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Rox Resources granted trading halt to raise capital

Last updated: 07:00 13 Mar 2014 GMT, First published: 06:00 13 Mar 2014 GMT

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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.

 

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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