

“As would be expected with this type of deposit we are seeing varying intensities and thicknesses of mineralisation in our drilling.

"It’s still very early days in our understanding of the deposit, but we continue to have a 100% success rate in intersecting nickel sulphides in all holes drilled so far, and the high grades in hole MFED001 are particularly encouraging."

The importance of these results is that they are indicating a large mineralised system which is still open to the north, to the south and at depth.

Mulholland added, "Everything we are seeing is confirming that we have a typical komatiite-hosted type nickel sulphide mineralised system.”


New diamond hole MFEC005

A further diamond drill hole, MFEC005, has been drilled 100 metres north and about 50 metres below the MFED001 intercept, and highlighting the prospectivity of the area a visual inspection shows that this hole has intersected 1.7 metres of massive sulphides and 2 metres of disseminated sulphides, which is then cut off by a fault.

Mulholland said that these assays now clearly demonstrate the potential of this prospect to host a significant nickel sulphide deposit.

Diamond drill holes MFED003 and 004, drilled 200 metres south and 300 metres north respectively from hole MFED001, have intersected 0.1 metres of semi-massive sulphides followed by 12 metres of disseminated sulphides from 178.4 metres, and 0.1 metres of stringer sulphides followed by 6 metres of disseminated sulphides respectively.

While these holes indicate that the system in these locations is still mineralised, the potential for thicker massive sulphide mineralisation is clearly in the vicinity of hole MFED001 based on current knowledge.

Mulholland continued, “The results from holes MFED001 and MFED005 clearly indicate a focus for drilling where we expect to continue to intersect high grade massive sulphide mineralisation.”


Reverse circulation drilling

To date 8 RC holes have defined the strike extent at Camelwood to be at least 600 metres. Assays from holes MFEC006 and 007 have now been received and are as follows (above a 1% Ni cut-off):

- MFEC006: 1 metres at 2.5% nickelt from 125 metres; and
- MFEC007: 3 metres at 1.8% nickelt from 118 metres.


The next step

Geophysical contractors have been mobilised to site to undertake down-hole EM surveys in all diamond holes completed so far.

Rox will also focus further drilling will be in the vicinity of hole MFED001, testing along strike and down dip.


Analysis

Rox may have only just scratched the surface of this deposit with only a very small and shallow portion of the modelled EM conductive plate yet tested.

The first diamond drill hole at the Camelwood prospect at the Fisher East nickel project are impressive.  With a 100% success rate in intersecting nickel sulphides in all holes drilled so far, and the high grades in hole MFED001 are particularly encouraging. Rox looks to be on the verge of defining a significant nickel deposit at the prospect.

The recent capital raising was strongly supported with good reason raising $4.95 million.

If Rox continues to deliver results like today's going forward, then the re-rating of the company will continue.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 04 Mar 2013 10:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161953/rox-resources-could-host-significant-nickel-sulphide-deposit-40326.html
<![CDATA[News - Rox Resources and Teck extend Myrtle mineralised zinc basin and resource potential ]]> https://www.proactiveinvestors.com.au/companies/news/161952/rox-resources-and-teck-extend-myrtle-mineralised-zinc-basin-and-resource-potential-33462.html Rox Resources (ASX: RXL) and joint venture partner Teck Australia have extended the Myrtle/Reward zinc project’s mineralised footprint 400 metres north and 700 metres east in its recent drilling campaign.

Already, Myrtle has a JORC Resource of 43.6 million tonnes grading 4.09% zinc, 0.95% lead, for 5.04% combined zinc plus lead.

The recent discovery of Teena has also been good news. While early days, indications are that it could be at least as large as Myrtle. Myrtle is 15 kilometres south of Teena.

Results from the current six diamond drill hole program completed by Teck at the Northern Territory project show thick, low to moderate grade intercepts and indicate a large mineralised system that is still open to the west.

