Posts

THE DAILY ROADHOUSE

 

Metalicity Pegs New Tenements

THE BOURSE WHISPERER: Metalicity (ASX: MCT) announced the acquisition of a further four prospecting and exploration tenements in the Kookynie Area in the Goldfields region of Western Australia.

Marenica Energy Drills Koppies Mineralisation

THE DRILL SERGEANT: Marenica Energy (ASX: MEY) announced assay results from a Phase 2 reconnaissance rotary air blast (RAB) drilling program on the company’s Koppies prospecting in Namibia, Africa.

Rox Resources reports Further High-Grade Results from Youanmi

THE DRILL SERGEANT: Rox Resources (ASX: RXL), in conjunction with its Joint Venture partner Venus Metals Corporation (ASX: VMC), announced further results from an ongoing drilling campaign at the OYG JV which forms part of the wider Youanmi gold project in Western Australia.

Rox Resources reports Further High-Grade Results from Youanmi

THE DRILL SERGEANT: Rox Resources (ASX: RXL), in conjunction with its Joint Venture partner Venus Metals Corporation (ASX: VMC), announced further results from an ongoing drilling campaign at the OYG JV which forms part of the wider Youanmi gold project in Western Australia.

Rox Resources’ recent drilling at the Youanmi gold project has intersected more high-grade gold mineralisation.

Results received from Youanmi South and Commonwealth drilling include:

RXRC073
4m at 11.23 grams per tonne gold from 92m; (Youanmi South)

RXRC079
8m at 3.73g/t gold from 60m; and (Commonwealth)

RXRC077
3m at 5.45g/t gold from 87m. (Commonwealth)

The company said that drilling at the Plant Zone has continued to define shallow, potential ‘base load mill feed’ with new results showing continuations to shallow mineralisation including:

RXRC058
8m at 2.62g/t gold from 60m;

RXRC055
9m at 1.04g/t gold from 83m; and

RXRC056
8m at 1.03g/t gold from 44m.

“These results continue to show the excellent potential of the Youanmi belt and the OYG JV in particular and we look forward to presenting further results when they become available,” Rox Resources managing director Alex Passmore said in the company’s announcement to the Australian Securities Exchange.

“Drilling at the Plant Zone prospect, a granite stockwork style of mineralisation now delineated over a 1.4 kilometre strike length, continues to add scale to the overall project gold inventory.”

Rox’s recent drilling has been focussed on the Plant Zone (potentially base load mill feed) and the high-grade Commonwealth prospect.

The company expects to shift its focus onto the Youanmi South prospect following completion of geophysical surveying (drone mag).

The Youanmi South prospect has previously returned some of the best drill intersections of the current drill program.

 

Email: admin@roxresources.com.au

Web: www.roxresources.com.au

 

THE DAILY ROADHOUSE

 

Stavely Minerals Continues Thursday’s Gossan Growth

THE DRILL SERGEANT: Stavely Minerals (ASX: SVY) reported further news from the shallow, high-grade copper-gold discovery at the Thursday’s Gossan prospect, part of the company’s 100 per cent-owned Stavely copper-gold project in Victoria.

Calidus Resources Hits More Gold in Planned Klondyke Pit

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported a further batch of high-grade RC drilling results from the company’s Warrawoona gold project in the Pilbara of Western Australia.

Independence Group Makes Take-Over Bid for Panoramic Resources

THE BOURSE WHISPERER: Independence Group (ASX: IGO) rattled the boards of the ASX by announcing its intention to make an off-market takeover offer to acquire all of the ordinary shares of Panoramic Resources (ASX: PAN) it does not already own.

Galileo Mining Confirms Fraser Range Nickel Target

THE DRILL SERGEANT: Galileo Mining (ASX: GAL) recently completed aircore drilling at the company’s Lantern prospect, within the Fraser Range nickel belt of Western Australia.

Rox Resources Hits Healthy Gold Intersections at Youanmi

THE DRILL SERGEANT: Rox Resources (ASX: RXL) released results of an air core drilling program undertaken at the company’s VMC Joint Venture, located north of the historical Penny West gold mine and the historical Magenta and Columbia gold prospects in Western Australia.

 

Rox Resources Hits Healthy Gold Intersections at Youanmi

THE DRILL SERGEANT: Rox Resources (ASX: RXL) released results of an air core drilling program undertaken at the company’s VMC Joint Venture, located north of the historical Penny West gold mine and the historical Magenta and Columbia gold prospects in Western Australia.

The VMC Joint Venture between Rox and Venus Metals Corporation Limited (ASX: VMC) and is part of the wider Youanmi gold project.

Rox is earning a 50 per cent interest in the gold rights of the tenements comprising the JV, VMC is the manager.

The recent air core (AC) drilling program was designed to follow up on strongly anomalous lead-zinc-copper trends associated with anomalous gold identified during initial AC drilling that was announced in October.

Results from this second round of AC drilling include:

VRAC151
4 meters at 7.02 grams per tonne gold from 24m; and

5m at 2.41g/t gold from 60m to EOH.

