THE BOURSE WHISPERER: Rox Resources (ASX: RXL) has entered into an Option Agreement to acquire 100 per cent of two additional granted mineral tenements at the company’s Mt Fisher gold-nickel project, north of Kalgoorlie in Western Australia.
The new tenements are situated along strike to the south of known nickel and gold mineralised zones on Rox’s tenements.
The first tenement, E53/1802, is located along strike to the south of Rox’s recent nickel sulphide discoveries at Camelwood and Musket.
The tenement covers a further 10 kilometres of the prospective ultramafic horizon, now providing Rox with a total 25km strike length.
E53/1802 (yellow outline) showing magnetics. Rox current tenure shown
with red or blue outline, and nickel sulphide prospects and VTEM
anomalies shown. Source: Company announcement
Rox has already identified nickel and copper geochemical anomalies on E53/1802, but acknowledged he area has not been effectively explored for nickel sulphides.
The second tenement, E53/1788, is located along strike to the south of a 7km long gold-in-regolith anomaly currently held by Rox at the Dam and Dirks prospects, extending the potential gold-bearing corridor to more than 10km.
“We now cover all of the areas that we want to have in this project at the current time,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.
“These two new tenements offer Rox some very prospective additional ground, being along strike from known nickel sulphide and gold mineralisation.
“In particular, given our exciting nickel sulphide discoveries, adding another 10 kilometres of potential strike gives us much more scope to expand the already impressive resource base we are identifying.
“In addition, the new gold tenement already has a significant aircore geochemical anomaly on it that hasn’t been tested with RC drilling, so there is the potential to add to our gold resources also.”