Proactiveinvestors United Kingdom Rox Resources Ltd https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Rox Resources Ltd RSS feed en Wed, 24 Jul 2019 05:40:51 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Rox Resources Ltd targets nickel sulphides at Fisher East ]]> https://www.proactiveinvestors.co.uk/companies/news/165291/rox-resources-ltd-targets-nickel-sulphides-at-fisher-east-70749.html Rox Resources Ltd (ASX:RXL) has commenced a 3,000 metre aircore drilling program at the Fisher East nickel sulphide project located 500 kilometres north of Kalgoorlie in Western Australia.

The drilling program will focus on the Mt Tate and Horatio prospects and three other electromagnetic anomalies.

Previous drilling at Mt Tate and Horatio has returned assays grading over 1% nickel.

The Fisher East project has a mineral resource of 4.2 million tonnes grading 1.9% nickel for 78,000 tonnes of contained nickel metal.

Nickel prices have recently reached A$14,000 per tonne and supply issues in the Philippines and elsewhere is expected to continue to drive up the prices.

Interestingly, Rox has already entered into an earn-in with Doray Minerals Ltd (ASX:DRM) who will fund up to $10 million for up to 75% interest in the gold resources at Mt Fisher.

The earn-in joint venture covers tenements at Mt Fisher which are prospective for gold, but specifically excludes the Fisher East nickel project tenements.

Earlier this month, Rox accepted a $21 million offer from Marindi Metals Ltd (ASX:MZN) for Rox’s 49% interest the Reward zinc-lead project, which includes a $8 million cash component.

The new funds will enable the company to fast track drilling and potentially boost the nickel resources at Fisher East, in light of the 35% rise in nickel prices since the start of 2016.

The aircore drilling program is expected to take about 10 days to complete, with assay results available within 3-4 weeks after that.

 

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Wed, 31 Aug 2016 08:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165291/rox-resources-ltd-targets-nickel-sulphides-at-fisher-east-70749.html
<![CDATA[News - Rox Resources Ltd could be about to receive its rewards ]]> https://www.proactiveinvestors.co.uk/companies/news/165290/rox-resources-ltd-could-be-about-to-receive-its-rewards-70362.html Rox Resources Ltd (ASX:RXL) has been granted an ASX trading halt late in the session today, pending details of a new offer for its interest in the Reward project.

The project is located in the Northern Territory, and hosts an Inferred Resource of 58 million tonnes at 12.7% zinc+lead.

Rox holds 49%, Teck 51%.

The halt will remain in place until the opening of trade on Friday 12th August 2016, or earlier if an announcement is made to the market.

 

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Wed, 10 Aug 2016 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165290/rox-resources-ltd-could-be-about-to-receive-its-rewards-70362.html
<![CDATA[News - Rox Resources Ltd to reveal offer ]]> https://www.proactiveinvestors.co.uk/companies/news/165289/rox-resources-ltd-to-reveal-offer-70296.html Rox Resources Ltd (ASX:RXL) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Rox said it requested the halt pending an offer for its interest in the Reward project.

The halt will remain in place until the opening of trade on Wednesday 10th August 2016, or earlier if an announcement is made to the market.

 

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Mon, 08 Aug 2016 16:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/165289/rox-resources-ltd-to-reveal-offer-70296.html
<![CDATA[News - Rox Resources Ltd heads to market ]]> https://www.proactiveinvestors.co.uk/companies/news/161966/rox-resources-ltd-heads-to-market-69950.html Rox Resources Ltd (ASX:RXL) has been granted a trading halt by the ASX this morning, pending details of a capital raising.

The halt will remain in place until the opening of trade on Monday 25th July 2016, or earlier if an announcement is made to the market.

 

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Thu, 21 Jul 2016 12:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/161966/rox-resources-ltd-heads-to-market-69950.html
<![CDATA[News - Rox Resources Ltd is Wednesday's ASX Most Traded with 215 million ]]> https://www.proactiveinvestors.co.uk/companies/news/161965/rox-resources-ltd-is-wednesdays-asx-most-traded-with-215-million-68978.html Wednesday's ASX Volume Leaders at the close.

Company NameCodeLastChangeVolume Rox Resources Ltd RXL $0.029 107.14% 215,965,576 TV2U International Ltd TV2 $0.044 -4.35% 94,662,977 Capital Mining Ltd CMY $0.006 0% 63,051,054 AnaeCo Ltd ANQ $0.002 100% 55,413,381 xTV Networks Ltd XTV $0.011 10% 49,596,741 Austin Exploration Ltd AKK $0.008 0% 44,227,933 Latin Resources Ltd LRS $0.014 0% 37,312,248 Xped Ltd XPE $0.093 -5.10% 37,151,783 Sky and Space Global Ltd SAS $0.024 -14.29% 34,589,822 Atlas Iron Ltd AGO $0.014 -6.67% 33,785,913

 

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Thu, 02 Jun 2016 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/161965/rox-resources-ltd-is-wednesdays-asx-most-traded-with-215-million-68978.html
<![CDATA[News - Rox Resources granted ASX trading halt ]]> https://www.proactiveinvestors.co.uk/companies/news/161964/rox-resources-granted-asx-trading-halt-65334.html Rox Resources (ASX:RXL) is preparing to head to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The explorer has been busy during the September 2015 quarter, and carried out aircore drilling and prefeasibility studies on the Fisher East nickel sulphide project in Western Australia.

It also received assays from drilling at the Teena prospect (Reward zinc project) in the Northern Territory.

The halt will remain in place until the opening of trade on Monday 2nd November 2015, or earlier if an announcement is made to the market.

 

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Thu, 29 Oct 2015 10:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/161964/rox-resources-granted-asx-trading-halt-65334.html
<![CDATA[News - Rox Resources readies to raise ]]> https://www.proactiveinvestors.co.uk/companies/news/161963/rox-resources-readies-to-raise-62771.html Rox Resources (ASX:ROX) is preparing to reveal details of a capital raising.

The ASX has granted the company a trading halt, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Wednesday 10th June 2015, or earlier if an announcement is made to the market.

 

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Fri, 05 Jun 2015 12:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/161963/rox-resources-readies-to-raise-62771.html
<![CDATA[News - Rox Resources has a material announcement pending ]]> https://www.proactiveinvestors.co.uk/companies/news/161962/rox-resources-has-a-material-announcement-pending-54510.html Rox Resources (ASX: RXL) has been granted a trading halt by the ASX today, with its shares placed in pre-open.

Rox requested the halt pending drilling results.

The halt will remain in place until the opening of trade on Tuesday 29th April 2014, or earlier if an announcement is made to the market.



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Thu, 24 Apr 2014 16:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/161962/rox-resources-has-a-material-announcement-pending-54510.html
<![CDATA[News - Rox Resources granted trading halt to raise capital ]]> https://www.proactiveinvestors.co.uk/companies/news/161961/rox-resources-granted-trading-halt-to-raise-capital-53665.html Rox Resources (ASX: RXL) is heading to market with a capital raising, with the ASX granting the company a trading halt and pre-open status.

Earlier in the month RXL hit the heights following further significant widths and high grades, including a best nickel hit yet of 2 metres at 8.1% nickel intercept from drilling at a prospect at its Fisher East nickel project in Western Australia.

The results continue to show there is potential for multiple deposits at the project.

Drilling consisted of 14 holes for 2,663 metres to further define the high grade zones at the two new nickel sulphide discoveries made by Rox at Musket and Cannonball. 

These were along the strike of the Camelwood ultramafic unit.

The halt will remain in place until the opening of trade on Monday 17th March 2014, or earlier if an announcement is made to the market.

 

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Thu, 13 Mar 2014 17:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/161961/rox-resources-granted-trading-halt-to-raise-capital-53665.html
<![CDATA[Media files - Rox Resources Managing Director Ian Mulholland speaks to Proactive Investors at RIU Explorers Conference about catalysts for investors ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/5879/rox-resources-managing-director-ian-mulholland-speaks-to-proactive-investors-at-riu-explorers-conference-about-catalysts-for-investors-375.html Wed, 12 Mar 2014 11:04:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/5879/rox-resources-managing-director-ian-mulholland-speaks-to-proactive-investors-at-riu-explorers-conference-about-catalysts-for-investors-375.html <![CDATA[News - Rox Resources in best nickel hit yet at Fisher East ]]> https://www.proactiveinvestors.co.uk/companies/news/161960/rox-resources-in-best-nickel-hit-yet-at-fisher-east-53451.html Rox Resources (ASX: RXL) has hit the heights following further significant widths and high grades, including a best nickel hit yet of 2 metres at 8.1% nickel intercept from drilling at a prospect at its Fisher East nickel project in Western Australia.

The results continue to show there is potential for multiple deposits at the project.

Drilling consisted of 14 holes for 2,663 metres to further define the high grade zones at the two new nickel sulphide discoveries made by Rox at Musket and Cannonball.  

These were along the strike of the Camelwood ultramafic unit.

Other significant high grade massive nickel intersections from recent RC drilling at Musket prospect included:

- 8m at 3.3% nickel from 227 metres (the 2m at 8.1% Ni was part of this)
- 4m at 3.2% Ni and 4m at 2.5% Ni within 17m at 2.2% Ni from 214 metres

While at Cannonball, four additional RC drill holes were completed with three of them intersecting high grade mineralisation.

The widths are narrower than at Musket but the high grade and massive nature of the mineralisation developing with increasing depth looks to be encouraging.

Highlights here were:

- 1m at 4.5% Ni from 176m downhole in hole MFEC052,
- 1m at 4.2% Ni from 199m downhole in hole MFEC053.

Assay results for hole MFEC063 are pending, but visually 1 metre of massive sulphide was intersected.

Rox will drill adjacent to holes MFEC059 and 065 by the end of March to try extend the depth and extent of the high grade massive sulphide mineralisation.

With the high grade nickel intersection, the probability of a substantial nickel sulphide mineral resource looks to be statistically high.


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Thu, 06 Mar 2014 16:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/161960/rox-resources-in-best-nickel-hit-yet-at-fisher-east-53451.html
<![CDATA[News - Rox Resources in pre-open, material drilling result pending ]]> https://www.proactiveinvestors.co.uk/companies/news/161959/rox-resources-in-pre-open-material-drilling-result-pending-53287.html Rox Resources' (ASX: RXL) is preparing to reveal some material drilling results, with the ASX granting the company a trading halt this morning.

RXL's shares are currently in pre-open.

Earlier in the month reverse circulation drilling re-commenced at Fisher East to follow-up nickel sulphide discoveries at Musket and Cannonball.

The drilling is testing previously defined mineralisation at deeper levels.

There is up to a 3 kilometre strike length of potential nickel sulphide mineralisation extending from Camelwood to Musket, open at depth and largely unexplored.

The halt will remain in place until the opening of trade on Tuesday 4th March 2014, or earlier if an announcement is made to the market.


Ian Mulholland, managing director of RXL, StockTube from RIU Explorers conference in Fremantle.

 

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Fri, 28 Feb 2014 12:40:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/161959/rox-resources-in-pre-open-material-drilling-result-pending-53287.html
<![CDATA[News - Rox Resources in pre-open, material exploration results ]]> https://www.proactiveinvestors.co.uk/companies/news/161958/rox-resources-in-pre-open-material-exploration-results-51181.html Rox Resources (ASX: RXL) is preparing to reveal details of material exploration results, with the ASX granting the company a trading halt - with its shares placed in pre-open.

Earlier in the month Rox kicked off a reverse circulation drilling program at its Fisher East nickel sulphide project, 500 kilometres north of Kalgoorlie in Western Australia.

In November Rox made a new nickel sulphide discovery at the project.

The halt will remain in place until the opening of trade on Wednesday 18th December 2013, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 16 Dec 2013 13:20:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/161958/rox-resources-in-pre-open-material-exploration-results-51181.html
<![CDATA[Media files - Rox Resources MD Ian Mulholland speaks with Proactive Investors on recent discoveries ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/5878/rox-resources-md-ian-mulholland-speaks-with-proactive-investors-on-recent-discoveries-346.html Tue, 26 Nov 2013 11:54:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/5878/rox-resources-md-ian-mulholland-speaks-with-proactive-investors-on-recent-discoveries-346.html <![CDATA[News - Rox Resources targeting massive sulphide accumulations at Bonya, Northern Territory ]]> https://www.proactiveinvestors.co.uk/companies/news/161957/rox-resources-targeting-massive-sulphide-accumulations-at-bonya-northern-territory-48970.html Rox Resources (ASX: RXL) has commenced an airborne electro-magnetic survey at its Bonya project, 350 kilometres east of Alice Springs in the Northern Territory.

