Rox increases Teena strike length

THE DRILL SERGEANT: Rox Resources (ASX: RXL) has received assay results from an ongoing core drilling program being undertaken at the Teena zinc prospect.

The Teena prospect is part of the company’s Reward project, located in the Northern Territory.

 

Reward project tenement plan showing prospect locations. Source: Company announcement

 

Rox claimed assay results from the first hole of the 4,000 metre drilling program have confirmed visual results it announced in September 2014.

According to the company diamond drill hole TNDD013 has extended the drilled strike length of known mineralisation at Teena to over 1.5 kilometres.

Results include:
3 metres at 10.1 per cent zinc and lead from 670 to 673m, and 7.7m at 9.9 per cent zinc and lead from 678 to 685.7m.

These intercepts were recorded within a wider intersection of 35m at 6.1 per cent zinc and lead from 665 to 700m.

Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“We are delighted that the first hole of the 4,000 metre drilling program has extended the strike length of mineralisation at Teena, which further strengthens our belief that we are dealing with a very large deposit,”

“We look forward to further results from the drilling program over the next two to three months.”

The Reward project is subject to an option/joint venture agreement between Rox (49 per cent) and Teck Australia (51 per cent), a subsidiary of Canada’s largest diversified resource company Teck Resources Limited.

Teck has elected to exercise the option to increase their JV interest to 70 per cent by expending up to $15 million in total by 31 August 2018.

Email: admin@roxresources.com.au

Website: www.roxresources.com.au