Rox Resources revisits Mt Fisher gold project potential

THE DRILL SERGEANT: Rox Resources (ASX: RXL) has made use of the current strength of the gold price environment to shine a new light on the company’s Mt Fisher gold project in Western Australia.

The company had previously released a JORC 2004 standard Mineral Resource of 973,800 tonnes at 2.75 grams per tonne gold for 86,080 ounces.

This is currently being updated to JORC 2012 compliance.

Rox said previous drilling at the project indicates high-grade gold potential, including:

9 metres at 7.1 grams per tonne gold;

3m at 17.4g/t gold;

4m at 9g/t gold; and

11m at 5.3g/t gold.

Rox indicated it has identified potential to expand this resource with the location of a shallow zone of mineralisation at the Dam prospect that may be extractable by heap leach methods.

The first stage target for this zone is 50,000 contained ounces of gold.

A recently acquired option over tenement E53/1788 located to the south of the Dam trend, which includes the Shiva and Ravana prospects, has extended the major gold-in-regolith anomaly to over 12 kilometres in strike.

“With the price of gold up 15 per cent since our last project evaluation, the Mt Fisher gold project is looking even stronger,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.

“The gold-in-regolith anomaly is of significant size and contains a large amount of gold.

“We strongly believe this indicates a deeper source of gold, and from the amount of gold in the weathered regolith that gold source must be sizeable.

“In addition the identification of near surface mineralisation is an exciting development.”

Email: admin@roxresources.com.au

Website: www.roxresources.com.au