The survey is designed to detect electro-magnetic conductors, such as sulphide accumulations, at depths of up to 1 kilometre.

Rox is targeting mineralisation similar to the adjacent Jervois copper deposits which contain massive and stringer zones of chalcopyrite (copper sulphide) and pyrite (iron sulphide) mineralisation.

Results should be available by late November, will be used to identify and prioritise drilling targets.

Surface mapping and general prospecting has identified a number of geochemical targets and the survey, covering 174 square kilometres, will cover these targets and seek to identify further targets lacking surface expression.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 10 Oct 2013 15:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/161957/rox-resources-targeting-massive-sulphide-accumulations-at-bonya-northern-territory-48970.html
<![CDATA[News - Rox Resources intersects up to 14.2m at 18.4% zinc and lead in the Northern Territory ]]> https://www.proactiveinvestors.co.uk/companies/news/161956/rox-resources-intersects-up-to-142m-at-184-zinc-and-lead-in-the-northern-territory-48147.html Rox Resources’ (ASX: RXL) shares are poised to rise today after reporting high grade zinc results of up to 14.2 metres at 18.4% zinc and lead from the current drilling program at the Teena prospect of its Reward zinc project in the Northern Territory.

The third diamond drill hole has also extended the strike length of high grade mineralisation to at least 700 metres while additional assays of the second hole have defined more zones of mineralisation.

TNDD011 – the third hole – intersected 20.3 metres at 13.9% zinc and lead from 901 metres including 16.3 metres at 16.5% zinc and lead from 905 metres that in turn contains the peak intersection from 907.1 metres.

At TNDD010, additional assays have defined more zones of zinc and lead mineralisation over an almost 350 metre thick mineralised section from 908.8 metres.

Notable results from this zone include:

-    7.8 metres at 8.7% zinc and lead from 988.8 metres;
-    9.7 metres at5.7% zinc and lead from 1124.0 metres;
-    22.0 metres at 3.9% zinc and lead from 1169.0 metres; and
-    19.8 metres at 2.7% zinc and lead from 1212.2 metres.

Further strike length increases are possible with historic drilling indicating that the higher grade mineralised zone could exceed 1.6 kilometres.

 

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Wed, 18 Sep 2013 12:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/161956/rox-resources-intersects-up-to-142m-at-184-zinc-and-lead-in-the-northern-territory-48147.html
<![CDATA[News - Rox Resources shares to spike on zinc discovery in Northern Territory ]]> https://www.proactiveinvestors.co.uk/companies/news/161955/rox-resources-shares-to-spike-on-zinc-discovery-in-northern-territory-46361.html Rox Resources' (ASX: RXL) shares should jump this afternoon as they resume trading after a zinc discovery in the first hole of a drilling at the Teena prospect saw both widths and high grade zinc encountered at the Reward project in the Northern Territory.

The first drill hole intersected at Teena prospect saw a 116 metre interval of variable mineralisation from 1,012 metres and notably had significant widths and grades including 26.4 metres at 13.3% zinc+lead, including 16.2 metres at 17.2% zinc+lead.

Even better for Rox, the drilling program is being managed by Teck Australia under an Earn-in Agreement with Rox, with Teck funding all drilling and other exploration costs.

The second hole, approximately 200 metres west of the first, has intersected visually similar mineralisation, drilling is ongoing with results to come.

There were similarities drawn with the the adjacent McArthur River zinc mine discovery, 10 kilometres away with its average grade of 13.1% Zn+Pb, which is comparable to the first hole at Teena grading 13.3% Zn+Pb.

McArthur River zinc mine is owned by GlencoreXstrata and is one of the world's largest zinc, lead and silver mines.

With a 4,500 metre drilling program underway, and drilling success seen in the first hole, it would be a brave man to bet against further discoveries by program manager, Teck.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 05 Aug 2013 14:20:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/161955/rox-resources-shares-to-spike-on-zinc-discovery-in-northern-territory-46361.html
<![CDATA[News - Rox Resources preparing to release "material exploration results" ]]> https://www.proactiveinvestors.co.uk/companies/news/161954/rox-resources-preparing-to-release-material-exploration-results-46290.html Rox Resouces (ASX:RXL) may be looking at significant exploration results from the Mt Fisher gold nickel project in Western Australia which hosts the Camelwood nickel sulphide discovery.

Rox has requested a trading halt to digest and announce "material exploration results."

Drilling at Camelwood has had a very high success rate with 25 of the 27 diamond core holes drilled intersecting mineralisation.

Camelwood nickel sulphide discovery expanded with 10,630 metres of diamond drilling and 1,284 metres of RC drilling completed during the quarter.

Drilling extended the deposit dimensions to over 1.2 kilometres in strike length and down to over 500 metres depth, still open along strike and at depth.

Drill intercepts during the quarter included 3.3 metres grading 1.9% nickel, including 0.8 metres grading 5.0% Ni and o 5.3 metres grading 2.4% Ni, including 0.5 metres grading 6.7% Ni.

 


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

 

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Fri, 02 Aug 2013 12:40:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/161954/rox-resources-preparing-to-release-material-exploration-results-46290.html
<![CDATA[News - Rox Resources extends Camelwood project with new exploration licence ]]> https://www.proactiveinvestors.co.uk/companies/news/46503/rox-resources-extends-camelwood-project-with-new-exploration-licence-55480.html Rox Resources (ASX: RXL) has secured an additional exploration licence that covers a sub-block along the southeastern extension of its Camelwood nickel sulphide deposit at Fisher East, Western Australia.

The Department of Mines and Petroleum granted tenement E53/1716, which covers a 3.07 square kilometre area.

“The grant of this tenement completes our landholding at Fisher East, and will enable us to commence step back drilling along the south-eastern portion of the deposit, once the necessary approvals have been received,” managing director Ian Mulholland said.

Under the terms of a heritage protection protocol agreed with the local native title parties, the next step will be an ethnographic heritage survey.

Rox currently has an ongoing exploration program underway at Fisher East, and once the heritage survey is completed and approval of a Program of Works (PoW) is received from the Department of Mines and Petroleum, step back drilling can commence on E53/1716.

The company had earlier this week intersected high grade nickel at Camelwood with notable intercepts of 1.2 metres at 5.2% nickel including 0.7 metres at 7.8% nickel from 388.7 metres and 3.1 metres at 3.4% nickel from 384.6 metres.

Continued reverse circulation drilling has also extended the strike length of nickel sulphide mineralisation to over 800 metres.

Diamond drilling is continuing to test down dip extensions of the nickel sulphide mineralisation intersected by nearer surface drilling.

Reverse circulation drilling is ongoing, drilling a number of shallow 50m metre infill sections as well as continuing to define extensions to the north.

Rox had $1.88 million in cash as of 31 December 2012.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 05 Apr 2013 06:48:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/46503/rox-resources-extends-camelwood-project-with-new-exploration-licence-55480.html
<![CDATA[News - Rox Resources hits more high grade nickel at Camelwood ]]> https://www.proactiveinvestors.co.uk/companies/news/46456/rox-resources-hits-more-high-grade-nickel-at-camelwood-55424.html Rox Resources (ASX: RXL) has intersected high grade nickel at its Camelwood nickel sulphide prospect at Fisher East, Western Australia.

Notable intercepts from drilling at the project include:

-    1.2 metres at 5.2% nickel including 0.7 metres at 7.8% nickel from 388.7 metres; and
-    3.1 metres at 3.4% nickel from 384.6 metres.

In addition, Platinum Group Element assays from a diamond hole have been received with the results for the previously reported intercept being 11.4 metres at 0.57 grams per tonne PGE including 6.4 metres at 0.73g/t PGE that further includes higher grade zone of 2.9 metres at 0.81g/t PGE.

Continued reverse circulation drilling has also extended the strike length of nickel sulphide mineralisation to over 800 metres.

“The results we are receiving are demonstrating excellent prospects for economic grades and thicknesses at Camelwood," managing director Ian Mulholland said.

"The massive sulphide portions of the system are consistently showing grades in the 4.5 to 5.5% nickel range, with 7.8% nickel the highest grade reported to date, while the strongly disseminated and semi-massive zones are showing grades between 2.5 and 3.5% nickel.

"A much better picture of the distribution of nickel sulphide mineralisation is starting to emerge as we continue to drill more holes”.

Diamond drilling is continuing to test down dip extensions of the nickel sulphide mineralisation intersected by nearer surface drilling.

Reverse circulation drilling is ongoing, drilling a number of shallow 50m metre infill sections as well as continuing to define extensions to the north.

Rox is also planning to test the deeper Camelwood North electromagnetic conductor located about 500 metres north of Camelwood within the next three weeks.

This conductor appears to be a down faulted offset from the main Camelwood EM conductor.

Rox had $1.88 million in cash as of 31 December 2012.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 04 Apr 2013 04:47:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/46456/rox-resources-hits-more-high-grade-nickel-at-camelwood-55424.html
<![CDATA[News - Rox Resources hits more massive sulphides from drilling at Camelwood ]]> https://www.proactiveinvestors.co.uk/companies/news/46099/rox-resources-hits-more-massive-sulphides-from-drilling-at-camelwood-55006.html Rox Resources (ASX:RXL) has returned its best visual intercept to date from drilling at the Camelwood nickel sulphide prospect at Fisher East in Western Australia.

Hole MFEC014 returned 4 metres of massive and 4 metres of semi-massive sulphides included in 30 metres of mineralisation from 144 metres from RC drilling. 

This included 25 metres of disseminated sulphides.

RC hole MFEC014 was drilled 350 metres north of diamond hole MFED001.

Diamond drill hole assays exceeded visual estimates, with 16.3 metres at 1.8% nickel, including 6.3m at 2.5% nickel and 0.47 metres at 5.4% nickel from 212.0 metres (semi massive sulphides) in diamond hole MFED002.

Significantly, hole MFED002 was drilled 100 metres south of the first diamond drill hole, MFED001.

Hole MFED003 was drilled a further 100 metres south of diamond hole MFED002 and returned:

- 7.5m @ 1.2% Ni, including 0.4m @ 3.8% Ni from 178.3m (semi-massive sulphide)

Rox managing director, Ian Mulholland said: “This RC result is particularly pleasing being the thickest and most near-surface massive sulphide intersection to date.”

Ongoing drilling

Diamond drilling is continuing at Camelwood in the vicinity of holes MFED001 and 002, but will move soon to test the Camelwood North EM conductor located approximately 500m north of Camelwood.

This conductor appears to be a down faulted offset from the main Camelwood EM conductor.

RC drilling is continuing on 50 metres infill sections along the 700m strike length of Camelwood, plus testing extensions to the north.

The next assays from holes MFED004 to 006 are expected in one to two weeks.

Camelwood nickel sulphide prospect at Fisher East is located 450 kilometres north of Kalgoorlie in Western Australia.

 

Analysis

Hole MFEC014 was drilled 350 metres north of diamond hole MFED001 and returned a significant intersection at Camelwood from RC drilling. Drilling continues to hit the mark.  The story at Mt Fisher continues to build.

 


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Thu, 21 Mar 2013 05:59:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/46099/rox-resources-hits-more-massive-sulphides-from-drilling-at-camelwood-55006.html
<![CDATA[News - Rox Resources appoints new exploration manager ]]> https://www.proactiveinvestors.co.uk/companies/news/45927/rox-resources-appoints-new-exploration-manager-54808.html Rox Resources (ASX:RXL) has appointed its senior geologist Will Belbin to the position of exploration manager.

Belbin has been in the industry for over 10 years and since 2011 has been Rox's senior exploration geologist. He has played a pivotal role in the discovery of the Camelwood nickel sulphide prospect at Fisher east, in Western Australia.

As Exploration Manager, Belbin will oversee the exploration activities across Rox Resources suite of projects, which include the Reward zinc-lead project, Bonya copper project and Marqua phosphate project all of which are located in the Northern Territory.

Rox recently made significant finds at its Camelwood nickel propsect which intersected semi-massive to massive and disseminated nickel sulphide mineralisation in a numberof holes along a 700 metres strike length and up to 350 metres depth, with mineralisation open in all direction.

