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ROX RESOURCES LIMITED — Investor Presentation 2013
Sep 2, 2013
65741_rns_2013-09-02_de7087bf-6fbf-415e-ac85-9007460366b5.pdf
Investor Presentation
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ASX: RXL
Ian Mulholland, Managing Director
Rox Resources Presentation
AMEC Conference – 3 September 2013
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Competent Person Statement
The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Ian Mulholland BSc (Hons), MSc, FAusIMM, FAIG, FSEG, MAICD, who is a Fellow of The Australasian Institute of Mining and Metallurgy and a Fellow of the Australian Institute of Geoscientists. Mr Mulholland has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Mulholland is a full time employee of the Company and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
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Investment Highlights
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Recent significant nickel sulphide discovery at Camelwood in WA
Significant zinc drill intersections at Teena prospect in NT, incl 26.4m @ 13.3% Zn+Pb & 20.1m @ 15.0% Zn+Pb Projects with exposure to base (nickel, zinc, lead, copper) and precious (gold & silver) metals All in Australia = low sovereign risk
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Company Snapshot
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Rox Capital Structure (31 Aug 2013)
ASX Code: RXL
Issued Shares: 590.8m
Options: 9.05m (in the money)
Market Cap: $28.4m (at 4.8c)
Cash: $2.9m ( 30 June )
$0.12
$0.10 200
$0.08
150
$0.06
100
$0.04
50
$0.02
$0.00 0
Million
01-Sep-12 01-Oct-12 01-Nov-12 01-Dec-12 01-Jan-13 01-Feb-13 01-Mar-13 01-Apr-13 01-May-13 01-Jun-13 01-Jul-13 01-Aug-13
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Experienced Board & Management
Managing Director: Ian Mulholland (Geologist) Chairman: Jeff Gresham (Geologist) Finance Director: Brett Dickson (Accountant) Exploration Manager: Will Belbin Major Shareholders
| HSBC Nominees Rox Directors Teck Australia |
3.5% 3.1% 1.7% |
|---|---|
| Top 20 | 27.1% |
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Rox Projects
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- Mt Fisher Gold, &
Fisher East Nickel Project acquired from Avoca in 2011, plus Option to Purchase deal on Fisher East
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Reward Zinc Project, Earn-in by Teck for $15m
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Bonya Copper
Project earn-in by Rox for $1.5m
• Marqua Phosphate Project pegged in 2009
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Reward Zinc Project
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High grade zinc discovery at Teena prospect in August 2013:
26.4m @ 13.3% Zn+Pb, including 8.1m @ 8.7% Zn+Pb from 1060.1m, and 16.2m @ 17.2% Zn+Pb from 1070.3m, including 8.0m @ 21.2% Zn+Pb from 1071.0m
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20.1m @ 15.0% Zn+Pb from 944.3m including 12.5m @ 19.5% Zn+Pb, from 951.5m, including 5.0m @ 25.4% Zn+Pb f rom 954.0m cf: McArthur River Deposit Resource Grade of 13.4% Zn+Pb
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Reward Zinc Location
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SEDEX style zinc deposits, similar to McArthur River and Mt Isa
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Teck in a $15M Earn-in JV (to 70%) – have spent $5.2m and earned 51% so far
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Spectacular drill hits at Teena Prospect:
26.4m @ 13.3% Zn+Pb including
16.2m @ 17.2% Zn+Pb
20.1m @ 15.0% Zn+Pb including
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Reward Project
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12.5m @ 19.5% Zn+Pb
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Myrtle Deposit Resource 43.6 Mt @ 4.05% Zn, 0.95% Pb, 5.04% Zn+Pb* , 2.2 Mt zinc + lead metal
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Myrtle Resource
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Indicated: 5.8 Mt @ 3.56% Zn, 0.90% Pb
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Inferred: 37.8 Mt @ 4.17% Zn, 0.95% Pb
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Reward Zinc Prospects
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Resource [1] :
227Mt @
13.4% Zn+Pb
Resource [2] :
44Mt @
1 Xstrata and other public information 5.0% Zn+Pb
2 See previous slide
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Tenement area is 670km[2 ]
McArthur River is one of the world’s great zinc deposits
Myrtle was our first indication that there might be other significant deposits in the area Previously unreported historic drill data on Teena located by Teck in 2012
Data indicated significant mineralisation at Teena, incl. 11.3m @ 10.9% Zn+Pb from 908.8m
Drilling program initiated by Teck at Teena in 2013
Significant drill intersections at Teena in 2013 Several other Zn-Pb prospects still to investigate within the tenements
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Teena Zinc Discovery
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Host basin is at least
1.3km east-west and
0.75km north-south
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Stratiform style zinclead mineralisation drilled