Significantly, the mineralised horizon was around 20 metres in total thickness in each hole with the better results including:

- 4 metres at 2.7% zinc plus lead from 219 metres;
- 7 metres at 2.52% zinc plus lead from 290 metres;
- 10 metres at 1.77% zinc plus lead from 299 metres; and
- 22 metres at 1.26% zinc plus lead from 160 metres.

The drilling program was designed to test the margins of the North Myrtle Basin, rather than the centre of that basin which could host better grade mineralisation, and also tested targets in the Main Myrtle Basin.

The target for mineralisation was the lower portion of the Barney Creek Formation where it overlies the Teena Dolomite and W-Fold Shale.

Three holes were drilled into the North Myrtle Basin, where Rox has estimated a JORC Resource of 43.6 million tonnes at 4.09% zinc and 0.95% lead for 5.04% zinc plus lead, using a 3% zinc plus lead cut-off.

Each of these holes intersected mineralisation although the grades were moderate, potentially due to being located near the margins of the basin.

Ian Mulholland, managing director, commented: “The drilling was successful since Teck have established, by taking large step outs in drilling, that the mineralised system in the North Myrtle Basin is indeed very large and have extended it some 400 metres north and 700 metres northeast from our previous drilling.

“In addition, this basin is still open to the west where there has been very little drilling.”

“We are very encouraged that the overall Myrtle system is a large one, and therefore has the potential to host a reasonably sized body of higher grade mineralisation.

“We have a higher grade subset of the JORC Mineral Resource at a cut-off of 5% zinc plus lead, of 15.3 million tonnes grading 5.45% zinc, 1.40% lead, for 6.85% zinc plus lead, and this drilling indicates that if the mineralised system is larger, then this higher grade portion may be significantly larger too.”

Mulholland added that Rox also has the Teena prospect, 15 kilometres north of Myrtle, where the company announced recently that it now has data showing significant thicknesses and grades from historic drilling that had not previously been reported.

“With results such as 11.3 metres at 10.9% zinc plus lead and 8.6 metres at 9.84% zinc plus lead, Teena is a highly prospective target that Teck is planning to investigate further.

“What this all demonstrates is that Rox’s tenement area is highly prospective and is proving to be analogous to the Mt Isa area where a number of deposits, such as Hilton and George Fisher, have been found within 20 kilometres of the original Mt Isa deposit.”


Teena prospect

The historic zinc drilling results from the Teena prospect show its potential to be a new potentially high grade deposit.

In addition to the notable intersections of high grade zinc mineralisation, the prospect is also strategically located 10 kilometres west of Xstrata’s (LON: XTA) McArthur River Zinc Mine.

The potential dimensions of the Teena prospect are 1.5 by 1 kilometre, which is similar in size to the McArthur River zinc deposit.

Only wide spaced drilling has been undertaken on the prospect which shows the potential for over 1.5 kilometres in strike length.

Preliminary indications are that Teena is at least as big as Myrtle, and potentially higher in grade.

The geologies of Myrtle and Teena are almost identical and have the same sequence of rocks found at McArthur River. The mineralisation is similar but not quite identical to McArthur River.


Next steps

Teck is in the process of compiling and evaluating the data and integrating recent downhole logging data, gamma and magnetics, into a three dimensional model.

Further work at Myrtle will be determined once the results from this data processing are evaluated.

Teck is also undertaking detailed logging of the high grade Teena drill core, and will then proceed with surface geological mapping and geochemistry prior to commencing a drilling campaign, anticipated to start at the beginning of the next field season.

Rox has previously outlined an exploration target of 100-200 million tonnes at 10% to 12% zinc plus lead for Myrtle, which lies adjacent to the world class McArthur River zinc-lead deposit.


Teck partnership

Rox currently has an earn-in and joint venture agreement with Teck over its Reward project tenements, where Teck is spending $5 million to earn an initial 51% interest and can spend up to $15 million to earn up to 70%.

To date, Teck has spent $2.5 million, or about half the amount required, to earn its 51% interest.


Analysis

Today's news further demonstrates just how prospective Rox’s tenement area is proving to be, coming after discovery of the Teena deposit. The historical drill results that indicated that Teena is a significant zinc deposit in the making were perhaps missed by some sections of the market. 