Belbin holds a Bachelor of Science in Geology from The University of Western Australian and prior to joining Rox, worked as a senior exploration geologist for Newexco Services.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 15 Mar 2013 03:31:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/45927/rox-resources-appoints-new-exploration-manager-54808.html
<![CDATA[News - Rox Resources extends Camelwood nickel sulphide strike length ]]> https://www.proactiveinvestors.co.uk/companies/news/45849/rox-resources-extends-camelwood-nickel-sulphide-strike-length-54704.html Rox Resources’ (ASX: RXL) reverse circulation drilling has extended to at least 700 metres, the strike length of mineralisation at the Camelwood nickel sulphide prospect at the Fisher East Project in Western Australia.

“We still have a 100% success rate in hitting nickel sulphide mineralisation in all holes drilled so far,” managing director Ian Mulholland noted about the company’s ongoing drilling campaign.

The increased strike length follows the ninth hole intersecting 1 metre of semi-massive and 9 metres of disseminated sulphide mineralisation from 153 metres.

An assay of 22 metres at 1.42% nickel from 118 metres including 9 metres at 2.04% nickel from 119 metres has also being received from a hole MFEC010 about 100 metres to the south.

Further reverse circulation drilling to the north is ongoing.

Rox also noted that three diamond holes have intersected sulphides:

-    MFED006 intersected 0.55 metres of massive sulphide followed by 2 metres of disseminated sulphide before being truncated by the same fault as in hole MFED005;
-    MFED007 intersected 0.7 metres of massive and 0.3 metres of semi-massive sulphides from 388.6 metres; and
-    MFED008 intersected 1.7 metres of massive sulphides followed by 1 metres of disseminated sulphides from 350.5 metres

“These drill holes continue to show the continuity of the nickel sulphide mineralisation at Camelwood, although the thickness of the massive zone is quite variable,” Mulholland said.

“We are finding that the disseminated zone immediately adjacent to the massive sulphide zone is also carrying grades greater than 2% nickel, for example in diamond hole MFED001, so it is not just the massive sulphide thickness that is important.

“We are drilling on quite a wide hole spacing for this type of deposit, and we have now started to close in to a 50m spacing in certain areas. In addition, the situation is complicated by fault off-sets that we are still trying to interpret.”

Survey Results

Results from the ground electromagnetic survey indicates the Camelwood conductor appears to extend to the north at depth.

Drilling will be required to test these conductors.

There is some horizontal and vertical displacement of the EM conductor at the northern end of Camelwood that could correspond with the fault intersected in diamond holes MFED005 and 006. A structure of this orientation is also seen in the magnetics.

Downhole electromagnetic surveys completed in holes MFED001 to 004 have also indicated stronger conductors at depth in three of the holes.

These will be tested with drilling in due course.

Corktree Drilling

Assays from the two reverse circulation holes drilled at Corktree have confirmed the low tenor of nickel visually observed.

The electromagnetic conductor is very strong in this locality and has been modelled down to around 600 metres. It also shows similarities to the conductor at Camelwood.

Further drilling is warranted to test the sediment/ultramafic contact down dip from these relatively shallow drill holes for a position favourable for hosting nickel sulphides.

Future Plans

Rox plans to drill further diamond holes at Camelwood at 50 metre spacing to evaluate the variability in thickness and tenor of mineralisation.

It will also drill holes to test the new conductor north of Camelwood.

Assays from diamond holes MFED002 and 003 are expected in one to two weeks.

Rox has $6.4 million in cash following its recent $4.95 million capital raising.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 13 Mar 2013 03:11:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/45849/rox-resources-extends-camelwood-nickel-sulphide-strike-length-54704.html
<![CDATA[News - Rox Resources retains Speculative Buy rating from Patersons Securities ]]> https://www.proactiveinvestors.co.uk/companies/news/45571/rox-resources-retains-speculative-buy-rating-from-patersons-securities--54378.html Rox Resources’ (ASX: RXL) recent success at the Camelwood prospect, within the Fisher East nickel project in Western Australia, has seen Patersons Securities maintain its Speculative Buy rating on the company.

The company revealed yesterday the first diamond drill hole at Camelwood had intersected 11.4 metres at 2.9% nickel from 282.6 metres, including 2.9 metres at 4.7% nickel.

Diamond drilling is continuing which will provide more results in the near-term.

The following is a copy of the report.


Event

- Assay results from the first diamond hole at Camelwood delivered 11.4m at 2.93% Ni from 282.6m, which included 6.4m at 3.8% Ni including 2.9m at 4.66% Ni.

- The assay results compare favourably to the preliminary indications, which were 3.1m of massive to semi-massive sulphides from 282.8m followed by 2.9m of strongly disseminated sulphides. 

- The next 4 diamond holes have assay results pending. Preliminary indications are promising, although the widths of semi-massive sulphides are relatively thin.

The best indication is in the most recent hole (MFED005) which intersected 1.7m of massive sulphides and 2m of disseminated sulphides from 384.6m. 

- Assay results from RC drilling were also reported with 1m at 2.48% Ni from 126m and 3m at 1.82% Ni from 118m.

- RC drilling has been suspended for a week due to a rig breakdown whilst diamond drilling is ongoing but hampered by not being able to step out to the east because of an ungranted exploration license application, which should be sorted out within the next few weeks. 


Impact

- The assay results from the first diamond hole have exceeded expectations and displayed a nickel grade at the high-end of what we anticipated whilst the width of mineralisation is broader than initially indicated (11.4m versus visual indications of 6m).

- Whilst follow-up diamond drilling has encountered lesser widths of semi-massive to massive sulphides, there is sufficient encouragement to suggest that Camelwood is a significant discovery.

- We believe that the granting of the exploration license application to the east will facilitate the drilling of deeper and more targeted diamond holes. This should also result in an additional diamond drill rig being deployed.

- We retain our speculative buy rating with further assay results due in the next 2-3 weeks
 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 05 Mar 2013 01:26:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/45571/rox-resources-retains-speculative-buy-rating-from-patersons-securities--54378.html
<![CDATA[News - Rox Resources could host "significant nickel sulphide deposit" ]]> https://www.proactiveinvestors.co.uk/companies/news/161953/rox-resources-could-host-significant-nickel-sulphide-deposit-40326.html Rox Resources (ASX: RXL) continues to have exploration success at the Camelwood prospect, which is within the Fisher East nickel project - 450 kilometers north of Kalgoorlie in Western Australia.

The first diamond hole (MFED001) assays have shown that mineralsiation intersected is; 11.4 metres at 2.9% nickel from 282.6 metres, including 2.9 metres at 4.7% nickel. Diamond drilling is continuing which will provide more results in the near-term.

Another plus is that reverse circulation holes also recorded nickel, such as MFEC006 with 1 metre at 2.5% nickel and MFEC007 with 3 metres at 1.8% nickel.

The first diamond drill hole, MFED001, as reported on 15th February 2013, from visual inspection, to have intersected 3.1 metres of massive to semi-massive sulphide mineralisation from 282.8 to 285.9 metres, followed by 2.9 metres of disseminated sulphide mineralisation from 285.9 to 288.8 metres. Today's results are the actual assays.


Mineralisation longer than expected

The positive outcome from the assays are that they confirm the mineralised interval was longer than visually expected, and the high grade tenor of nickel contained in fresh massive to semi-massive sulphides is highly encouraging in terms of further massive sulphide material that might be located at Camelwood.

Ian Mulholland, managing director, commented: “Our initial drilling at Camelwood has been very wide spaced, and has been aimed at first determining the strike extent of mineralisation, which we are still to do despite drilling over 600 metres of strike at this stage.

“As would be expected with this type of deposit we are seeing varying intensities and thicknesses of mineralisation in our drilling.

"It’s still very early days in our understanding of the deposit, but we continue to have a 100% success rate in intersecting nickel sulphides in all holes drilled so far, and the high grades in hole MFED001 are particularly encouraging."

The importance of these results is that they are indicating a large mineralised system which is still open to the north, to the south and at depth.

Mulholland added, "Everything we are seeing is confirming that we have a typical komatiite-hosted type nickel sulphide mineralised system.”


New diamond hole MFEC005

A further diamond drill hole, MFEC005, has been drilled 100 metres north and about 50 metres below the MFED001 intercept, and highlighting the prospectivity of the area a visual inspection shows that this hole has intersected 1.7 metres of massive sulphides and 2 metres of disseminated sulphides, which is then cut off by a fault.

Mulholland said that these assays now clearly demonstrate the potential of this prospect to host a significant nickel sulphide deposit.

Diamond drill holes MFED003 and 004, drilled 200 metres south and 300 metres north respectively from hole MFED001, have intersected 0.1 metres of semi-massive sulphides followed by 12 metres of disseminated sulphides from 178.4 metres, and 0.1 metres of stringer sulphides followed by 6 metres of disseminated sulphides respectively.

While these holes indicate that the system in these locations is still mineralised, the potential for thicker massive sulphide mineralisation is clearly in the vicinity of hole MFED001 based on current knowledge.

Mulholland continued, “The results from holes MFED001 and MFED005 clearly indicate a focus for drilling where we expect to continue to intersect high grade massive sulphide mineralisation.”


Reverse circulation drilling

To date 8 RC holes have defined the strike extent at Camelwood to be at least 600 metres. Assays from holes MFEC006 and 007 have now been received and are as follows (above a 1% Ni cut-off):

- MFEC006: 1 metres at 2.5% nickelt from 125 metres; and
- MFEC007: 3 metres at 1.8% nickelt from 118 metres.


The next step

Geophysical contractors have been mobilised to site to undertake down-hole EM surveys in all diamond holes completed so far.

Rox will also focus further drilling will be in the vicinity of hole MFED001, testing along strike and down dip.


Analysis

Rox may have only just scratched the surface of this deposit with only a very small and shallow portion of the modelled EM conductive plate yet tested.

The first diamond drill hole at the Camelwood prospect at the Fisher East nickel project are impressive.  With a 100% success rate in intersecting nickel sulphides in all holes drilled so far, and the high grades in hole MFED001 are particularly encouraging. Rox looks to be on the verge of defining a significant nickel deposit at the prospect.

The recent capital raising was strongly supported with good reason raising $4.95 million.

If Rox continues to deliver results like today's going forward, then the re-rating of the company will continue.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 04 Mar 2013 10:06:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/161953/rox-resources-could-host-significant-nickel-sulphide-deposit-40326.html
<![CDATA[News - Rox Resources could host "significant nickel deposit" ]]> https://www.proactiveinvestors.co.uk/companies/news/45533/rox-resources-could-host-significant-nickel-deposit-54329.html

Rox Resources (ASX: RXL) continues to have exploration success at the Camelwood prospect, which is within the Fisher East nickel project - 450 kilometers north of Kalgoorlie in Western Australia.

The first diamond hole (MFED001) assays have shown that mineralsiation intersected is; 11.4 metres at 2.9% nickel from 282.6 metres, including 2.9 metres at 4.7% nickel. Diamond drilling is continuing which will provide more results in the near-term.

Another plus is that reverse circulation holes also recorded nickel, such as MFEC006 with 1 metre at 2.5% nickel and MFEC007 with 3 metres at 1.8% nickel.

The first diamond drill hole, MFED001, as reported on 15th February 2013, from visual inspection to have intersected 3.1 metres of massive to semi-massive sulphide mineralisation from 282.8 to 285.9 metres, followed by 2.9 metres of disseminated sulphide mineralisation from 285.9 to 288.8 metres. Today's results are the actual assays.


Mineralisation longer than expected

The positive outcome from the assays are that they confirm the mineralised interval was longer than visually expected, and the high grade tenor of nickel contained in fresh massive to semi-massive sulphides is highly encouraging in terms of further massive sulphide material that might be located at Camelwood.

Ian Mulholland, managing director, commented: “Our initial drilling at Camelwood has been very wide spaced, and has been aimed at first determining the strike extent of mineralisation, which we are still to do despite drilling over 600 metres of strike at this stage.

“As would be expected with this type of deposit we are seeing varying intensities and thicknesses of mineralisation in our drilling.

"It’s still very early days in our understanding of the deposit, but we continue to have a 100% success rate in intersecting nickel sulphides in all holes drilled so far, and the high grades in hole MFED001 are particularly encouraging."

