Rox schedules RC drilling for Bonya

THE CONFERENCE CALLER: Rox Resources (ASX: RXL) will be presenting on the final day of Diggers & Dealers, however that didn’t deter the company from releasing news.

The company reported results from a recent ground EM survey it carried out at the Bonya project (RXL earning up to 70%) located 350 kilometres east of Alice Springs in the Northern Territory.

The Bonya project sits adjacent to the Jervois copper deposit of KGL Resources (ASX: KGL), which boasts a Resource of 13.5 million tonnes at 1.3 per cent copper, 25 grams per tonne silver.

The ground EM survey looked at three previously identified VTEM anomalies.

Rox said the survey produced results very similar to the VTEM with similar responses and interpreted conductive plates.

 

Bonya VTEM showing interpreted geology (black lines) and fold axis (red
line). Targets BVTEM_01, 02, 04 and 05 lie on the JV tenement, while
target BVTEM_03 lies on Rox’s wholly-owned tenement. Source: Company
announcement

 

The company said one of the anomalies (BVTEM_04) has associated copper carbonate (malachite) staining on the outcropping rocks and a copper-in-soil anomaly, which it has interpreted to suggest the presence of copper mineralisation below.

Synthesising geology from surface mapping, aerial photo interpretation, magnetics and EM data demonstrate the targets to be quite clearly related to a fold structure with the old Bonya mine located in the nose of the fold (possibly along the fold axis) and the EM targets lie along strike along the flanks of the fold.

An RC drilling program is scheduled to commence in late August to test these targets.

Rox indicated that should it have some success with this program other targets generated by the VTEM survey can be prioritised for drill testing.

Email: admin@roxresources.com.au

Website: www.roxresources.com.au