Certainly, the import of these and growing sense that there is potential for multiple zinc deposits to be unearthed (i.e. the Teena deposit) should be a signal that the current valuation of $9 million for Rox does not take into account the value inherent and growing in Rox. 

With results from Teena such as 11.3 metres at 10.9% zinc plus lead and 8.6 metres at 9.84% zinc plus lead, Teena is a prize in terms of a highly prospective target that will see more exploration from Teck.

It is axiomatic that the overall Myrtle system is a large one and therefore has the potential to host a reasonably sized body of higher grade mineralisation. Today's news shows that not only is Myrtle expanding but that the value of the deposits are fast growing for Rox and Teck.

Suddenly, the exploration target of 100 to 200 million tonnes at 10% to 12% zinc plus lead is looking more and more achievable.



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Fri, 14 Sep 2012 13:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161952/rox-resources-and-teck-extend-myrtle-mineralised-zinc-basin-and-resource-potential-33462.html
<![CDATA[News - Rox Resources finance director shows confidence with purchase of more shares on market ]]> https://www.proactiveinvestors.com.au/companies/news/161951/rox-resources-finance-director-shows-confidence-with-purchase-of-more-shares-on-market-29087.html Rox Resources (ASX: RXL) finance director Brett Dickson has again increased his shareholding by 1 million shares for a consideration of A$23,000.

Dickson acquired the shares on 18 May at an average entry price of over $0.02 per share.
 
Indirectly, he now holds 3 million shares and 625,000 options exercisable at $0.038 on or before 26 September 2012.
 
He also directly holds 625,000 shares and 625,000 options exercisable at $0.038 on or before 26 September 2012.

Rox is in an interesting position at its flagship Mt Fisher Gold-Nickel Project in Western Australia having delivered a maiden JORC Resource of 973,800 tonnes at 2.75 grams per tonne (g/t) gold for 86,080 ounces of contained gold.
 
Importantly, Rox can now evaluate possible treatment options, with four gold treatment plants within 150 kilometres of the company’s operations.
 
One option is to start treatment of ore from the Moray Reef, which is small but quite high grade at 7.5g/t gold.
 
This could provide near term cash flow for Rox to progress the project as it works to grow the gold Resource base.


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Mon, 21 May 2012 15:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161951/rox-resources-finance-director-shows-confidence-with-purchase-of-more-shares-on-market-29087.html
<![CDATA[News - Rox Resources targets maiden gold resource at Mt Fisher in early 2012 ]]> https://www.proactiveinvestors.com.au/companies/news/161950/rox-resources-targets-maiden-gold-resource-at-mt-fisher-in-early-2012-21154.html Rox Resources (ASX: RXL) is following up on previous bonanza grade gold intersections with a 5000 metre reverse circulation drilling program at the Mt Fisher gold project in Western Australia, with the aim of converting a number of potential exploration targets into an initial JORC Resource by early next year.

Previous drilling at the Moray Reef returned high grade drill hits of 3 metres at 67 grams per tonne (g/t) of gold, 1 metre at 187g/t and 3 metres at 8g/t with the high grade resource averaging 5-10g/t gold indicated.

The Mt Fisher project is believed to be a similar geological sequence to Navigator Resources' (ASX: NAV) 3.6 million ounce Bronzewing gold project.

The high grade zone of gold mineralisation at Moray Reef has the potential to be brought into production quickly if a toll milling agreement can be secured with a nearby gold treatment facility.

Moray Reef is a narrow high grade gold mineralised zone some 350 metres long and extending to at least 100 metres depth. The additional drilling is designed to test depth and along strike extensions.

At the Damsel prospect, a 500 metre long zone of oxide mineralisation from surface to 100 metres depth has been defined by previous drilling, including recent reverse circulation drilling by Rox.

Previous intercepts include 6 metres at 3.38g/t of gold from 45 metres, 9 metres at 4.43g/t from 54 metres, 9 metres at 7.12g/t from 76 metres and 11 metres at 5.32g/t from 60 metres.