The importance of these results is that they are indicating a large mineralised system which is still open to the north, to the south and at depth.

Mulholland added, "Everything we are seeing is confirming that we have a typical komatiite-hosted type nickel sulphide mineralised system.”


New diamond hole MFEC005

A further diamond drill hole, MFEC005, has been drilled 100 metres north and about 50 metres below the MFED001 intercept, and highlighting the prospectivity of the area a visual inspection shows that this hole has intersected 1.7 metres of massive sulphides and 2 metres of disseminated sulphides, which is then cut off by a fault.

Mulholland said that these assays now clearly demonstrate the potential of this prospect to host a significant nickel sulphide deposit.

“Our initial drilling at Camelwood has been very wide spaced, and has been aimed at first determining the strike extent of mineralisation, which we are still to do despite drilling over 600 metres of strike at this stage.

“As would be expected with this type of deposit we are seeing varying intensities and thicknesses of mineralisation in our drilling.

"It’s still very early days in our understanding of the deposit, but we continue to have a 100% success rate in intersecting nickel sulphides in all holes drilled so far, and the high grades in hole MFED001 are particularly encouraging.

"This is indicating a large mineralised system which is still open to the north, to the south and at depth. Everything we are seeing is confirming that we have a typical komatiite-hosted type nickel sulphide mineralised system.”

Diamond drill holes MFED003 and 004, drilled 200 metres south and 300 metres north respectively from hole MFED001, have intersected 0.1 metres of semi-massive sulphides followed by 12 metres of disseminated sulphides from 178.4 metres, and 0.1 metres of stringer sulphides followed by 6 metres of disseminated sulphides respectively.

While these holes indicate that the system in these locations is still mineralised, the potential for thicker massive sulphide mineralisation is clearly in the vicinity of hole MFED001 based on current knowledge.

Mulholland continued, “The results from holes MFED001 and MFED005 clearly indicate a focus for drilling where we expect to continue to intersect high grade massive sulphide mineralisation.”


Reverse circulation drilling

To date 8 RC holes have defined the strike extent at Camelwood to be at least 600 metres. Assays from holes MFEC006 and 007 have now been received and are as follows (above a 1% Ni cut-off):

- MFEC006: 1 metres at 2.5% nickelt from 125 metres; and
- MFEC007: 3 metres at 1.8% nickelt from 118 metres.


The next step

Geophysical contractors have been mobilised to site to undertake down-hole EM surveys in all diamond holes completed so far.

Rox will also focus further drilling will be in the vicinity of hole MFED001, testing along strike and down dip.


Analysis

Rox may have only just scratched the surface of this deposit with only a very small and shallow portion of the modelled EM conductive plate yet tested.

The first diamond drill hole at the Camelwood prospect at the Fisher East nickel project are impressive.  With a 100% success rate in intersecting nickel sulphides in all holes drilled so far, and the high grades in hole MFED001 are particularly encouraging. Rox looks to be on the verge of defining a significant nickel deposit at the prospect.

The recent capital raising was strongly supported with good reason raising $4.95 million.

If Rox continues to deliver results like today's going forward, then the re-rating of the company will continue.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Sun, 03 Mar 2013 23:23:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/45533/rox-resources-could-host-significant-nickel-deposit-54329.html
<![CDATA[News - Rox Resources continues to be rated Speculative Buy by broker ]]> https://www.proactiveinvestors.co.uk/companies/news/45301/rox-resources-continues-to-be-rated-speculative-buy-by-broker--54042.html Rox Resources’ (ASX: RXL) recent drilling results from its Camelwood Prospect, within the Mt Fisher Project in Western Australia, have prompted Patersons Securities to maintain its Speculative Buy rating.

The Australian broker is looking to additional indicative diamond hole drill results and assays from the first diamond hole, which should be received by no later than mid-March.  

The following is a copy of the report.

Event

- Rox Resources (RXL) reported indicative drilling results from its Camelwood Prospect, part of the Mt Fisher project 450km north of Kalgoorlie, WA.

- The 2nd diamond hole drilled 100m south of the 1st diamond hole (that intersected 3.1m of semi-massive to massive nickel sulphides followed by 2.9m of strongly disseminated sulphides) intersected 0.4m of semi-massive sulphides followed by 5m of strongly disseminated sulphides. 

There was no mention of the downhole depth of the intersection.

- An RC hole drilled 100m north of the previously northern-most RC hole (that intersected 3m of strongly disseminated and semi-massive sulphides from 118m) intersected 3m of semi-massive sulphides followed by 6m of strongly disseminated sulphides from 199m depth.

- RC drilling at the Corktree Prospect (4km south of Camelwood) and the Silverbark Prospect (53km north of Camelwood) did not intersect any nickel sulphides instead hitting pyritic sediments and BIF.

Impact

- Disappointing to not hit massive sulphides in 2nd diamond hole but not surprising:  Whilst the failure of the 2nd diamond hole to hit massive sulphides is disappointing, it is not unexpected. 

Kambalda type massive nickel sulphide deposits regularly have grade variability due to the way these deposits were formed (eg; lava channel flows, variable dropping out of heavy metals).

- The 2nd diamond hole was drilled underneath an RC hole that intersected 20m @ 1.06% Ni from 159m, which suggests that this particular location is just one of these parts of a massive sulphide deposit that has not seen a lot of heavy metal deposition.

- We await the indicative results from the 3rd diamond hole, drilled another 100m south underneath an RC hole intercept of 3m @ 1.72% Ni (including 2m @ 2.22% Ni) from 152m. 

If this hole reports a multi-metre intersection of at least semi-massive sulphides then we would be confident that the deposit is displaying the characteristics of a potentially commercial nickel sulphide deposit.

- The RC drilling results continue to extend the strike length of Camelwood, which is now 600m. In our opinion this strike length is more than ample to host a potentially commercial deposit, if the tenor of grade is at least 3% Ni.

We retain our speculative buy rating and look to additional indicative diamond hole drill results and the assay results from the 1st diamond hole, which should be received by no later than mid March.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 25 Feb 2013 01:03:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/45301/rox-resources-continues-to-be-rated-speculative-buy-by-broker--54042.html
<![CDATA[News - Rox Resources extends nickel sulphide mineralisation at Camelwood ]]> https://www.proactiveinvestors.co.uk/companies/news/45259/rox-resources-extends-nickel-sulphide-mineralisation-at-camelwood-53986.html Rox Resources (ASX:RXL) has extended mineralisation at its Fisher East Nickel Sulphide project in Western Australia with a drill hole intersecting 3 metres of semi massive sulphides.

This semi-massive sulphides are followed by 6 metres of strongly disseminated sulphides from 119 metres depth.

The reverse circulation hole MFEC010 has extended nickel sulphide mineralisation for a further 100 metres north along strike from previous hole MFEC007, now giving a 600 metres strike length which is still open and being further drill tested.

The second diamond drill hole, MFED002 drilled 100 metres south of the first diamond hole interesected 0.4 metres of semi-massive sulphides followed by 5 metres of strongly disseminated sulphides.

Rox's managing director Ian Mulholand said," We continue to be surprised by how laterally extensive the mineralised system is at Camelwood. It’s still very early days in our understanding of the deposit, but we continue to have a 100% success rate in intersecting nickel sulphides in all holes drilled so far.”

Diamond drilling is continuing at Camelwood with a third hole underway a further 100 metres south of the second diamond hole, drilling beneath hole MFEC003.

RC drilling is also progressing at Camelwood with a further two holes planned north of MFEC010.

Rox had earlier delineated massive nickel sulphide deposits following a five hole reverse ciruclation drilling program carreid out last year at Fisher East, where it had been prospecting for gold.

This drill work had returned assays with widths of up to 20 metres and grades up to 3% nickel.

Rox finished last quarter with a cash position of $1.883 million having raised $1.495 million via a placement and share purchase plan and spending $294,000 in exploration and evaluation.

More recently it raised $4.95 million through a placement of 90 million shares at $0.055 a piece with sophisticated investors of Patersons Securities.

The Mt Fisher project is located 450 kilometres north of Kalgoorlie and remains well endowed with gold.

Rox wholly owns 485 square kilometres and holds an option to purchase 100% of a further 170 square kilometres.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 22 Feb 2013 03:44:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/45259/rox-resources-extends-nickel-sulphide-mineralisation-at-camelwood-53986.html
<![CDATA[News - Rox Resources' first diamond hole finds massive sulphides at Camelwood ]]> https://www.proactiveinvestors.co.uk/companies/news/45020/rox-resources-first-diamond-hole-finds-massive-sulphides-at-camelwood-53720.html  

Rox Resources (ASX: RXL) has intersected massive sulphide mineralisation with the first diamond hole at its Fisher East nickel sulphide project in Western Australia.

Importantly, the hole indicates a large body of mineralisation that is still open at depth and along strike.

The diamond hole MFED001 was drilled 50 metres downdip from RC hole MFEC002 and intersected 6 metres of sulphide mineralisation comprising 3.1 metres of massive to semi-massive sulphide mineralisation from a depth of 282.8 metres and 2.9 metres of strongly disseminated sulphide mineralisation from 285.9 metres.

“This is a very positive and significant result. To date we have drilled 7 RC holes and now one diamond hole at Camelwood with all hitting sulphide mineralisation,” managing director Ian Mulholland said.

“It confirms that the Camelwood discovery represents significant nickel-bearing sulphide mineralisation down to at least 300 metres vertical below surface and at least 500 metres along strike.”

Laboratory analyses will be available in about four weeks after core logging and cutting are carried out.

Drilling is continuing at Fisher East with a reverse circulation drilling rig testing strike extensions to Camelwood and other electromagnetic anomalies in the area, and a diamond drilling rig testing the large electromagnetic conductor and depth extensions at Camelwood.

Camelwood

A five hole reverse circulation drilling program carried out late last year had discovered the sulphide mineralisation at the prospect in Fisher East, where Rox had previously focused on gold exploration.

This returned assays with widths of up to 20 metres and grades up to 3% nickel.

Mineralogical work on a single sample from the hole that returned the intercept of 1 metre at 3% nickel indicates relatively coarse-grained supergene (partially oxidised) nickel sulphide mineralisation. 

The mineralisation is comprised of violarite and pyrite as the dominant minerals, and subordinate magnetite and chalcopyrite. 

Violarite is usually the supergene product of pentlandite, which is expected to occur deeper in the system.

Arsenic and antimony, both potential deleterious elements, levels are low, and platinum group elements have yet to be determined.

Drilling was also interpreted to have intersected just the top part of the mineralisation while additional holes have since extended the strike length to 500 metres from 300 metres.

Mulholland had previously noted that more drilling would be needed to fully evaluate the size and grade distribution of the system and other untested conductors.

 Mt Fisher Project is located 450 kilometres north of Kalgoorlie and remains well endowed with gold.

Rox wholly owns 485 square kilometres and holds an option to purchase 100% of a further 170 square kilometres.

Analysis

The confirmation that the massive nickel-bearing sulphide mineralisation extends deeper beyond the original intercepts made, further highlights the potential of the project to be a “game changer” for Rox.

Catalysts include the reverse circulation drilling that is likely to further extend the strike length of Camelwood and potentially discover further nickel sulphides at the other electromagnetic anomalies as well as further evidence of massive sulphide mineralisation at depth from the diamond drilling program.

To top it off, Rox is well funded and supported by the market as demonstrated by the strong support from existing and new shareholders in the recent $4.95 million placement - which builds up the company's cash reserves which were close to $1.9 million at the end of 2012.

While the Rox market valuation has come along way very fast, results from the Fisher East nickel project are such that this is just the start of even bigger things to come as exploration unfolds.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

 

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Fri, 15 Feb 2013 02:09:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/45020/rox-resources-first-diamond-hole-finds-massive-sulphides-at-camelwood-53720.html
<![CDATA[News - Rox Resources to release "material drilling result" ]]> https://www.proactiveinvestors.co.uk/companies/news/44983/rox-resources-to-release-material-drilling-result-53673.html Rox Resources (ASX: RXL) is poised to update the market on a "material drilling result" and has gone into an ASX trading halt.

The company is currently carrying out diamond drilling at its Fisher East nickel prospect in Western Australia.

This is designed to test the area beneath the two reverse circulation holes it has drilled at the Camelwood prospect that intersected sulphide mineralisation.

