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ROX RESOURCES LIMITED Capital/Financing Update 2005
65741_rns_2005-06-01_34db10be-09e2-4ee6-aa7f-8d98f1187caa.pdf
Capital/Financing Update
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ASX AND MEDIA RELEASE 2 June 2005
Drilling To Commence at Pha Luang Zinc Project in Laos
Rox Resources Limited (ASX: RXL; "Rox") today advised that drilling is anticipated to commence at the Pha Luang zinc project in Laos within the next week.
In April 2005 Rox negotiated the right to acquire a 60% interest in the sulphide portion of the project and is undertaking this drilling campaign as part of its due diligence prior to making a final decision to purchase the project.
At Pha Luang there are a number of zinc oxide outcrops and three of these will be tested by up to 600 metres of diamond core drilling; Pha Luang 2, Pha Luang 3 and Bon Noi.
Recent rock chip sampling of oxide-carbonate outcrops at various target areas (see attached map) confirmed the tenor and extent of surface mineralisation. Selected results are given below.
| Zn % | $Pb\%$ | Ag ppm | |
|---|---|---|---|
| Pha Luang 2 | 45.80 | 0.76 | 24 |
| Pha Luang 3 | 53.30 | 0.59 | 5 |
| Bon Noi | 29.40 | 21.20 | 161 |
| Gao Noi | 2.31 | 60.90 | 485 |
| Switchback #23 | 52.00 | 0.45 | 38 |
| Switchback #25 | 26.10 | 0.86 | 10 |
The drilling is expected to take about 30 days.
$-$ Ends $-$
FOR FURTHER INFORMATION CONTACT:
Ian Mulholland, Managing Director Tel: (08) 9486 4537
Ann Nahajski, Porter Novelli Tel: (08) 9386 1233
The information on mineralisation contained in this statement accurately reflects information compiled by Mr Ian Mulholland B.Sc (Hons), M.Sc., F.Aus.I.M.M., F.A.I.G., who is a Competent Person (as defined by the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves) with relevant experience in relation to such mineralisation. Mr Mulholland has given permission for the information to be included in this statement, and is a full time employee of the Company.
