Rox hits highest grade nickel yet at Musket

THE DRILL SERGEANT: Rox Resources (ASX: RXL) has reported the first assay results it has received from diamond drilling being carried out at the Musket prospect.

The Musket prospect is part of the company’s Fisher East nickel sulphide project, located north of Kalgoorlie in Western Australia.

The intended target of the first diamond drill hole, MFED042, was 35 metres down dip from previous RC hole MFEC065 (17m at 2.2 per cent nickel, including 2m at 8.1 per cent nickel).

 

Musket drill plan. Source: Company announcement

 

The latest drilling intersected a thick zone of nickel sulphide mineralisation grading 15m at 2.7 per cent nickel, including 0.9m at 19.5 per cent nickel of massive sulphide from 264.7m downhole with an estimated true width of approximately 10m.

Rox said the he second diamond drill hole in the program, FED043, also intersected similar mineralisation style and thickness, 85m down dip from RC hole MFEC065 and 50m down dip from diamond drill hole MFEC042, with assays pending.

Two further diamond holes both intersected 10m to 15m zones of nickel sulphide mineralisation. Assays for these two holes are also pending.

“This first result, our highest grade yet, of 19.5 per cent nickel for the massive sulphide zone in hole MFED042, confirms the high tenor of the nickel sulphide mineralisation at Musket,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“We are continuing drilling further along strike and down dip, and it won’t be long before we get a good picture of this new thick zone of high-grade nickel sulphide mineralisation at Musket which is looking like a very significant new discovery for the company.”

A recent fully subscribed capital raising has Rox in fine financial fettle with approximately $4.5 million in the bank for drilling at the Musket and Cannonball nickel sulphide targets.

Rox is undertaking an initial nine hole program of diamond drilling to test the high-grade nickel sulphide mineralisation at Musket and also along strike at the Cannonball prospect.

The targets are only one kilometre south along strike from the company’s Camelwood nickel sulphide deposit (1.6 million tonnes at 2.2 per cent nickel, including 0.5 million tonnes at 3.1 per cent nickel.

Email: admin@roxresources.com.au

Website: www.roxresources.com.au