Drilling will now be undertaken to fill in the drill pattern to 100 by 25 metres on six sections.

Managing director Ian Mulholland told Proactive Investors the 5000 metre reverse circulation drilling program would comprise approximately 20 holes drilled to a depth of about 250 metres.

He said the drilling should be completed by early December, with some results possibly before Christmas and the rest expected during January 2012.

Previous drilling has demonstrated the gold mineralisation below the Mt Fisher open pit continues at depth at economic grades and widths.

An electromagnetic survey completed prior to mining at Mt Fisher defined a strong anomaly associated with the mineralisation, with gold closely associated with pyrite within the Mt Fisher chert.

Rox’s recent VTEM surveying has identified two very strong conductors along strike to the south of the mine, and these present possible repeats of the Mt Fisher style of gold mineralisation and are interpreted to occur within the Mt Fisher chert unit.

The recent VTEM survey also covered the along strike extensions of the Mt Fisher chert unit for up to 10 kilometres north and south of the Mt Fisher mine.

A number of strong bedrock conductors have been defined and five will be tested by the planned drilling.

In June Rox received shareholder approval for the purchase of the Mt Fisher gold nickel project from Avoca Resources (ASX: AVO).

The company holds a tenement package covering 615 square kilometres, located about 250 kilometres north of Leonora in Western Australia’s Goldfields region. Rox has an option to purchase a further area of 170 square kilometres at the project.

Mt Fisher is 40 kilometres to the east of the prolific 17 million ounce Yandal greenstone belt and 100 kilometres east of the main Wiluna greenstone belt. The Norseman-Wiluna Belt is believed to host in excess of 30 million ounces of gold.

The Mt Fisher Greenstone Belt has not seen the same level of exploration as the other belts in the region. Many large areas remain unexplored.

Previous mining at Mt Fisher from underground and open cut has produced 27,000 ounces of gold.

Rox has defined an exploration target of 35,000 to 50,000 tonnes at 5-10g/t gold from the Moray Reef prospect and 400,000 to 600,000 tonnes at about 4-5g/t gold from the Damsel prospect.

Further production potential exists within the tailings and low grade stockpiles which could produce around 360,000 tonnes at 1.1g/t gold.

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Tue, 25 Oct 2011 12:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/161950/rox-resources-targets-maiden-gold-resource-at-mt-fisher-in-early-2012-21154.html
<![CDATA[News - Rox Resources gold hits point to high grade potential of Mt Fisher project ]]> https://www.proactiveinvestors.com.au/companies/news/161949/rox-resources-gold-hits-point-to-high-grade-potential-of-mt-fisher-project-18878.html Rox Resources (ASX: RXL) has intersected significant near surface gold from reverse circulation (RC) drilling at its recently acquired highly prospective Mt Fisher gold project, confirming potential for multiple high-grade gold deposits.

Highlights include:

- 8 metres at 3.08 grams per tonne (g/t) gold from the Dam prospect;
- 9 metres at 4.43 g/t gold, including 3 metres at 8.31 g/t gold from the Damsel prospect; and
- 2 metres at 5.44 g/t gold from the Mt Fisher mine area.

The sizeable gold mineralised systems indicated at these three prospects underpin the prospectivity of the project which is located about 250 kilometres north of Leonora in Western Australia’s Goldfields region.

Ian Mulholland, managing director, said “our first drilling campaign at Mt Fisher has been highly successful.

"We’ve confirmed the potential of Mt Fisher to host multiple shallow high-grade gold deposits and the continuation of high-grade gold mineralisation at depth. We are well advanced in our planning to conduct follow up drilling at Mt Fisher in the near future.”

The Mt Fisher Gold Mine was first discovered in 1937 and produced about 27,000 ounces of gold from open pit and underground mining, and is open at depth and down plunge.

Rox conducted the 3,000 metre program of RC drilling at Mt Fisher during July 2011 where previous RAB and aircore drilling at the Damsel prospect indicated the presence of a continuous zone of gold in the regolith, including some high grade intercepts.