The first (MFEC006) was drilled 100 metres south of the previous southernmost hole (MFEC003), and intersected 3 metres of strong disseminated sulphide mineralisation from 125 metres downhole.

The second (MFEC007) was drilled 100 metres north of the previous northernmost hole (MFEC005) and intersected 3 metres of strong disseminated (including some semi-massive) sulphide mineralisation from 118 metres downhole, followed by 8 metres of moderate-strong disseminated sulphide mineralisation.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 18th February 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 14 Feb 2013 01:22:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/44983/rox-resources-to-release-material-drilling-result-53673.html
<![CDATA[News - Rox Resources' $4.95m raising exceeds expectations; new nickel sulphides discovered ]]> https://www.proactiveinvestors.co.uk/companies/news/44888/rox-resources-495m-raising-exceeds-expectations-new-nickel-sulphides-discovered-53565.html

Rox Resources (ASX: RXL) recently discovered sulphide mineralisation on the company's Fisher East nickel prospect in Western Australia, and has now received strong support from new and existing shareholders in a $4.95 million capital raising.

Rox also announced today that the first two new reverse circulation holes at the Camelwood prospect intersected sulphide mineralisation.

The new funds are via placement of 90 million shares at $0.055 to professional and sophisticated clients of Patersons Securities Limited, who acted as lead manager.

Ian Mulholland, managing director of Rox, said that the placement exceeded expectations, and that the additional funding provides certainty for the immediate future funding of activities at Fisher East and across the company's portfolio of projects.

“The capital raising has introduced some significant institutional investors to our share register which is a very pleasing outcome.

“These funds will be principally utilised to carry out an aggressive drilling program at Fisher East, which will include follow up drilling at Camelwood, and several other identified nickel sulphide targets along strike from this prospect.”

The Fisher East area is located within Rox’s Mt Fisher Project tenements. Worth noting the project area is 220 kilometres north of Leonora, and has the potential to host a multi-million ounce gold inventory and also nickel sulphide mineralisation.


New sulphide mineralisation discovered at Camelwood

Highlighting the potential of Fisher East, the first two new reverse circulation holes at the Camelwood prospect have intersected sulphide mineralisation.

The importance of the latest discoveries are that the sulphide mineralised system has been extended another 100 metres north and south from previous drilling, which now indicates a strike length of over 500 metres - which remains open.

Mulholland said that the company are encouraged with the results from these first two reverse circulation holes.

Rox said that from visual assessment the company’s geologists believe that the grades will be broadly consistent with previously reported reverse circulation results. Laboratory assays should be available in 3-4 weeks.

Exploration continues at speed with diamond drilling now underway which will test beneath the reverse circulation holes.


Hole breakdown

The first (MFEC006) was drilled 100 metres south of the previous southernmost hole (MFEC003), and intersected 3 metres of strong disseminated sulphide mineralisation from 
125 metres downhole.

The second (MFEC007) was drilled 100 metres north of the previous northernmost hole (MFEC005) and intersected 3 metres of strong disseminated (including some semi-massive) sulphide mineralisation from 118 metres downhole, followed by 8 metres of moderate-strong disseminated sulphide mineralisation.


Analysis

Today's new sulphide discoveries at Fisher East build upon the recent discoveries of semi-massive nickel sulphides and further highlight the potential of the project to be a “game changer” for the company.

Rox is well funded and supported by the market, highlighted by the strong support from existing and new shareholders in today's $4.95 million placement - which builds up the company's cash reserves which were close to $1.9 million at the end of 2012.

The next steps for Rox is diamond drilling with results expected in 3-4 weeks, and if successful, this could add substantial value to the company's Mt Fisher Project. 

The nickel sulphide discoveries are located on tenements that Rox has under an Option to Purchase. The exercise price is $3.5 million, with approximately 18 months of the Option still to run - providing the company with plenty of exploration time on its side.


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Tue, 12 Feb 2013 03:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/44888/rox-resources-495m-raising-exceeds-expectations-new-nickel-sulphides-discovered-53565.html
<![CDATA[News - Rox Resources to provide capital raising details ]]> https://www.proactiveinvestors.co.uk/companies/news/44787/rox-resources-to-provide-capital-raising-details-53440.html  

Rox Resources (ASX: ROX) will soon update the market on a capital raising and has placed its shares into an ASX trading halt.

The company is currently carrying out a ground electromagnetic (EM) survey at the Fisher East Nickel Sulphide Project in Western Australia, which has returned encouraging initial results.

This will be followed by deeper diamond core drilling once ground clearances have been received.

Reverse circulation drilling carried out earlier had produced generally higher grade and thicker nickel intercepts than previously logged, with widths of up to 20 metres and grades up to 3% nickel.

Notable results consist of a thick intersection of 20 metres at 1.1% nickel from 159 metres, including 6 metres at 1.4% nickel and 5 metres at 1.5% nickel; 4 metres at 2% nickel from 212 metres; and 3 metres at 1.7% nickel from 152 metres, including 2 metres at 2.2% nickel.

Fisher East forms part of the Mt Fisher Project, 450 kilometres north of Kalgoorlie, where Rox has previously focused on gold exploration.

The halt will be in place until the earlier of the announcement being made or Tuesday, 12 February 2013.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

 

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Fri, 08 Feb 2013 02:55:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/44787/rox-resources-to-provide-capital-raising-details-53440.html
<![CDATA[News - Rox Resources well advanced on EM survey, to start drilling at Fisher East ]]> https://www.proactiveinvestors.co.uk/companies/news/44703/rox-resources-well-advanced-on-em-survey-to-start-drilling-at-fisher-east-53344.html Rox Resources (ASX: RXL) is well advanced with its ground electromagnetic (EM) survey at the Fisher East Nickel Sulphide Project in Western Australia.

Rox managing director, Ian Mulholland said, "we intend to start drilling this week.”

Five of eight loops have been completed and the remainder of the program expected to be completed within the next fortnight.

Mulholland said, “The initial results from the EM survey loops that have been completed so far are highly encouraging."

"The strong EM conductors at Camelwood, Corktree and Silverbark have all been confirmed. We will know more once the EM survey has been completed and the report finalised.

In December, Rox discovered sulphide mineralisation coincident with electromagnetic conductors through reverse circulation drilling on the Fisher East nickel prospect

In January, drilling results produced generally higher grade and thicker nickel intercepts than previously logged, with widths of up to 20 metres and grades up to 3% nickel.

The prospect forms part of the Mt Fisher Project, 450 kilometres north of Kalgoorlie.

Reverse circulation drilling returned a thick intersection of 20 metres at 1.1% nickel from 159 metres, including 6 metres at 1.4% nickel and 5 metres at 1.5% nickel.

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Wed, 06 Feb 2013 03:57:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/44703/rox-resources-well-advanced-on-em-survey-to-start-drilling-at-fisher-east-53344.html
<![CDATA[News - Rox Resources awarded WA Government exploration grant for Mt Fisher ]]> https://www.proactiveinvestors.co.uk/companies/news/44301/rox-resources-awarded-wa-government-exploration-grant-for-mt-fisher-52852.html Rox Resources (ASX: RXL) has been awarded three grants totalling $100,000 under the WA Government’s Exploration Incentive Scheme to test under explored areas at Mt Fisher gold/nickel project.

The project is located 450km north of Kalgoorlie in Western Australia.

The co-funding will be allocated to under-explored areas within the Mt Fisher project.

This will include the Mt Fisher and Dam gold prospects, and the Fisher East nickel prospects at Camelwood and Corktree.

Rox managing director, Ian Mulholland said, “Given our recent success at Fisher East, this additional funding enables us to increase the pace and scope of our exploration efforts on these highly prospective tenements."

Mulholland said today he anticipated the first stage of co-funded drilling at Fisher East will be completed in the first quarter of 2013.

The remainder will be completed during the course of 2013.

A drilling program at its Fisher East nickel sulphide discovery produced higher grade and thicker nickel intercepts than previously logged, with widths of up to 20 metres and grades up to 3% nickel.

Reverse circulation drilling returned a thick intersection of 20 metres at 1.1% nickel from 159 metres, including 6 metres at 1.4% nickel and 5 metres at 1.5% nickel.

Rox Resources has been a sharemarket star up over 512 per cent at one stage during the past month.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 25 Jan 2013 01:21:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/44301/rox-resources-awarded-wa-government-exploration-grant-for-mt-fisher-52852.html
<![CDATA[News - Rox Resources pursues nickel sulphide discovery at Fisher East ]]> https://www.proactiveinvestors.co.uk/companies/news/44082/rox-resources-pursues-nickel-sulphide-discovery-at-fisher-east--52594.html Rox Resources (ASX: RXL) is following up on its nickel sulphide discovery at Fisher East in Western Australia with the start of a ground electromagnetic survey.

Earlier this week the company revealed it had returned generally higher grade and thicker nickel intercepts than previously logged, with widths of up to 20 metres and grades up to 3% nickel from the Camelwood prospect. 

Reverse circulation drilling in December 2012 intersected semi-massive and disseminated nickel sulphide mineralisation in all five holes drilled at the prospect, covering a strike length of 300 metres and up to 200 metres vertical depth. 

The system remains open in all directions, with only the top part interpreted to have been drilled at this stage.

Assays confirmed the earlier portable XRF analyses and identified Camelwood as a significant new nickel sulphide discovery.

Ian Mulholland, managing director, commented: “We are applying a disciplined and systematic approach to define these nickel sulphide targets and identify new conductors on our tenements. 

“We are highly encouraged by the results from Camelwood, and believe Fisher East has the potential to host a very large mineralised system.”

The new ground electromagnetic survey is using a fixed loop configuration to map out the prospective nickel-sulphide bearing horizon along 8 kilometres of strike, including the Corktree and MFA_01 VTEM anomalies that lie along strike from Camelwood, before further drilling begins in mid-February.


Drilling results

Reverse circulation drilling returned a thick intersection of 20 metres at 1.1% nickel from 159 metres, including 6 metres at 1.4% nickel and 5 metres at 1.5% nickel.

Other noteworthy intersections included 3 metres at 1.3% nickel from 130 metres, including 2 metres at 1.6% nickel; 4 metres at 2% nickel from 212 metres; 3 metres at 1.7% nickel from 152 metres, including 2 metres at 2.2% nickel; and 1 metre at 3% nickel from 147 metres.


Mt Fisher

Fisher East forms part of the Mt Fisher Project, 450 kilometres north of Kalgoorlie, where Rox has previously focused on gold exploration.

Previous drilling results from Rox’s broader Mt Fisher project indicate the Greenstone belt could host over a million ounces of gold. 

The Mt Fisher gold project, which covers 655 square kilometres, is well endowed with gold, as well as showing strong potential for nickel. 

Rox wholly owns 485 square kilometres and holds an option to purchase 100% of a further 170 square kilometres.

The Mt Fisher Mine Area is a large mineralised system with a similar geological sequence to Navigator Resources’ (ASX: NAV) Bronzewing Gold Project.

The Mt Fisher project hosts a JORC Resource of 973,000 tonnes at 2.75g/t for 86,080 gold ounces and is strategically located within 150 kilometres of four treatment plants.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 18 Jan 2013 01:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/44082/rox-resources-pursues-nickel-sulphide-discovery-at-fisher-east--52594.html
<![CDATA[News - Rox Resources firms nickel sulphide discovery at Fisher East ]]> https://www.proactiveinvestors.co.uk/companies/news/43884/rox-resources-firms-nickel-sulphide-discovery-at-fisher-east-52328.html Rox Resources’ (ASX: RXL) drilling program at its Fisher East nickel sulphide discovery has produced generally higher grade and thicker nickel intercepts than previously logged, with widths of up to 20 metres and grades up to 3% nickel. 

The prospect forms part of the Mt Fisher Project, 450 kilometres north of Kalgoorlie, where Rox has previously focused on gold exploration.

Reverse circulation drilling returned a thick intersection of 20 metres at 1.1% nickel from 159 metres, including 6 metres at 1.4% nickel and 5 metres at 1.5% nickel.

Other noteworthy intersections include 3 metres at 1.3% nickel from 130 metres, including 2 metres at 1.6% nickel; 4 metres at 2% nickel from 212 metres; 3 metres at 1.7% nickel from 152 metres, including 2 metres at 2.2% nickel; and 1 metre at 3% nickel from 147 metres.

