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Rox Resources Ltd.
Summary
| Project: | Collurabbie | |
|---|---|---|
| Deposit: | Olympia | |
| Location: | Australia | |
| Commodities: | Nickel-Copper-Cobalt-Palladium-Platinum | |
| Date: | 8/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-8-2017: Rox Resources Ltd. announces a Resource Estimation report for its Olympia deposit at the Collurabbie project. Initial Inferred Mineral Resource for the Olympia Nickel-Copper-Cobalt-PGE Deposit. Rox Resources Limited (ASX: RXL) (“Rox” or “the Co | |
| Resources: | (Resource, Inf.): 572kt @ 1.63% Ni, 1.19% Cu, 820ppm Co, 1.49ppm Pd, 0.85 ppm Pt at Olympia | |
| CP/QP: | [Resources]: Lauritz Barnes, Will Belbin (Trepanier Pty Ltd.;Internal) | |
| ABSTRACT: | Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce a maiden Inferred Mineral Resource for the Olympia nickel-copper-cobalt-PGE deposit, part of Rox’s Collurabbie project 250km north of Laverton in Western Australia (Figure 1). The Mineral Resource estimate of 573,000 tonnes grading 1.63% Ni, 1.19% Cu, 0.082% Co and 2.33 g/t Pd+Pt (1.49 g/t Pd and 0.85 g/t Pt) at a 1% Ni cut-off grade was undertaken by Trepanier Pty Ltd. Assuming equivalent recoveries of Ni and Cu into concentrate (as per other Western Australian nickel-copper projects), the nickel equivalent grade (NiEq*) would be 2.36%, based on recent metal prices, giving 13,500t NiEq contained metal. Rox Managing Director, Ian Mulholland said: “What a great start to our work at Collurabbie. This maiden Mineral Resource complements the Mineral Resources of 50,000t Ni @ 2.5% Ni that we have established at Fisher East only 70km away. The deposit contains close to 10,000 tonnes of contained nickel with significant copper, and we also expect that the cobalt, platinum and palladium will add significant value.” “We are about to embark on an aircore drilling program at Collurabbie, our first exploration program since we acquired the project. This drilling will test several nickel and gold targets we have developed along the belt over 15km of strike that have had little work for 10 years. We’re quite excited by the potential of this area to host further economic nickel and gold mineralisation.” | |
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