THE DRILL SERGEANT: Rox Resources (ASX: RXL) reported assay results from a recently completed diamond drilling campaign at the company’s Fisher East nickel project, located 500km north of Kalgoorlie in Western Australia.
Rox Resources explained the overall aim of the diamond drill program was:
To extend the Musket and Camelwood deposits by testing strong downhole EM anomalies; and
To test a very strong one-kilometre-long EM conductor at Corktree, detected from surface, but not previously effectively drill tested.
Results received include:
4.3 metres at 2 per cent nickel from 701.7m, including 0.3m of massive sulphides grading 8.1per cent nickel from 701.7m
2.4m at 2.4 per cent nickel from 718.3m, including 0.2m of massive sulphides grading 5.2 per cent nickel from 718.9m, and
0.3m at 7.5 per cent nickel of massive sulphides from 288.8m.
“We are very pleased with the results from this Fisher East diamond drilling program,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.
“The result at Musket broadens the prospective area for drilling and indicates that mineralisation extends to at least 700 metres depth.
“In addition, the two drill holes at Camelwood have also indicated that the nickel sulphide system at Camelwood is more extensive than that currently contained in our existing resource.
“At Fisher East our continuing overall aim is to make a new game changing massive nickel sulphide discovery through exploration, while at the same time increasing resources at known deposits and continuing to assess development options.
“This latest drilling program has moved that goal forward, and we now know that the nickel sulphide systems at Musket and Camelwood are extensive and offer significant potential to develop a large resource base.
“Furthermore, we are encouraged by recent positive moves in the nickel price and the realisation that demand for electric vehicles and other batteries is going to put a lot of pressure on the class 1 nickel supply in the years ahead.
“Rox continues to position itself strongly by holding highly prospective nickel sulphides projects, and an extremely healthy cash balance.”