Ian Mulholland, managing director, commented: “These results confirm a significant new nickel sulphide discovery at Fisher East, which we believe has the potential to be a very large system. 

“We will be following up these results quickly with more drilling and EM surveys to identify new conductors on our tenements.”

Reverse circulation drilling by Rox in December 2012 intersected nickel-bearing semi-massive and strongly disseminated sulphides in all five holes drilled at the Camelwood prospect, covering a strike length of 300 metres and up to 200 metres vertical depth. 

The system is open in all directions, with only the top part interpreted to have been drilled at this stage.

Mineralogical work on a single sample from the hole that returned the intercept of 1 metre at 3% nickel indicates relatively coarse-grained supergene (partially oxidised) nickel sulphide mineralisation. 

The mineralisation is comprised of violarite and pyrite as the dominant minerals, and subordinate magnetite and chalcopyrite. 

Violarite is usually the supergene product of pentlandite, which is expected to occur deeper in the system.

Arsenic and antimony, both potential deleterious elements, levels are low, and platinum group elements have yet to be determined.


Exploration plan 

Rox will now begin the next stage of exploration which will include further ground electro-magnetic surveys and deeper diamond core drilling once ground clearances have been received.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 14 Jan 2013 01:36:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/43884/rox-resources-firms-nickel-sulphide-discovery-at-fisher-east-52328.html
<![CDATA[News - Rox Resources rated a Speculative Buy by Patersons ]]> https://www.proactiveinvestors.co.uk/companies/news/43838/rox-resources-rated-a-speculative-buy-by-patersons-52258.html

Rox Resources (ASX: RXL) has been marked a speculative buy by Patersons Securities, which said there was significant value in the company shares if the early success at the Mt Fisher project were confirmed.

The following is an extract from the report.

Investment highlights

Rox Resources could have hit the jackpot having received encouraging preliminary results from first pass reconnaissance reverse circulation drilling at its Mt Fisher Project targeting nickel sulphide mineralisation.

We expect that laboratory assay results due in mid-late January 2013 will confirm the highly promising preliminary indications.

The RXL share price has increased fourfold since it announced that RC drilling had discovered disseminated and semi-massive nickel sulphide mineralisation at its Mt Fisher project in WA.

Assay results are pending but preliminary scans with a portable XRF analyser indicate approximate nickel grades of 1% to 2% in 4 of the 5 holes drilled, with the other indicating 4% to 5% nickel. 

Intersection widths are between 1 metre and 7 metres and lie between 130 and 213 metres below surface and have occurred over a 300 metre strike length along an identified electro-magnetic (EM) conductor.

Pending confirmation of the preliminary analysis with laboratory assay results, we envisage that the next phase of exploration will be diamond drilling to assist with the understanding of geology, structure and mineralogy as well as to achieve depth penetration and to better handle water flow issues.

To achieve this we would expect RXL to raise additional funds to aggressively yet systematically drill out the initial discovery area known as the Camelwood Prospect, before testing numerous other targets defined by VTEM.

Despite an impressive share price jump since the discovery announcement of 19 December 2012, we see significant value in RXL shares, on the proviso that results are confirmed. 

As an indication of potential value, a direct comparison with Sirius Resources (ASX:SIR) suggests substantial short-term upside with RXL’s current enterprise value (EV) of $32.8 million comparing favourably with Sirius’ fully diluted EV of $127 million, at the time just before its first capital raising after the discovery of its Nova nickel-copper deposit.

Less than 6 months on from the initial Nova discovery announcement, Sirius now has an EV of around $540 million due to continued positive results and its strong balance sheet.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 11 Jan 2013 05:44:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/43838/rox-resources-rated-a-speculative-buy-by-patersons-52258.html
<![CDATA[News - Rox Resources to reveal Mt Fisher drilling results, shares rally prior to halt ]]> https://www.proactiveinvestors.co.uk/companies/news/43832/rox-resources-to-reveal-mt-fisher-drilling-results-shares-rally-prior-to-halt--52252.html Rox Resources (ASX: RXL) will soon release assays from reverse circulation drilling at its Mt Fisher Project in Western Australia and has been granted a trading halt by the ASX today.

Prior to today’s halt Rox shares rocketed 51% since last Friday which earned the company a price query from the ASX. 

Since December shares have gained a massive 519% when they reached a fresh intra-day high of $0.099 yesterday, up from $0.016 in mid-December. 

Just prior to Christmas, Rox revealed it had discovered sulphide mineralisation coincident with electromagnetic conductors through reverse circulation drilling on the Fisher East nickel prospect. 

Mineralisation has been encountered over a 300 metre strike length along a previously identified electromagnetic conductor, and down to a depth of 200 metres, and remains open at depth and along strike in both directions. 

The drilling program consisted of five reverse circulation holes, all of which encountered nickel sulphide mineralisation. 

There has been no prior systematic exploration for nickel in the tenement area, and the system appears to be big.

There are other untested conductors Rox needs to investigate, which will require more detailed drilling to fully evaluate the size and grade distribution of the mineralisation.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Tuesday 15 January.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 10 Jan 2013 23:03:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/43832/rox-resources-to-reveal-mt-fisher-drilling-results-shares-rally-prior-to-halt--52252.html
<![CDATA[News - Rox Resources propelled onto investors’ radars with 519% share price spike ]]> https://www.proactiveinvestors.co.uk/companies/news/43788/rox-resources-propelled-onto-investors-radars-with-519-share-price-spike--52206.html Rox Resources (ASX: RXL) has certainly hit the heights since December, its share price has gained a massive 519%, when shares were trading at $0.016, after hitting an intra-day high of $0.099 today.

The company received a share price query from the ASX after shares rose 51% to an intra-day high of $0.098 today, up from a closing price of $0.065 on Friday 4 January.

Rox said today it is not aware of any material information that has not been disclosed to the market, which may explain the sudden investor interest.

Just prior to Christmas, Rox revealed it had discovered sulphide mineralisation coincident with electromagnetic conductors through reverse circulation drilling on the Fisher East nickel prospect. 

At the time of the announcement, Proactive Investors said: “Although only early days for Rox at Fisher East, these initial discoveries of semi-massive nickel sulphides have the potential to be a “game changer” for the company.”

The prospect forms part of the Mt Fisher Project, 450 kilometres north of Kalgoorlie, where Rox has previously focused on gold exploration. 

Mineralisation has been encountered over a 300 metre strike length along a previously identified electromagnetic conductor, and down to a depth of 200 metres, and remains open at depth and along strike in both directions. 

The drilling program consisted of five reverse circulation holes, all of which encountered nickel sulphide mineralisation. 

There has been no prior systematic exploration for nickel in the tenement area, and the system appears to be big.

There are other untested conductors Rox needs to investigate, which will require more detailed drilling to fully evaluate the size and grade distribution of the mineralisation.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 10 Jan 2013 05:16:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/43788/rox-resources-propelled-onto-investors-radars-with-519-share-price-spike--52206.html
<![CDATA[News - Rox Resources makes nickel sulphide discovery at Fisher East ]]> https://www.proactiveinvestors.co.uk/companies/news/43324/rox-resources-makes-nickel-sulphide-discovery-at-fisher-east-51696.html

Rox Resources (ASX: RXL) has discovered sulphide mineralisation coincident with electromagnetic conductors through reverse circulation drilling on the Fisher East nickel prospect in Western Australia.

The prospect forms part of the Mt Fisher Project, 450 kilometres north of Kalgoorlie, where Rox has previously focused on gold exploration.

The drilling program consisted of five reverse circulation holes, all of which encountered nickel sulphide mineralisation.

Mineralisation has been encountered over a 300 metre strike length along a previously identified electromagnetic conductor, and down to a depth of 200 metres, and remains open at depth and along strike in both directions.

Ian Mulholland, managing director, commented: “This is an exciting discovery for Rox. There has been no prior systematic exploration for nickel in the tenement area, so this is something totally new. 

“We have applied a disciplined and systematic approach to the definition and testing of these nickel sulphide targets, and to get such outstanding success at our first attempt is very gratifying. 

“It looks like it’s a big system and there are other untested conductors we need to look at, so we’ll need a lot more detailed drilling to fully evaluate the size and grade distribution of the mineralisation.”

Preliminary scans with a portable XRF analyser indicate an approximate nickel grade of 1%-2% in all holes except one, where 4%-5% nickel is indicated. Individual RC chips were analysed up to 15% nickel.

Worth noting is that samples from all holes were moist or wet and therefore the portable XRF analyses may not be reliable, and due to the moisture content of the sample could be understated. 

Drilling has only tested the upper, shallowest part of the conductor, with four of the five holes intersecting the mineralisation at about 130 to 140 metres below surface.

The fifth hole intersected the mineralisation at about 200 metres below surface and 70 metres vertically below one of the other holes drilled.

All samples have now been submitted for laboratory analysis with assays expected in late January 2013.

The next steps, once laboratory assays are received, will include mineralogy to determine sulphide species, downhole electromagnetic surveying to determine the location of the best conductive zones, and deeper diamond drilling.

There are also other versatile time domain electromagnetic (VTEM) targets along strike to the north and south that could represent repetitions of the nickel mineralisation. 

Rotary air blast drilling at the Corktree prospect, to the south of the Camelwood prospect, recently defined a nickel geochemical anomaly, while the VTEM target to the north has not been rotary air blast drilled.


Mt Fisher 

Previous drilling results from Rox’s broader Mt Fisher project indicate the Greenstone belt could host over a million ounces of gold. 

The Mt Fisher gold project, which covers 655 square kilometres, is well endowed with gold, as well as showing strong potential for nickel. 

Rox wholly owns 485 square kilometres and holds an option to purchase 100% of a further 170 square kilometres.

The Mt Fisher Mine Area is a large mineralised system with a similar geological sequence to Navigator Resources’ (ASX: NAV) 3.6 million ounce Bronzewing Gold Project.

The Mt Fisher project hosts a JORC Resource of 973,000 tonnes at 2.75g/t for 86,080 gold ounces and is strategically located within 150 kilometres of four treatment plants.


Analysis

Although only early days for Rox at Fisher East, these initial discoveries of semi-massive nickel sulphides have the potential to be a “game changer” for the company.

With no prior systematic exploration previously conducted within the tenement area, there is significant potential for Rox to make a new discovery.

The next steps, once laboratory assays are received, will include mineralogy to determine sulphide species, downhole electromagnetic surveying to determine the location of the best conductive zones, and deeper diamond drilling.

If these next steps are successful, Rox could add substantial value to its Mt Fisher Project. 

Another plus for Rox is that the company has exploration time on its side, as it has an Option to Purchase. The exercise price is $3.5 million, with about 18 months of the Option still to run.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 19 Dec 2012 05:36:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/43324/rox-resources-makes-nickel-sulphide-discovery-at-fisher-east-51696.html
<![CDATA[News - Rox Resources to unveil exploration results ]]> https://www.proactiveinvestors.co.uk/companies/news/43277/rox-resources-to-unveil-exploration-results-51637.html

Rox Resources (ASX: RXL) has been granted a trading halt this morning and placed in pre-open by the ASX, pending the release of exploration results.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 20th December 2012.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 18 Dec 2012 03:01:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/43277/rox-resources-to-unveil-exploration-results-51637.html
<![CDATA[News - Rox Resources finds up to 32.9% copper in rock chip sampling at Bonya ]]> https://www.proactiveinvestors.co.uk/companies/news/43066/rox-resources-finds-up-to-329-copper-in-rock-chip-sampling-at-bonya--51397.html

Rox Resources’ (ASX: RXL) recent rock chip exploration at the Bonya copper project in the Northern Territory is unveiling the extensive, high grade nature of the deposit with copper grades of up to 32.9% and new and existing prospects located over 20 kilometres of strike. 

This is testament to managing director Ian Mulholland’s decision to farm into the copper prospective project that is already drawing comparisons to Kentor Gold’s (ASX: KGL) 13.5 million tonne at 1.3% copper Jervois Project located adjacent to Bonya.

Samples of outcropping oxide (malachite, azurite) and sulphide (chalcocite) copper mineralisation have been collected from numerous old workings within the western tenement area, with rock chip assays of up to 32.9% copper, 54.8 grams per tonne (g/t) silver and 0.64g/t gold.

Ian Mulholland, managing director, commented: “We are excited by these new finds of outcropping oxide copper mineralisation because they demonstrate the outstanding prospectivity of the tenements over an extensive area. 