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First hole, TNDD009, exceeded grade and thickness of old holes
Second hole, TNDD010, 200m to west of
1.3km
TNDD009, returned even better grades
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Third hole, 500m west of TNDD010, just completed – results in 2-3 weeks
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Teena Cross Section
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Historic holes Teena 4 & 4A were drilled close to the Bald Hills Fault – brecciated ore First hole, TNDD009, exceeded the results in historic holes 4 & 4A Stratiform style zinc-lead mineralisation drilled Basin is very deep, with 116m interval of mineralisation in TNDD009 from 1,012m
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Teena Drill Core – TNDD009
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8m @ 18.4% Zn, 2.9% Pb (21.3% Zn+Pb) from 1071.0m
Zn:Pb = 6.5:1
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Fisher East Nickel Project
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New nickel sulphide discovery in December 2012 at Camelwood prospect:
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6.4m @ 3.8% Ni from 282.6m, from 11.4m @ 2.9% Ni 6.3m @ 2.5% Ni from 211.7m, from 16.3m @ 1.8% Ni
6.2m @ 3.3% Ni from 341.1m 2.7m @ 5.2% Ni from 483.0m
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Fisher East Nickel Location
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Mt Fisher Project located 150km northeast of Leinster, WA in North Eastern Goldfields of WA
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Mt Fisher Greenstone Belt, 300km long, 655km[2] tenement area ~ 25% of MFGB
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Agnew-Wiluna Belt , major nickel mines ( 55% of WA Ni total ; 7Mt out of 12.7Mt), 10 Moz gold,
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Nickel sulphide discovery at Fisher East – Opens up a major new area for nickel exploration
Ni Occurrences 13
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Camelwood Nickel Discovery
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Recognition of nickel gossan by Rox geologists in RAB drilling over VTEM anomaly at Camelwood
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Discovery RC hole drilled in December 2012 5,200m of RC and 15,152m of diamond drilling now completed within 6 months Drilling has defined continuous nickel sulphide mineralisation over 1.2km of strike and down to over 500m depth Drill spacing of 50 x 50m still quite wide for this type of deposit
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Short hiatus in drilling while we do a data and resource audit before deciding on further drilling and resource definition programs
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Strong regional potential
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Cross Section
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Nickel sulphides occur at “basal contact” of ultramafic
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Sulphides are coincident with the EM conductor
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Basal contact is over-turned Variable grade and thickness (typical of deposit type) Classic Archaean Greenstone Komatiite-hosted (Kambalda-type) nickel sulphide deposit
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Occur in shoots and lenses in lava channels
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Long Section
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Main Zone Northern Zone
Downhole EM 50 x 50m 100 x 100m
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Exploration Potential
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EM conductors along eastern edge, i.e. Camelwood, Corktree and Silverbark Other EM anomalies
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Only Camelwood tested so far Compilation of geochemical data - RAB and auger soils - anomalous Ni & Cu values Detailed 50m line spaced magnetics recently flown Multiple ultramafic horizons – line up with geochemical trends Significant magnetic gaps Fisher East Ultramafic = 15km of strike Numerous compelling drill targets
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Gold Endowment
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Mt Fisher mine, historic production 4,000 oz underground (1930’s) and 22,500 oz open cut (1980’s) - extends below open cut Excellent target at Dam Central for multi-million ounce Bronzewing type gold deposit, major goldin-regolith anomaly – 7km in strike length Total interim gold resource of 973,000 t @ 2.75 g/tAu* (86,000 ounces) defined at Mt Fisher, Moray Reef and Damsel
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- Measured: 171,900 tonnes grading 4.11 g/t Au, Indicated: 204,900 tonnes grading 2.82 g/t Au, Inferred: 596,200 tonnes grading 2.34 g/t Au
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The Road Ahead
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Drilling ongoing at Teena Zinc – third hole assays in 2-3 weeks – fourth hole now underway Data audit and resource extension drilling at Camelwood Exploration of regional nickel targets at Fisher East
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