Interpretation of dip and strike indicated the potential for a zone of gold mineralisation dipping about 45 degrees to the west. Today's results indicate that a high-grade oxide zone is present within about 50 metre of surface at Damsel.

Drilling at the Dam prospect, south west of Damsel, has also indicated that a sizeable gold mineralised system is present.

Drilling at the Dam South and Dam South East prospects was designed to test beneath respective gold-in-regolith anomalies and confirmed the continuation of the gold mineralised system at depth. However, further drilling is required to properly evaluate these areas.

At the Mt Fisher Mine prospect, where Rox has an Option to Purchase a further area of 170 square kilometres, drilling confirmed the continuation of high-grade mineralisation at depth and down plunge from the previously mined gold mineralisation beneath the Mt Fisher open pit.

The company said this will now become a priority drill target for the next program of drilling which will continue along strike and down dip from the intersection in hole MRFC012 as well as further to the south.

In June Rox received shareholder approval for the purchase of the Mt Fisher gold nickel project from Avoca Resources (ASX: AVO).

The Mt Fisher project hasn’t seen serious exploration for over 10 years and with the gold price currently at nearly US$1900 an ounce, the acquisition could prove to be very astute.

Rox's landholding now comprises about 785 square kilometres of the Mt Fisher greenstone belt which includes the tenements purchased from Avoca plus the area optioned by the company.

Rox is expecting solid news flow between now and the end of the year.

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Tue, 23 Aug 2011 11:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161949/rox-resources-gold-hits-point-to-high-grade-potential-of-mt-fisher-project-18878.html
<![CDATA[News - Rox Resources poised to intensify exploration at Mt Fisher gold nickel project ]]> https://www.proactiveinvestors.com.au/companies/news/161948/rox-resources-poised-to-intensify-exploration-at-mt-fisher-gold-nickel-project-17104.html Rox Resources (ASX: RXL) has received shareholder approval for the purchase of the Mt Fisher gold nickel project in Western Australia from Avoca Resources (ASX: AVO), and will now commence with a busy exploration period over its various highly prospective projects.

In addition to Mt Fisher, Rox is also progressing exploration at its Myrtle Zinc-Lead Project and Marqua Phosphate Project in the Northern Territory.

The Mt Fisher project hasn’t seen serious exploration for over 10 years and with the gold price currently at $1516.30 an ounce, the acquisition could prove to be very astute.

Rox's landholding now comprises about 785 square kilometres of the Mt Fisher greenstone belt which includes the tenements purchased from Avoca plus an area recently optioned by the company.

The project area includes the now closed, historic high grade Mt Fisher gold mine and a number of drill targets already identified along strike from it.

In addition the Dam-Dirks corridor, a zone of strong gold-in-regolith anomalism over 5 kilometres in length, contains a number of strong drilling targets.

Intriguingly, this zone shows marked similarities with the Bronzewing area on the adjacent Yandal belt where a gold deposit of 3.6 million ounces was discovered under similar gold-in-regolith anomalies in the 1990’s.

Rox will immediately commence its exploration program that will include a detailed airborne magnetic and radiometrics at 50 metre line spacing covering much of the project area.

This survey will improve on the existing data and the survey is expected to be completed in late June.

The company will also conduct an airborne VTEM (Vertical Time Domain Electro-Magnetics) at 150-250 metre line spacing to define potential conductors that could host either nickel sulphide deposits or sulphide gold deposits.

Importantly, there is a strong association between gold and sulphides at both Mt Fisher and Bronzewing. The survey is expected to be completed in July and will be the first of its kind over the Mt Fisher area.

In addition the company will undertake reverse circulation (RC) drilling of several targets along the Dam-Dirks corridor and also at the Mt Fisher gold mine. Rox expects to kick off drilling in late June.

Rox recently farmed out the Myrtle zinc-lead project to Teck Resources (ASX: TCK) in a $15 million deal. It also has a the low cost staking of the Marqua phosphate project.

