Rox Resources drilling at Fisher East

THE DRILL SERGEANT: Rox Resources (ASX: RXL) has kicked off AC drilling at the company’s Fisher East nickel sulphide project, 500 kilometres north of Kalgoorlie in Western Australia.

The program of 3,000 metres will consist 49 angled holes with the aim of better defining target zones at the Mt Tate and Horatio prospects, and three as-yet unnamed EM anomalies (MTVTEM_06, _07 and _08) along strike to the south for follow-up RC drilling.

Rox expects the AC drilling program to take about 10 days to complete, with assay results anticipated within 3 to 4 weeks after that.

“We’re pleased to be drilling at Fisher East, in light of the 35 per cent rise in the nickel price (in A$) since the start of 2016,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“With the $10 million farm-out of our gold project and the $21 million offer from Marindi for our zinc project, we’re happy to be drilling at Fisher East, which we believe is a premium nickel asset with outstanding exploration upside and potential for a substantial boost in resource inventory.”

The Fisher East project has Mineral Resources of 4.2 Million tonnes grading 1.9 per cent nickel (Indicated 3.7 million tonnes at 1.9 per cent nickel, Inferred 0.5 million tonnes at 1.5 per cent nickel) for 78,000 tonnes of contained nickel metal.

Rox pointed out the nickel price recently reached $14,000 per tonne (US$10,800/t), citing supply issues in The Philippines and elsewhere expected to continue an overall upward trend for the metal.

Email: admin@roxresources.com.au

Website: www.roxresources.com.au