Fires Up on New Nickel Discovery
The Company recently released a very positive scoping study on its flagship Fisher East Nickel Sulphide Project in the Western Australian goldfields region, and also announced a new nickel sulphide discovery at its Sabre Project.
The Sabre discovery, lying 6 km along strike of the known Camelwood and Musket Projects, demonstrates the exploration potential of the region, and the potential for further discoveries to be made along the Mount Fisher Greenstone Belt, which is almost entirely controlled by Rox Resources.
The scoping study outlined two financially robust development options for the development of a box cut decline and underground mining operation at Fisher East.
The first option is to develop a 500,000 tonnes per annum processing plant at Fisher East to produce nickel concentrates for a capital cost of approximately $85 million.
The second option involves toll milling ore and selling it to a third party for processing into nickel concentrates for a capital cost of approximately $21 million.
Both options have demonstrated a robust economic return based on current nickel prices, exchange rates and Mineral Resources, and the economics are expected to improve significantly as further drilling defines additional sources of nickel sulphide mineralisation and increases the mine life of the project. Rox has committed to completing a Pre-Feasibility Study on the Fisher East Nickel Sulphide Project.
In addition to its WA nickel project, Rox also has a significant investment in a joint venture with Teck Australia to explore one of Australia's largest undeveloped zinc projects at Teena/ Reward, located next to the McArthur River Zinc Project in the Northern Territory.
Rox also owns 100% of a copper play at Bonya in the Northern Territory, which lies in the heart of a known copper producing region and adjacent to the Jervois Copper project.
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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.
Rox Resources Limited
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