VRAC161
4m at 0.94g/t gold from 32m.

Rox Resources said the gold mineralisation encountered in VRAC151 is open at depth and along strike and is located along an approximately north-northwest trending gold-anomalous zone close to the Youanmi Shear Zone and approximately five kilometres north of the historical Penny West gold mine.

“These air core results build on the growing recognition of the gold endowment of the Youanmi belt and importantly feed into our regional understanding of controls on mineralisation,” Rox Resources managing director Alex Passmore said in the company’s announcement to the Australian Securities Exchange.

“Impressively this intersection has identified a potential new corridor of mineralisation.”

 

Email: admin@roxresources.com.au

Web: www.roxresources.com.au

 

Rox Resources Hits Best Results to Date at Youanmi

THE DRILL SERGEANT: Rox Resources (ASX: RXL) declared the best drilling results achieved to date from a drilling campaign underway at the Youanmi gold project in Western Australia.

The Youanmi gold project (OYG JV) is a Joint Venture with Venus Metals Corporation (ASX: VMC).

Rox Resources has completed over 9,000 metres of drilling that it has received results for around 75 per cent.

Results received from Youanmi South drilling include:

RXRC063
12 metres at 12.7 grams per tonne gold from 80m;

RXRC064
12m at 8.5g/t gold from 44m;

RXRC053
4m at 11.2g/t gold from 110m; and

RXRC066
4m at 7.6g/t gold from 76m

Drilling at Plant Zone has defined shallow, potential base load mill feed, with new results showing continuations to shallow mineralisation including:

RXRC038
4m at 5.6g/t gold from 24m;

RXRC047
30m at 1g/t gold from 96m; and (depth continuation)

RXRC046
14m at 1.7g/t gold from 70m. (depth continuation)

Rox said its understanding of controls on mineralisation at Youanmi is rapidly increasing and as a result its targeting methodology has improved markedly as demonstrated by these results.

The company is looking forward to potentially translating this into strong resource growth at the project.

The RC drill program is ongoing and will continue into October, with resource estimation work to follow.

The company is testing both new conceptual targets that it considers to have the potential to open up new areas of mineralisation and drilling out positions of the Youanmi gold deposits or areas where it believes there is potential for repeats.

 

Email: admin@roxresources.com.au

Web: www.roxresources.com.au

 

Rox Resources Starts Youanmi Drilling

THE DRILL SERGEANT: Rox Resources (ASX: RXL) announced drilling has commenced at the company’s Youanmi gold project Joint Venture in Western Australia.

Rox Resources, along with JV partner Venus Metals (ASX: VMC) kicked off the 14,000 metre program that is to continue throughout August and September and is the first major and systematic exploration program carried out at the site since 1997.

The company said the drilling is testing both: (1) new conceptual targets that have the potential to open up new areas of mineralisation and (2) drilling out extension positions of the Youanmi gold deposits or areas where the JV considers there is potential for repeats.

Key focus areas for this campaign are the high-grade Commonwealth prospect and areas proximal to existing pits where there are likely extensions or repeats of mineralisation not mined in a $400 per ounce mining scenario (i.e. targeting a super pit concept).

Rox pointed out that many of the targets have been developed using technology that wasn’t otherwise available to earlier operators in the 1980s and 1990s.

“Following the completion of the Youanmi transaction only five weeks ago I am very excited to be embarking on the first major exploration campaign in this very prospective area since the 1990s,” Rox Resources managing director Alex Passmore said in the company’s announcement to the Australian Securities Exchange.

“Rox and its JV partner see real potential for new high-grade discoveries in the area and also for strong resource growth close to existing infrastructure at Youanmi.”

The undeveloped Commonwealth-Connemara deposits and mineralised trend is centred only four kilometres northwest of the Youanmi plant.

Gold mineralisation is from surface and hosted within a 3 metre to 10 metre wide zone of sheared quartz-veining and highly altered mafic volcanic rocks.

The series of shallow historical open pits at Youanmi were mined over 20 years ago under a much lower gold price environment.

Part of the existing Mineral Resource Estimate at Youanmi is derived from mineralisation near these pits, however limited drilling constrains the resource potential.

Rox indicated that the current drilling program will test for extensions both down dip of existing mineralisation and between the old pits.

 

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

 

Rox Resources Drilling at Mt Fisher

THE DRILL SERGEANT: Rox Resources (ASX: RXL) has commenced a substantial drilling program at the company’s 100 per cent-owned Mt Fisher gold project in the north eastern Yilgarn Craton, Western Australia.

Rox Resources explained the drilling is targeting shear zone hosted gold mineralisation in mafic / ultramafic bedrock that was delineated by earlier shallower drilling.

The company completed aircore drilling late 2017 (117 holes for 7,322 metres) that returned strong results and helped define RC gold targets at Mt Fisher.

New targets were identified at Damsel South and existing targets were confirmed and upgraded at Dirks and Shiva prospects.

Rox has previously delineated resources of 1.025 million toonnes at 2.7 grams per tonne gold for 89,059 ounces contained gold at the project.

