logo-loader
Rox Resources Limited

Rox Resources drilling to upgrade nickel potential at Fisher East

The nickel sulphides at Musket returned grades of more than 20% nickel.

WA---757x468.jpg
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.

Quick facts: Rox Resources Limited

Price: $0.03

Market: ASX
Market Cap: $33.57 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Rox Resources Limited named herein, including the promotion by the Company of Rox Resources Limited in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Rox Resources continues drilling at Youanmi Gold Project

Rox Resources (ASX:RXL) chief executive officer Alex Passmore updates Proactive Investors on progress at the Youanmi Gold Project in WA. Passmore says the company, which has been drilling at the project for the last couple of weeks, is set to continue drilling until September. “The Youanmi...

on 13/8/19

2 min read