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Rox to grow gold, nickel resources at Mt Fisher, Mt Eureka projects
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Special Report: Rox is waiting on further results from its Youanmi gold project and has started field work targeting gold and nickel at the Mt Fisher and Mt Eureka joint venture projects.
The company is also awaiting further assays from the shallow, super high-grade Grace prospect within the Youanmi JV.
Rox Resources (ASX:RXL) noted that the laboratory it uses for assaying samples has reported a significant increase in work load with results taking up to five weeks to be received.
No assays have been received since results were received for the first hole, which confirmed the up-dip presence of a central gold-bearing lode at Grace after drilling intersected 4m at 69.5 grams per tonne (g/t) gold from just 28m.
The result indicates that the prospect represents a new style of mineralisation within the Youanmi JV with Venus Metals (ASX:VMC) and provides further insight into the regional prospectivity beyond the existing resource base.
Rox plans to start resource estimation work for Grace this month when sufficient results have been received.
The Younami gold project currently has a global resource of 12.4 million tonnes at 2.97g/t gold, or just under 1.2 million ounces of contained gold.
Meanwhile, initial work at Mt Fisher and Mt Eureka comprises electromagnetic surveying in the northern and southern most parts of the tenement package, aircore drilling of previously identified electromagnetic anomalies and reverse circulation drilling of new targets.
These activities are expected to continue until July.
The Mt Fisher and Mt Eureka work program is aimed at growing the existing resources of 78,000 tonnes of contained nickel and identify new areas of mineralisation regionally.
The company can earn up to a 75 per cent interest in the 290sqkm Mt Eureka project from Cullen Exploration.
