Rox Resources Limited (ASX:RXL) ("Rox" or "the Company") is pleased to report a new nickel discovery from an aircore drilling program undertaken at its 100% owned Fisher East Nickel Project, 500km north of Kalgoorlie in Western Australia.
Rox Resources Limited
Rox Resources Limited (ASX:RXL) is an Australian listed company with advanced gold and nickel projects in Australia. Rox owns a 50% interest in the Youanmi Gold Mine, and wholly-owns the Mt Fisher Gold project and the Fisher East and Collurabbie Nickel Projects, all located in Western Australia.
The Youanmi Gold Mine is the company's flagship project and offers significant upside in both development and exploration potential. Rox co-owns the Youanmi Gold Mine with Venus Metals Corporation Limited (ASX:VMC) through a 50% ownership, with the ability to increase ownership in the mine to 70%. Rox is responsible for the management of the Youanmi Gold Mine.
The Youanmi Gold Mine has a JORC 2012 compliant Mineral Resource Estimate of 12.4Mt at 2.97g/t Au for 1,190,600 ounces of gold, including a 'near surface' portion of 10Mt at 1.65g/t Au for 532,000 ounces of gold.
The Company is well-funded to develop and explore the Youanmi Gold Mine with approximately $11.4 million in cash and receivables.
Rox Resources (ASX:RXL) 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.
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