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ROX RESOURCES LIMITED — Regulatory Filings 2012
Nov 18, 2012
65741_rns_2012-11-18_f0a91fef-e182-4a58-a218-c648608e1790.pdf
Regulatory Filings
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ROX RESOURCES LIMITED – 22 December 2011
ASX/MEDIA RELEASE
19 November 2012
GROUND EM SURVEY AT FISHER EAST
Highlights
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Ground EM surveys have commenced at Fisher East over VTEM anomalies outlined by Rox
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EM will cover geochemical anomalies where assays in RAB drilling were recently reported up to 0.5% nickel and 500 ppm copper
Rox Resources Limited ( ASX: RXL ) (“ Rox ”) is pleased to announce that ground EM surveys have commenced at its Fisher East prospect which forms part of the Mt Fisher project 450km north of Kalgoorlie in Western Australia (Figure 1).
A Versatile Time Electro-Magnetic (VTEM) survey commissioned by Rox in 2011 identified several anomalies (Figure 2) along the Fisher East ultramafic belt.
Initial RAB drilling over anomaly MFA_05 intersected anomalous nickel geochemistry (ASX 5 October 2012). Subsequent RAB drilling over anomaly MFA_04 defined a significant nickel geochemical anomaly over a 200m strike length with peak values of ~0.5% Ni, ~500ppm Cu and elevated PGE (gold + platinum + palladium) values, up to 100ppb (ASX 7 November 2012).
The coincident VTEM and geochemical anomalies suggest a probable sulphide origin for the anomalies.
The ground EM survey is using fixed and moving loops to better define the targets at Fisher East before drilling.
Examination of the geology intersected in RAB drilling (Figure 3) suggests that the sequence may be overturned, with a felsic metasediment footwall and the basal cumulate zone of the ultramafic (which is usually where nickel sulphide mineralisation occurs) lying on the east side.
ENDS
For more information:
Shareholders
Ian Mulholland Managing Director Tel: +61 8 6380 2966 [email protected]
Media
Tony Dawe/Belinda Newman Professional Public Relations Tel: + 61 8 9388 0944 [email protected] / [email protected]
Rox Resources Limited ABN 53 107 202 602 Level 1, 30 Richardson Street, West Perth WA 6005 Telephone: +61 8 6380 2966 Facsimile: +61 8 6380 2988 Email: [email protected]
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ROX RESOURCES LIMITED – ASX RELEASE 19 November 2012
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Figure 1: Project Location
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Figure 2: Fisher East VTEM Anomalies with Fisher East Ultramafic Belt and Rox Tenements shown
ROX RESOURCES LIMITED – ASX RELEASE 19 November 2012
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Figure 3: Anomaly MFA_04 Northern RAB Line Cross Section
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ROX RESOURCES LIMITED – ASX RELEASE 19 November 2012
About Rox Resources
Rox Resources Limited is an emerging Australian minerals exploration company. The company has four key assets at various levels of development with exposure to gold, nickel, zinc, lead, copper and phosphate, including the Mt Fisher Gold Project (WA), Myrtle/Reward Zinc-Lead Project (NT), the Bonya Copper Project (NT) and the Marqua Phosphate Project (NT).
Myrtle/Reward Zinc-Lead Project (Farm-out Agreement)
Rox has signed an Earn-In and Joint Venture Agreement with Teck Australia Pty Ltd. (“Teck”) to explore its 670km[2] Myrtle/Reward zinc-lead tenements, located 700km south-east of Darwin, Northern Territory. The Myrtle deposit has a current Inferred Mineral Resource of 43.6 Mt @ 5.04% Zn+Pb (Indicated: 5.8 Mt @ 3.56% Zn, 0.90% Pb; Inferred: 37.8 Mt @ 4.17% Zn, 0.95% Pb). Historic drill intercepts of sediment-hosted mineralisation exist at the Teena prospect, including 11.3m @ 10.9% Zn+Pb and 8.6m @ 9.84% Zn+Pb . Under the terms of the agreement, Teck are required to spend A$5m by 31 August 2014 to earn an initial 51% interest. Teck can increase its interest in the project to 70% by spending an additional A$10m (A$15m in total) over an additional 4 years.
Mt Fisher Gold Project (100% + Option)
The Mt Fisher gold project is located in the highly prospective North Eastern Goldfields region of Western Australia and in addition to being well endowed with gold the project hosts a strong potential for nickel. The total project area is 655km[2] , consisting of a 485km[2] area 100% owned by Rox and an Option to purchase 100% of a further 170km[2] . Initial drilling by Rox has defined numerous high-grade targets and defined a Measured, Indicated and Inferred Mineral Resource of 973,000 tonnes grading 2.75 g/t gold to be defined for 86,000 ounces of gold (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).
Bonya Copper Project (Farm-in Agreement)
In October 2012 Rox signed a Farm-in Agreement with Arafura Resources Limited to explore the Bonya Copper Project located 350km east of Alice Springs, Northern Territory. Outcrops of visible copper grading up to 34% Cu and 27 g/tAg are present. Under the agreement, Rox can earn a 51% interest in the copper, lead, zinc, silver, gold, bismuth and PGE mineral rights by spending $500,000 within the first two years. Rox can elect to earn a further 19% (for 70% in total) by spending a further $1 million over a further two years. Once Rox has earned either a 51% or 70% interest it can form a joint venture with Arafura to further explore and develop the area.
Marqua Phosphate Project (100%)
Rox owns four tenements covering approximately 1,900 km[2] in the Northern Territory which comprise the Marqua Phosphate project. The project has the potential for a sizeable phosphate resource to be present, with surface sampling returning values up to 39.4% P2O5 and drilling (including 6m @ 19.9% P2O5 and 5m @ 23.7% P2O5) confirming a 30km strike length of phosphate bearing rocks. In addition to phosphate, there is also potential for lead-zinc mineralisation. The project is located 300km southwest of Mt Isa, and is situated 250km from the nearest railhead and gas pipeline at Phosphate Hill.
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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