At the Myrtle Zinc-Lead Project field work is anticipated commence shortly as the water levels in the McArthur River have now fallen sufficiently to allow access to the project area located 20 kilometres south of the McArthur River mine.

The work program planned by Teck Australia Pty Ltd involves an initial detailed gravity survey over the Myrtle deposit and surrounding areas involving 1,700 gravity stations at a 250 x 250 metre and 500 x 500 metre spacing.

This survey is aimed to provide greater definition of the Myrtle basin and its extensions to allow more confident drill targeting. The survey will cover an area of approximately 8 x 8 km (64 square kilometres).

An IP survey will also be undertaken on a trial basis, since previous drill core test work by Rox has identified that the sulphide mineralisation at Myrtle responds well to the IP technique. This survey could define other unknown drill targets.

Teck also intend to undertake a detailed geochemical survey of the existing drill core, along with further detailed logging to enable the context of the Myrtle mineralisation to be more fully understood. The outcome from this work should result in a fully integrated three dimensional model for Myrtle.

Following this work Teck propose to undertake drilling to test the extension of the stratabound mineralisation already intersected by Rox. Final drill hole locations will be determined following integration of all the data collected.

The budget for Teck’s exploration program is about $1.5 million, and will easily reach the minimum requirement of $1 million by 21 July 2012.

The Myrtle deposit currently has an Inferred and Indicated mineral resource of 43.6 million tonnes grading 4.09% zinc and 0.95% lead, for a combined grade of 5.04% zinc + lead.

A higher grade core of 15.3 million tonnes grading 5.45% zinc and 1.40% lead, for a combined grade of 6.84% zinc + lead is also present.

At the highly prospective Marqua Phosphate Project high grade drill intersections have already been encountered, along with occurrences of base metals and uranium.

Previous exploration of the area identified five phosphate prospects over a strike length of 20km with outcrops grading up to 39.4% P2O5 along a phosphorite horizon.
 
The prospects occur near the southern extent of the Georgina Basin, which is rapidly becoming Australia’s major hard-rock phosphate province.

Marqua is well situated to supply phosphate to the growing markets in Asia and North America. Phosphate is an essential component of fertilisers for the agricultural industries around the world.

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Tue, 14 Jun 2011 13:51:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161948/rox-resources-poised-to-intensify-exploration-at-mt-fisher-gold-nickel-project-17104.html
<![CDATA[News - Rox Resources acquires option to expand exploration footprint at Mt Fisher gold project ]]> https://www.proactiveinvestors.com.au/companies/news/161947/rox-resources-acquires-option-to-expand-exploration-footprint-at-mt-fisher-gold-project-16644.html Rox Resources (ASX: RXL) has acquired an option to add a further 170 square kilometres of tenements that could potentially host significant gold resources adjacent to the Mt Fisher gold-nickel project area in Western Australia.

The option to increase the total controlled area to 785 square kilometres follows the acquisition of the 615 square kilometre highly prospective Mt Fisher project from Avoca Resources (ASX: AVO) in February.

The new tenements include the historic high grade Mt Fisher gold mine (now closed) where historical open pit mining between 1987 and 1989 extracted about 218,000 tonnes at a recovered grade of 3.2 g/t gold.

Exploration potential in the new Option area is considered high with a number of drill targets already identified along strike from the Mt Fisher gold mine.

Four “look alike” targets to the Mt Fisher gold mine have been identified by Rox for further investigation.

Ian Mulholland, Rox managing director, said “not only does the deal include the Mt Fisher gold mine, where there is the potential for at least another 50,000–100,000 ounces of gold to be defined beneath the open pit, but there is also the exploration ground where repeats of Mt Fisher style gold orebodies could be located.

"This option agreement together with our current Mt Fisher project tenements makes a really good package ground with great similarities to the Yandal gold belt to the west that hosts over 17 million ounces of gold.”

There are three major gold prospects in the belt which have seen largely either rotary air blast (RAB) or aircore drilling only. 

