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Rox Resources drilling to upgrade nickel potential at Fisher East

The nickel sulphides at Musket returned grades of more than 20% nickel.
Rox Resources drilling to upgrade nickel potential at Fisher East
Rox is well funded with a cash balance of $15 million

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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Rox Resources Ltd Timeline

Newswire
October 14 2016

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