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Rox Resources Ltd.
Summary
| Project: | Fisher East | |
|---|---|---|
| Deposit: | Mt Tate, Sabre North, Cutlass, Horatio, Tomahawk | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-PGM | |
| Date: | 5/31/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-5-2017: Rox Resources Ltd. announces an Exploration/Drilling Update report for its Mt Tate, Sabre North, Cutlass, Horatio, Tomahawk deposit at the Fisher East project. Drilling results incl. 2m @ 1.45% Ni from 94m. Rox Resources Limited (ASX: RXL) (“Ro | |
| Resources: | (Resource, I+I): 4.2Mt @ 1.9% Ni for 78000t Ni contained | |
| CP/QP: | [Overall Report]: Ian Mulholland (Internal) | |
| ABSTRACT: | Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report encouraging results from the recently-completed RC drilling program at Fisher East (ASX:RXL 19 April 2017) (Figures 1 and 2). The program generated the first ever intersection of massive and disseminated nickel sulphides at Mt Tate (Figure 3), and expands the prospectivity of the Fisher East Ultramafic Belt. Rox Managing Director, Mr Ian Mulholland said: “This new discovery at Mt Tate supports our confidence that Fisher East is an extremely fertile Ultrmafic Belt. Mt Tate is now the fifth nickel sulphide mineralised zone we have identified after Camelwood, Musket, Cannonball and Sabre.” “In addition, the indications of nickel sulphides at Cutlass and Sabre North are also encouraging and worthy of follow-up.” “Our Mineral Resources at Fisher East are 2.04 Mt @ 2.5% Ni (at a 1.5% Ni cut-off) for 50,600 tonnes of contained nickel (ASX:RXL 5 February 2016), and we are confident of adding to these resources as we continue to test new targets and drill deeper holes at known deposits.” A 7m thick massive pyrite zone at Mt Tate sits approximately 20m stratigraphically above (downhole because sequence is over-turned) the nickel sulphide zone. This massive pyrite zone was also intersected at Tomahawk. It is significant because it shows that a strong sulphide source is present, which is an essential ingredient to the formation of nickel sulphides. | |
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