“To have so many copper occurrences augers well for our success in locating further significant copper deposits here.”

Mulholland told Proactive Investors today: “The nearby Jervois deposits are being developed by Kentor Gold and they have a significant mineral resource.

“There is no reason, given exploration success, that we couldn’t develop similar resources on the Bonya tenement in due course.”

Regionally, the copper mineralisation occurs within the Bonya Schist which also hosts the Jervois copper deposits some 20 kilometres to the east.

At Bonya and several other prospects there are old workings with small stockpiles of copper oxide ore. 

These stockpiles were generated in the 1950s and 1960s when the copper oxide ore was being collected for use as flux in the Mount Isa copper smelter. 

Transport of this material stopped abruptly when the copper price fell and the ore stockpiles were abandoned. It appears that there has been no drilling at or below any of these old workings.


Promising prospects

The most significant prospects identified to date include:

- Green Hoard, where a large historic trench 80 metres long, 4 metres wide and 2 metres deep, and several stockpiles of copper oxide and sulphide ore were found;
- Ashmara, where old diggings were found;
- Kings Legend, where a trench and shaft are present;
- Green Goanna, where an old shaft was found;
- White Violet, where several large trenches and extensive oxide copper mineralisation over a 200 metre strike length was found;
- Fat Cow, where stockpiled (drummed) oxide ore was found; and
- Goat, where outcrop of copper oxide was observed.

These are in addition to the old workings at Bonya that have previously been reported.


Farm-in

Rox is earning up to a 70% interest in the Bonya Project through a farm-in agreement with Arafura Resources(ASX: ARU).

The company is required to spend $500,000 within the first two years to earn an initial 51% interest in the copper, lead, zinc, silver, gold, bismuth and platinum group elements mineral rights. 


Exploration plan

Rox recently raised A$1.4 million in a share purchase plan, with the funds to be partly directed to exploration at Bonya. 

The next stage of exploration at the project will involve geochemical and geophysical surveys over areas of demonstrated copper outcrop or anomalism. 

Drilling of the targets generated is slated to take place in the first half of 2013.


Analysis

While early days at the Bonya Copper Project, the presence of so many copper occurrences bodes well for success in locating further significant copper deposits.

This is testament to managing director Ian Mulholland’s decision to farm into the copper prospective project.
 
The project’s location adjacent to Kentor Gold’s 13.5 million tonne at 1.3% copper Jervois deposit is significant, with mineralisation at Bonya already showing similarities to Jervois and an indicator to potential future success. 
 
Another major advantage is that the geological setting is similar to other areas such as Mount Hardy in the Northern Territory, and of a similar deposit type to those found in the Doolgunna district which hosts the DeGrussa deposit.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 11 Dec 2012 02:33:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/43066/rox-resources-finds-up-to-329-copper-in-rock-chip-sampling-at-bonya--51397.html
<![CDATA[News - Rox Resources raises A$1.4M on strong investor support ]]> https://www.proactiveinvestors.co.uk/companies/news/42718/rox-resources-raises-a14m-on-strong-investor-support-50994.html Rox Resources (ASX: RXL) has raised A$1.4 million in its recent share purchase plan, exceeding the company’s expectations and indicating strong investor support.

The company offered up to 119.5 million shares at $0.015 each to eligible shareholders, who could subscribe for up to $15,000 worth of shares, to raise a total of $1.8 million.

Ian Mulholland, managing director, commented: “It is a very pleasing result to receive such strong support from our shareholders in this difficult market.

“We look forward to rewarding their support by continuing active exploration on our high quality projects.”

The funds raised will be used to progress Rox’s exploration programs in Western Australia and the Northern Territory.


Mt Fisher

In Western Australia, Rox has developed a nickel sulphide drill target at the Fisher East prospect which forms part of the Mt Fisher project.

A strong electromagnetic anomaly at the project is shown to be coincident with a nickel geochemical anomaly defined in rotary air blast drilling.

The initial geochemical anomaly of 12 metres at 0.12% nickel lies over the strong VTEM anomaly at Fisher East. Rox now intends to drill test the anomaly as soon as possible.

The Mt Fisher project hosts a JORC resource of 973,000 tonnes at 2.75g/t for 86,080 gold ounces and is strategically located within 150 kilometres of four treatment plants.

Rox recently delivered drilling results that indicate the Greenstone belt could host over a million ounces of gold.

The Mt Fisher Mine Area is a large mineralised system with a similar geological sequence to Navigator Resources’ (ASX: NAV) 3.6 million ounce Bronzewing Gold Project.


Bonya

In the Northern Territory, Rox recently farmed-in to the Bonya Copper Project 350 kilometres east of Alice Springs.

The 279 square kilometre project is located adjacent to Kentor Gold’s (ASX: KGL) 11.9 million tonne at 1.3% copper Jervois deposit, with mineralisation at Bonya shown to be similar to Jervois.

Rox recently received laboratory assays from the Bonya Project confirming high grade rock chip mineralisation of up to 30.7% copper, 34.1 grams per tonne (g/t) silver and 0.52g/t gold.

The geological setting is similar to other areas such as Mount Hardy in the Northern Territory, and of a similar deposit type to those found in the Doolgunna district in Western Australia, which hosts Sandfire Resources' (ASX: SFR) DeGrussa deposit.

Importantly, there are walk up drill targets at the old Bonya Mine prospect, with Rox planning to progress the project with geochemical and geophysical programs prior to drilling in the first half of 2013.

Rox can earn a 51% interest in the copper, lead, zinc, silver, gold, bismuth and platinum group elements mineral rights by spending $500,000 at Bonya within the first two years.

The company can then 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 Resources (ASX: ARU) to further explore and develop the area.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 30 Nov 2012 04:29:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/42718/rox-resources-raises-a14m-on-strong-investor-support-50994.html
<![CDATA[News - Rox Resources begins surveying at Fisher East ]]> https://www.proactiveinvestors.co.uk/companies/news/42298/rox-resources-begins-surveying-at-fisher-east-50479.html Rox Resources (ASX: RXL) has begun ground electromagnetic surveys at its Fisher East prospect, which forms part of the Mt Fisher project in the North Eastern Goldfields region of Western Australia, where several anomalies have been identified.

The ground electromagnetic survey is using fixed and moving loops to better define the targets at Fisher East before drilling.

A versatile time electromagnetic (VTEM) survey commissioned by Rox in 2011 identified several anomalies along the Fisher East ultramafic belt.

Initial rotary air blast drilling over one anomaly intersected anomalous nickel geochemistry, returning 12 metres at 0.12% nickel from 32 metres. 

Subsequent rotary air blast drilling over another anomaly defined a significant nickel geochemical anomaly over a 200 metre strike, with peak values of 0.5% nickel, 500 parts per million copper and elevated platinum group elements – gold + platinum + palladium – values, up to 100 parts per billion.

The coincident VTEM and geochemical anomalies suggest a probable sulphide origin for the anomalies.

Examination of the geology intersected in rotary air blast drilling suggests 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.


Mt Fisher potential 

Highlighting the potential of Rox’s Mt Fisher project, previous drilling results indicate the Greenstone belt could host over a million ounces of gold. 

The Mt Fisher gold project, which covers 655 square kilometres, is well endowed with gold, as well as showing strong potential for nickel. 

Rox wholly owns 485 square kilometres and holds an option to purchase 100% of a further 170 square kilometres.

The Mt Fisher Mine Area is a large mineralised system with a similar geological sequence to Navigator Resources’ (ASX: NAV) 3.6 million ounce Bronzewing Gold Project.

The Mt Fisher project hosts a JORC Resource of 973,000 tonnes at 2.75g/t for 86,080 gold ounces and is strategically located within 150 kilometres of four treatment plants.


Capital raising

Earlier this month Rox launched a share purchase plan to raise around A$1.8 million to advance the Mt Fisher gold and nickel project and the newly acquired Bonya copper project, where high grade rock chips of up to 30.7% copper have been confirmed.

The company is offering up to 119.5 million shares at $0.015 each to eligible shareholders, who can subscribe for up to $15,000 worth of shares.


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Mon, 19 Nov 2012 01:29:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/42298/rox-resources-begins-surveying-at-fisher-east-50479.html
<![CDATA[News - Rox Resources’s drilling firms up Fisher East nickel target ]]> https://www.proactiveinvestors.co.uk/companies/news/41941/rox-resourcess-drilling-firms-up-fisher-east-nickel-target-50022.html

Rox Resources’ (ASX: RXL) recent drilling has confirmed a significant nickel geochemical anomaly at its Fisher East prospect in Western Australia.

Results received from the rotary air blast drilling over the VTEM Anomaly MFA_04, where weathered sulphide material was intersected in a number of holes include:

-    28 metres at 0.28% nickel and 66ppm copper;
-    13 metres at 0.26% nickel and 68ppm copper;
-    8 metres at 0.40% nickel and 324ppm copper; and
-    8 metres at 0.35% nickel and 321ppm copper.

Examination of the geology intersected 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.

“It is very exciting to discover such strong indicators of nickel sulphide mineralisation at Fisher East. We always thought the area had this potential and the results are now starting to support that belief,” managing director Ian Mulholland said.

“The geochemical anomaly is of the same order of magnitude as that seen at other recent nickel sulphide discoveries such as Cosmos and Nova. Both of these prospects also had strong EM anomalies similar to Fisher East.”

The remainder of the samples, including those from VTEM Anomaly MFA_05 about 5 kilometres to the south are still to be assayed.

Initial rotary air blast drilling at VTEM Anomaly MFA_05 had intersected anomalous nickel geochemistry of 12 metres at 0.12% nickel.

These anomalies were identified in a survey commissioned by Rox in 2011.

The next steps will be a fixed loop EM survey to better define the EM conductive zone, followed by deeper reverse circulation and/or diamond drilling.

Mt Fisher

The Mt Fisher project covers 485 square kilometres and is well endowed with gold along with strong potential for nickel.

It is located just 40 kilometres east of the prolific Yandal greenstone belt and 100 kilometres east of the main Wiluna greenstone belt.

Besides the nickel sulphide target that Mulholland described as being intriguing, Rox also has a number of strong gold targets to follow up at Mt Fisher.

Mt Fisher project hosts a JORC Resource of 973,000 tonnes at 2.75g/t for 86,080 gold ounces and is strategically located within 150 kilometres of four treatment plants.

Previous mining from underground and open cut was 27,000 ounces, with the mine currently hosting a remaining 25,000 ounce Resource.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 07 Nov 2012 03:18:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/41941/rox-resourcess-drilling-firms-up-fisher-east-nickel-target-50022.html
<![CDATA[News - Rox Resources embarks on A$1.8M capital raising ]]> https://www.proactiveinvestors.co.uk/companies/news/41747/rox-resources-embarks-on-a18m-capital-raising--49783.html Rox Resources (ASX: RXL) has launched a share purchase plan to raise around A$1.8 million to advance the Mt Fisher gold and nickel project and the newly acquired Bonya copper project, where high grade rock chips of up to 30.7% copper have been confirmed.

The company is offering up to 119.5 million shares at $0.015 each to eligible shareholders, who can subscribe for up to $15,000 worth of shares.

The issue price represents a 17% discount to the volume weighted average price of Rox shares traded on the ASX during the five days immediately prior to the announcement.


Bonya

Rox recently received laboratory assays from the newly acquired Bonya Copper Project confirming high grade rock chip mineralisation of up to 30.7% copper, 34.1 grams per tonne (g/t) silver and 0.52g/t gold.

The project is located 350 kilometres east of Alice Springs in the Northern Territory, with Rox signing a farm-in agreement with Arafura Resources (ASX: ARU) last month. 

What is so important for Rox at Bonya is that there are walk up drill targets at the old Bonya Mine prospect, with the company looking to further evaluate these with detailed mapping, rock and soil sampling prior to drilling.

The 279 square kilometre project is located adjacent to Kentor Gold’s (ASX: KGL) 11.9 million tonne at 1.3% copper Jervois deposit, with mineralisation at Bonya shown to be similar to Jervois.

The geological setting is similar to other areas such as Mount Hardy in the Northern Territory, and of a similar deposit type to those found in the Doolgunna district in Western Australia, which hosts Sandfire Resources' (ASX: SFR) DeGrussa deposit. 

