Exciting New Nickel Discovery at Sabre Prospect
The results are from the newly identified Sabre prospect located 6km south of the Musket nickel sulphide deposit (Figure 2 in link below). The drill holes are situated on E53/1802, acquired late in 2014 (ASX RXL 8 December 2014) under an Option agreement with a local prospector.
The nickel targets were identified using methods developed by Rox's exploration team, which successfully discovered the Camelwood, Musket and Cannonball deposits.
The high copper (Cu) and platinum group element (PGE) values in holes FEAC278 and 293 are on sections 200m apart along strike and are strongly suggestive of massive sulphides at depth.
Managing Director Ian Mulholland commented, "These first aircore results at Sabre are very exciting, as the highly anomalous copper, platinum and palladium results over a strike length of 200m are by far the best we've reported to date. The nickeliferous gossan drilled is indicative of nickel sulphide mineralisation at depth."
"We are enjoying remarkable exploration success along the Fisher East ultramafic belt which is confirming our long-held belief that we have discovered a new nickel sulphide camp at Fisher East similar to Kambalda and Leinster, not just an isolated deposit."
The results include:
FEAC278 8m @ 0.87% Ni, 1,500ppm Cu, 330ppb PGE (Pd+Pt+Au) from 72-80m,
including 5m @ 1.08% Ni from 74-79m
FEAC277 6m @ 0.45% Ni, 130ppm Cu, from 47-53m
FEAC293 6m @ 0.40% Ni, 808ppm Cu, 25ppb PGE from 65-71m
FEAC292 2m @ 0.35% Ni, 124ppm Cu from 79-81m
To view figures, please visit:
About 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 Limited