Gold discovered in 1937 at Mt Fisher

Gold was first discovered at Mt Fisher in 1937 and historic production at the Mt Fisher gold mine up to 1949 was about 4,500 tonnes at a recovered grade of 28 g/t gold (4,050 onces gold).

About 7,500 ounces gold remain in the tailings dam (at a grade of about 1.1 g/t gold), and a low grade stockpile of about 140,000 tonnes (at an unknown grade) also remains.

Drilling within and below the open pit indicates that mineralisation is continuing at depth with a southerly plunge. Results indicate gold mineralisation over at least 120 metres in horizontal strike  for a depth of at least another 80 metres beneath the open pit.

Deal Terms

The key commercial terms of the option involve an option period of three years with an option payment of $200,000 at the start of each of the first two years, and $100,000 at the start of the third year, for a total of $500,000.

At any time Rox can exercise the Option by paying the vendor $3.5M cash and ownership will revert to Rox 100%. During the first year of the Option Rox will spend a minimum of $500,000.

The exploration tenements in the north-east block (but not M53/127 where the Mt Fisher gold mine is located) are subject to a royalty of $5/oz payable to Delta Gold, now owned by Barrick Gold (NYSE: ABX), for any production up to 500,000 ounces, and a royalty of 9% of net profits payable to CRA Exploration, now Rio Tinto (ASX: RIO), for any production in excess of 500,000 ounces.

Rox intends to investigate the potential extensions of gold mineralisation at depth below the Mt Fisher mine with further drilling.

The Mt Fisher orebody produced a strong EM anomaly (due to the presence of pyrite), so Rox plans to fly an airborne EM survey as a first step to locate more sulphidic chert occurrences which are likely to be gold bearing.

In addition, an 8.5km strike length of ultramafic at Fisher East already contains a number of gold-in-regolith anomalies and is also highly prospective for nickel sulphide mineralisation. The airborne EM will also produce targets along this unit.

The acquisition of the Mt Fisher mine and nearby tenements adds a new valuation changing element to Rox Resources' Myrtle zinc-lead project portfolio.

Mt. Fisher is only 40 kilometres to the east of the prolific Yandal greenstone belt and 100km east of the main Wiluna greenstone belt. The style of mineralisation is very similar to that seen in the Bronzewing area, where Navigator Resources (ASX: NAV) is currently operating.

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Fri, 27 May 2011 13:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161947/rox-resources-acquires-option-to-expand-exploration-footprint-at-mt-fisher-gold-project-16644.html
<![CDATA[News - Rox Resources granted extensive phosphate tenements containing high grade hits ]]> https://www.proactiveinvestors.com.au/companies/news/161946/rox-resources-granted-extensive-phosphate-tenements-containing-high-grade-hits-15468.html Rox Resources (ASX: RXL) has received a major boost in the company's exploration footprint with the granting of two tenements containing high grade phosphate hits.

The extensive 2400 square kilometre land holding has known phosphate occurring along a 20 kilometre strike length, with surface sampling recording outcrop samples up to
39.4% P2O5.

Drilling has recorded high grade intercepts, including:

- 2 metres at 45.8% P2O5;
- 5 metres at 23.7% P2O5;
- 6 metres at 19.9% P2O5;
- 3 metres at 25.1% P2O5; and
- 2 metres at 33.5% P2O5.

Due to these very encouraging samples, the strike and the extensive landholding, Rox has placed a target resource of 50 to 100 million tonnes at 15 to 20% P2O5.

Ian Mulholland, managing director, added “It is pleasing to receive the approval of these exploration licence applications so quickly, which should allow the company to commence field work at Marqua in the near future, dependant on weather conditions.

"Not only does the tenement area contain demonstrated phosphate mineralisation along a significant strike length, but there are also known base metal prospects.

"It really is a prime piece of exploration ground.”

Marqua is well situated to supply phosphate to the growing markets in Asia and North America.

The tenements have been granted for a period of six years.

 

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Wed, 13 Apr 2011 13:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/161946/rox-resources-granted-extensive-phosphate-tenements-containing-high-grade-hits-15468.html