Importantly, walk up drill targets have already been identified at the old Bonya Mine prospect, with Rox looking to further evaluate these with detailed mapping, rock and soil sampling prior to drilling. 

Assessment of historic mining activities at the old Bonya copper mine indicates the potential for depth extensions to the outcropping mineralisation, which has never been previously drill tested. 

Rox is earning up to a 70% interest in the project via staged exploration expenditure. 


Mt Fisher

Highlighting the potential of Rox’s Mt Fisher project, the company recently delivered drilling results that indicate the Greenstone belt could host over a million ounces of gold. 

Drilling also located several nickel-copper geochemical anomalies which would provide significant encouragement to Rox's Ian Mullholland. 

The work further extended the strong geochemical gold anomalies at the Dam and Dirks prospects within the Mt Fisher gold-nickel project in recent rotary air blast and aircore drilling. 

The Mt Fisher project hosts a JORC Resource of 973,000 tonnes at 2.75g/t for 86,080 gold ounces and is strategically located within 150 kilometres of four treatment plants.

A gold-in-regolith anomaly of 7 kilometres in length exists at the Dam, Damsel and Dirks prospects.

The Mt Fisher Mine Area is a large mineralised system with a similar geological sequence to Navigator Resources’ (ASX: NAV) 3.6 million ounce Bronzewing Gold Project.

Previous mining from underground and open cut was 27,000 ounces, with the mine currently hosting a remaining 25,000 ounce Resource. 

This is likely to increase with drilling indicating extensions for at least 200 metres, with the mineralisation open at depth. 


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 31 Oct 2012 23:18:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/41747/rox-resources-embarks-on-a18m-capital-raising--49783.html
<![CDATA[News - Rox Resources' lab assays deliver 30.7% copper at Bonya ]]> https://www.proactiveinvestors.co.uk/companies/news/41594/rox-resources-lab-assays-deliver-307-copper-at-bonya-49596.html

Rox Resources' (ASX: RXL) laboratory assays from the Bonya Copper Project have confirmed high grade rock chip mineralisation of up to 30.7% copper, 34.1 g/t silver and 0.52 g/t.

In total five samples were sent to the assay laboratory and have returned highly encouraging results including significant levels of lead (2.27%).

The project is located in the 350 kilometres east of Alice Springs in the Northern Territory, with Rox signing a farm-in agreement with Arafura Resources (ASX: ARU) earlier in the month. Satisfactory due diligence has been completed.

What is so important for Rox at Bonya is that there are walk up drill targets at the old Bonya Mine prospect, with the company looking to further evaluate these with detailed mapping, rock and soil sampling prior to drilling.

Another plus is assessment of historic mining activities at the old Bonya copper mine indicates the potential for depth extensions to the outcropping mineralisation, which has never been previously drill tested. 

Highlighting the prospectivity of the area, the 279 square kilometre project is located adjacent to Kentor Gold’s (ASX: KGL) 11.9 million tonne at 1.3% copper Jervois deposit, with mineralisation at Bonya shown to be similar to Jervois. 

The geological setting is similar to other areas such as Mount Hardy in the Northern Territory, and of a similar deposit type to those found in the Doolgunna district in Western Australia, which hosts Sandfire Resources' (ASX: SFR) DeGrussa deposit.


Terms of the agreement

Rox is required to spend $500,000 within the first two years to earn a 51% interest in the copper, lead, zinc, silver, gold, bismuth and platinum group elements mineral rights. 

This includes a minimum of $150,000 in the first year before Rox can withdraw. Arafura retains all other mineral rights over the tenements comprising EL10215 and EL26812.

Rox can elect to earn a further 19% (for 70% in total) by spending an extra $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.


Analysis

The similarities between the Bonya and Jervois copper projects highlights the opportunity Rox has dealt itself into following the farm-in with Arafura.

Another major advantage is that the geological setting is similar to other areas such as Mount Hardy in the Northern Territory, and of a similar deposit type to those found in the Doolgunna district which hosts the DeGrussa deposit.

Although still early days for Rox - the company is certainly off to a flying start at Bonya with the visible copper mineralisation at surface.

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Fri, 26 Oct 2012 06:44:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/41594/rox-resources-lab-assays-deliver-307-copper-at-bonya-49596.html
<![CDATA[News - Rox Resources assays from Teena support significant zinc mineralised zone ]]> https://www.proactiveinvestors.co.uk/companies/news/41240/rox-resources-assays-from-teena-support-significant-zinc-mineralised-zone-49184.html

Rox Resources (ASX: RXL) has confirmed the Teena zinc prospect as having a medium to high grade zone of mineralisation after re-sampling two historic drill holes.

The re-sampling results, from holes Teena 4 and 6, confirm a close comparison between the historic drill core assays and the samples re-assayed by earn-in partner Teck Australia.

While complete re-sampling on a metre by metre basis was impossible due to the heavily degraded nature of the drill core, samples were taken randomly from one hole and at regular intervals from the other.

These showed no material differences beyond a slightly higher anomalous grade in the zinc while lead has a slightly higher anomalous grade in the historic assays, particularly at lower levels.

Further exploration at Teena is planned for the December quarter including surface geochemical sampling.

Drilling to confirm the impressive grades and thicknesses is expected to occur early in the 2013 field season and is anticipated to establish Teena as a significant zinc-lead prospect within the Myrtle/Reward Project.

Teena

Historical drilling results obtained by Teck had indicated that Teena could be at least as large as the Myrtle/Reward project about 15 kilometres to the south.

This included results such as 11.3 metres at 10.9% zinc plus lead and 8.6 metres at 9.84% zinc plus lead.

Teena is also strategically located 10 kilometres west of Xstrata’s (LON: XTA) McArthur River Zinc Mine.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Tue, 16 Oct 2012 05:48:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/41240/rox-resources-assays-from-teena-support-significant-zinc-mineralised-zone-49184.html
<![CDATA[News - Rox Resources farms into copper prospective Bonya Project ]]> https://www.proactiveinvestors.co.uk/companies/news/41143/rox-resources-farms-into-copper-prospective-bonya-project--49068.html

Rox Resources (ASX: ROX) plans to acquire up to a 70% interest in the highly prospective Bonya Copper Project in the Northern Territory after entering into a farm-in agreement with Arafura Resources (ASX: ARU).

The 279 square kilometre project is located adjacent to Kentor Gold’s (ASX: KGL) 11.9 million tonne at 1.3% copper Jervois deposit, with mineralisation at Bonya shown to be similar to Jervois. 

Portable XRF analyses has uncovered visible outcropping copper mineralisation with values of up to 34.6% copper and 27 grams per tonne (g/t) silver. 

Importantly, walk up drill targets have already been identified at the old Bonya Mine prospect.

Assessment of historic mining activities at the old Bonya copper mine indicates the potential for depth extensions to the outcropping mineralisation, which has never been previously drill tested. 

Both the Bonya and Jervois copper projects are in an interpreted high metamorphic grade volcanogenic massive sulphide geological setting.

The geological setting is similar to other areas such as Mount Hardy in the Northern Territory, and of a similar deposit type to those found in the Doolgunna district in Western Australia, which hosts Sandfire Resources' (ASX: SFR) DeGrussa deposit.

Ian Mulholland, managing director of Rox Resources, commented: “This is a great exploration opportunity for us. The style of mineralisation is similar to the nearby Jervois deposits. 

“The surface expressions suggest the potential for sulphide mineralisation below the old workings which is anticipated to also contain significant gold and silver.

 “Our data compilation work shows that the tenements are under explored, with most of the work previously focussed on the adjacent Jervois copper deposits. 

“We have a walk up drill target at Bonya, and on top of that there is a large 279 square kilometre tenement holding to explore with similar rocks to those at Jervois. 

“Several other copper prospects have been identified from our research, so we see the whole area as highly prospective.”

Mulholland told Proactive Investors today Rox recognised the potential of the area when assessing copper opportunities in the Northern Territory.

“Initially we were attracted by the potential of the Jervois copper project, and when we couldn’t get involved in that we looked for other opportunities.” 

Rox plans to begin exploration with a rock chipping and soil sampling program followed by geophysics and drilling.

Mulholland said Rox will undertake its first field trip next month with a rock chipping and soil sampling program, and will follow that up with some geophysics and drilling early next year.

“We should have the results out before the end of the year. That should give us more information upon which to base our planning for geophysics and drilling.”


Terms of deal

Rox is required to spend $500,000 within the first two years to earn a 51% interest in the copper, lead, zinc, silver, gold, bismuth and platinum group elements mineral rights. 

This includes a minimum of $150,000 in the first year before Rox can withdraw. Arafura retains all other mineral rights over the tenements comprising EL10215 and EL26812.

Rox can elect to earn a further 19% (for 70% in total) by spending an extra $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.


Analysis

The acquisition of a 70% interest in the Bonya Copper Project provides a significant filip to Rox's exploration portfolio in a very prospective copper province.

The project’s location adjacent to Kentor Gold’s 11.9 million tonne at 1.3% copper Jervois deposit is significant, with mineralisation at Bonya already showing similarities to Jervois and an indicator to potential future success.

 

Both the Bonya and Jervois copper projects are in an interpreted high metamorphic grade VMS geological setting, similar to other areas such as Mount Hardy in the Northern Territory, and of a similar deposit type to those found in the  Doolgunna  district  in Western Australia, which hosts Sandfire’s DeGrussa deposit.

Rox is likely to pick up new fans with the addition of a highly prospective copper project to its portfolio. Although early days, with visible copper mineralisation at surface and portable XRF analyses of grades up to 34% copper and 27g/t silver there is a sense of expectation.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.


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Fri, 12 Oct 2012 05:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/41143/rox-resources-farms-into-copper-prospective-bonya-project--49068.html
<![CDATA[News - Rox Resources’ drilling to follow up on Fisher East nickel targets ]]> https://www.proactiveinvestors.co.uk/companies/news/40919/rox-resources-drilling-to-follow-up-on-fisher-east-nickel-targets-48794.html Rox Resources (ASX: RXL) will soon start further rotary air blast (RAB) drilling at its Fisher East nickel prospect in Western Australia to follow up and define targets from recent drilling.

The recent RAB and air core drilling had intersected anomalous nickel geochemistry in an ultramafic unit with one hole intersecting 12 metres at 0.12% nickel from 32 metres downhole.

Importantly, the nickel geochemistry lies directly over a strong VTEM anomaly Rox identified in 2011.

“Nickel sulphide mineralisation is known 25 kilometres further to the north where WMC drilled massive magmatic nickel sulphide (0.2 metres at 1.93% nickel, 0.42% copper) in 2003,” managing director Ian Mulholland said.

“That intersection also contained platinum and palladium up to 0.7 grams per tonne. At Fisher East, Southern Geoscience have modelled two strongly conductive bodies each up to 500 metres long and extending at least 500 metres deep.

“We only ran one line of RAB drilling over the original VTEM anomaly to see if we got any anomalous nickel. We have now got two very good nickel sulphide targets to chase.”

Mt Fisher

The Mt Fisher project covers 485 square kilometres and is well endowed with gold along with strong potential for nickel.

It is located just 40 kilometres east of the prolific Yandal greenstone belt and 100 kilometres east of the main Wiluna greenstone belt.

Besides the nickel sulphide target that Mulholland described as being intriguing, Rox also has a number of strong gold targets to follow up at Mt Fisher.

Mt Fisher project hosts a JORC Resource of 973,000 tonnes at 2.75g/t for 86,080 gold ounces and is strategically located within 150 kilometres of four treatment plants.

Previous mining from underground and open cut was 27,000 ounces, with the mine currently hosting a remaining 25,000 ounce Resource.

This is likely to increase with drilling indicating extensions for at least 200 metres, with the mineralisation open at depth.

Rox has also extended an option over the Mt Fisher mine and associated tenements to 30 June 2013.

The Option tenements cover an area of 170 square kilometres and are adjacent to the company’s 485 square kilometre wholly owned tenements.

A JORC Resource of 215,200 tonnes at 3.57g/t gold, of which 176,300 tonnes of that is in the higher confidence Measured and Indicated categories, has been defined underneath the old Mt Fisher open pit. This is open down plunge and down dip beneath the open pit, and is just part of the overall 86,000 ounce Resource defined on the project.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Fri, 05 Oct 2012 05:21:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/40919/rox-resources-drilling-to-follow-up-on-fisher-east-nickel-targets-48794.html