Total Nickel Inventory at Fisher East Project Increased By More Than 100%
With about two thirds of the resource sitting in the indicated category, Musket has an indicated and inferred resource of 2.1 million tonnes at 1.8% nickel for 37,500 tonnes of contained nickel, increasing the total project resource to 72,100 tonnes of nickel.
Rox managing director Ian Mulholland said the resource upgrade at Fisher East demonstrates the continued prospectively of the Fisher East nickel sulphide belt and that the company was very close to the critical mass required for development.
"Our next step is to do a high level scoping study where we'll start to look at our mining and processing options as well as costs," he said.
"Musket contains a very high grade core of approximately 100,000 tonnes grading 10.1 per cent nickel which lies close to surface; this would be an obvious economic driver for any planned development."
Mr Mulholland said he believes the project, which remains open at depth and along strike, has the potential to grow and that Rox will continue to explore its prospectively.
"More resources gives you more options, especially if you can prove up a number of deposits with different metallurgical and grade characteristics. We think that there's very strong potential to double the resources again, even on what we've got now."
Rox recently announced three new nickel targets at Fisher East - Cutlass, Fisher South and Jims and planning has commenced for a ground electro-magnetic survey to better define the anomalies before RC drilling would be carried out.
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About Rox Resources Limited
Rox Resources Limited (ASX:RXL) is an Australian listed company with advanced base and precious metals exploration projects in Australia: the Mt Fisher Gold and Fisher East Nickel Projects (Western Australia), the Reward Zinc-Lead Project (Northern Territory) and the Bonya Copper Project (Northern Territory).
The Company employs advanced geophysical and geotechnical exploration techniques and the latest technology to add value to its projects, seeking to increase resources, convert resources to mineable reserves and develop its projects towards becoming producing mines. The most advanced of which, is the Fisher East Nickel Project.
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