Rox Resources releases Camelwood maiden

THE DRILL SERGEANT: Rox Resources (ASX: RXL) has completed a maiden Mineral Resource estimate for the Camelwood nickel sulphide deposit.

The deposit is part of the company’s Mt Fisher project and is located approximately 500 kilometres north of Kalgoorlie in Western Australia.

The resource estimate comprises 1.6 million tonnes at 2.2 per cent nickel containing 34,600 tonnes of contained nickel.

Rox said it was encouraging that 40 per cent of the resource estimate sits in the higher confidence Indicated Mineral Resource category, using a one per cent nickel lower cut-off.

At the higher cut-off grade of 2.5 per cent nickel the Mineral Resource contains 16,200 tonnes of nickel with approximately 47.5 per cent in the Indicated Mineral Resource category.

The resource at this higher cut-off grade is 520,000 tonnes at 3.1 per cent nickel.

“We are highly encouraged by the maiden resource estimate at Camelwood, which provides an excellent foundation on which the company can build,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“It shows that there is a significant amount of nickel sulphide mineralisation at Camelwood, which remains open in all directions, and which should increase with further drilling.

“Further drill testing of the Fisher East area is currently underway to explore for repeats of the Camelwood deposit.

“We remain confident that our exploration activities will unearth additional deposits across our extensive 655 square kilometre landholding at Mt Fisher.

“Deposits of the style of Camelwood do not typically occur in isolation.”