Rox receives encouraging drill results

THE DRILL SERGEANT: Rox Resources has received results from RC drilling conducted on its Marqua phosphate project located close to the Queensland-Northern Territory border 300 kilometres south-west of Mount Isa.

The company completed a 29 hole, 1,900 metre RC drilling program in December 2011, which was designed to:

–    Confirm high grade areas at Coquina Creek;

–    Test new prospect areas such as Mauritania; and

–    Drill around the periphery of previously known mineralisation to test the strike extent.

Marqua project location. Source: Company announcement

High grades intersected at Marqua Phosphate project, include:

 –    3 metres at 29.8 per cent phosphate from 45 metres;

–    4m at 28.6 per cent phosphate from 13m;

–    3m at 22.6 per cent phosphate from 25m; and

–    1m at 21.8 per cent phosphate from 15m.

“These results confirm our initial confidence in the geological modelling at Marqua and provide a strong focus for future exploration and testwork,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“We have a high level of confidence that further high grade phosphate results can be generated by additional drilling.

“Currently a phosphate bearing horizon extending over 30 kilometres in strike length and dipping to the north has been drill tested at nominally one kilometre spacing, with closer spaced drilling in areas of outcrop, or higher grades.

“This extensive mineralised system has not been tested at depth, with the deepest drill only reaching 100 metres in depth, and most testing to only 50 metres.

“Potential exists for a substantial phosphate resource to be defined at Marqua with further drilling, especially down dip to the north from known areas of high grade phosphate mineralisation.”