THE BOURSE WHISPERER: Rox Resources (ASX:RXL) has voiced its intention to commence further Rotary Air Blast (RAB) drilling at the Fisher East nickel prospect.
The Fisher East prospect is situated within the company’s Mt Fisher project, located north of Kalgoorlie in Western Australia.
Rox said the drilling is being carried out to follow up and better-define targets that it identified from recent RAB/ Air Core (AC) drilling.
The recent drilling intersected anomalous nickel geochemistry in an ultramafic unit, with one hole of the program intersecting 12 metres at 0.12 per cent nickel from 32 metres downhole.
Rox pointed out, what it considered to be of importance, is that the nickel geochemistry lies directly over a strong VTEM anomaly the company identified in 2011.
RAB/Aircore drill section, Fisher East, looking northwest. Source: Company announcement
The company said modelling of the VTEM anomaly that was completed by its geophysical consultants, Southern Geoscience had shown the conductor to conform to the enclosing rocks, dipping at 50 degrees to the east, and therefore indicating a bedrock source.
A second strong VTEM anomaly of similar size is present four kilometres to the north and will also be tested by the RAB drilling.
“Nickel sulphide mineralisation is known 25 kilometres further to the north where WMC drilled massive magmatic nickel sulphide (0.2 metres at 1.93 per cent nickel, 0.42 per cent copper) in 2003,” Rox Resources managing director Ian Mulholland said in the company’s announcement to the Australian Securities Exchange.
“That intersection also contained platinum and palladium up to 0.7 grams per tonne.
“At Fisher East, Southern Geoscience have modelled two strongly conductive bodies each up to 500 metres long and extending at least 500 metres deep.
“We only ran one line of RAB drilling over the original VTEM anomaly to see if we got any anomalous nickel.
“We have now got two very good nickel sulphide targets to chase.”