This program is designed to extend these resources and to follow up new target zones.

“The program which comprises RC and Aircore drilling will run for approximately five weeks,” Rox Resources said in its ASX announcement.

“The program aims to discover new zones of bedrock mineralisation and confirm the potential for large shear hosted gold deposits.”

 

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

 

Rox Resources Appoints CEO Alex Passmore as Managing Director

THE BOURSE WHISPERER: Rox Resources (ASX: RXL) has appointed Alex Passmore as managing director.

Passmore has been CEO of Rox since the February 2019 and is a qualified geologist with extensive corporate experience.

Since his appointment, Passmore sourced and negotiated the recent acquisition of the Youanmi gold project and surrounding Joint Ventures.

“The appointment of Alex as managing director heralds the beginning of a new era for Rox, and I am certain we have an exciting time ahead of us,” Rox Resources chairman Stephen Dennis said in the company’s announcement to the Australian Securities Exchange.

“Under Alex’s stewardship we have already taken a significant step with the acquisition at Youanmi, and we are able to look to the future with confidence.”

 

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

 

Rox Resources Anoints Ian Mulholland Successor

THE BOURSE WHISPERER: Rox Resources (ASX: RXL) has appointed Alex Passmore to the position of Chief Executive Officer, commencing immediately.

Passmore is a qualified geologist with extensive corporate experience and is a well-known identity in the resources sector having been spent over ten years at Patersons Securities in roles such as Director – Corporate Finance, Head of Research, Resources Analyst, and Institutional dealer.

He was also Executive Director – Natural Resources & Institutional Banking for Commonwealth Bank of Australia for two years.

Rox Resources espoused Passmore’s qualifications as an experienced corporate executive and company director with recent appointments including Managing Director of Cookatoo Iron, Non-Executive Director of Aspire Mining, Non-Executive (and Executive) Director of Equator Resources Ltd/Cobalt One (which merged with TSX-listed First Cobalt Corp), and CEO of Draig Resources (now Bellevue Gold).

In these positions, Passmore played a role in acquiring assets of the companies, reorganising their capital and funding, and setting them on a path to success.

Passmore has also Mr Passmore’s appointment follows the announced retirement of Ian Mulholland from the Rox Board effective 30 April 2019.

“We are extremely pleased to have been able to secure the services of such a high calibre executive as Alex Passmore,” Rox Resources chairman Stephen Dennis said in the company’s announcement to the Australian Securities Exchange.

“His track record is very strong, and we look forward to a new chapter at Rox under Alex’s stewardship.”

Passmore said he was delighted to be joining Rox.

“It is very well placed, with a strong cash position, advanced projects at Mt Fisher, Fisher East and Collurabbie where existing resources are set to grow and drill ready targets are being followed up,” he said.

“The company continues to evaluate other growth opportunities which are complementary to the company’s strategic plan and expertise.”

 

Email: admin@roxresources.com.au

Website: www.roxresources.com.au

 

Rox Resources MD Calls Time

THE BOURSE WHISPERER: Rox Resources (ASX: RXL) announced that managing director Ian Mulholland has advised the Board of Directors of his intention to retire and step down from the position effective 30 April 2019.

Rox Resources is now on the hunt for a suitable replacement with Mulholland working on a reduced salary until his departure and being available to work with the Board and the new appointee to ensure a smooth transition.

“Ian was a co-founder of the company and has been with it since its inception in late 2003, leading to a successful IPO and ASX listing in April 2004,” Rox Resources chairman Stephen Dennis said in the company’s announcement to the Australian Securities Exchange.

“Along the way, Ian has made a significant contribution, including negotiation of a number of project acquisitions, including the Laos zinc project; the Reward zinc project, its subsequent Joint Venture with Teck, and the resulting sale of our interest for approximately $20 million; and the Mt Fisher gold and Fisher East and Collurabbie nickel projects that have led to JORC mineral resources being established and a Scoping Study completed on the Fisher East nickel project.

“The Fisher East nickel discovery led to Rox being awarded the Explorer of the Year in 2015 by Australian Mining, and the Teena zinc discovery resulted in Ian and two members of the Teck team sharing the prestigious AMEC Prospector Award in 2016.

“On behalf of the Rox Board of Directors, I want to thank Ian for his commitment and contribution to Rox over the past 15 years.

“We wish Ian well in his retirement, however I am certain he will continue to make a valuable contribution to the resources industry.”

In response Mulholland said he was proud of the achievements of Rox under his watch.

“It has been an honour and privilege to lead the company over the last 15 years,” <ulholland said.

“I wish to thank all of our staff, past and present, who have also contributed to our successes and supported me as managing director.

“I also wish to thank the three chairmen I have had the pleasure of working with, Dr Alistair Cowden, Mr Jeff Gresham, and Mr Stephen Dennis.

“I have benefitted greatly from their guidance and encouragement over the last 15 years.”

 

Email: admin@roxresources.com.au

Website: www.roxresources.com.au