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  • Rox Resources Extends Camelwood Project With New Exploration Licence 0 comments
    Apr 5, 2013 1:49 AM

    Rox Resources (ASX: RXL) has secured an additional exploration licence that covers a sub-block along the southeastern extension of its Camelwood nickel sulphide deposit at Fisher East, Western Australia.

    The Department of Mines and Petroleum granted tenement E53/1716, which covers a 3.07 square kilometre area.

    "The grant of this tenement completes our landholding at Fisher East, and will enable us to commence step back drilling along the south-eastern portion of the deposit, once the necessary approvals have been received," managing director Ian Mulholland said.

    Under the terms of a heritage protection protocol agreed with the local native title parties, the next step will be an ethnographic heritage survey.

    Rox currently has an ongoing exploration program underway at Fisher East, and once the heritage survey is completed and approval of a Program of Works (PoW) is received from the Department of Mines and Petroleum, step back drilling can commence on E53/1716.

    The company had earlier this week intersected high grade nickel at Camelwood with notable intercepts of 1.2 metres at 5.2% nickel including 0.7 metres at 7.8% nickel from 388.7 metres and 3.1 metres at 3.4% nickel from 384.6 metres.

    Continued reverse circulation drilling has also extended the strike length of nickel sulphide mineralisation to over 800 metres.

    Diamond drilling is continuing to test down dip extensions of the nickel sulphide mineralisation intersected by nearer surface drilling.

    Reverse circulation drilling is ongoing, drilling a number of shallow 50m metre infill sections as well as continuing to define extensions to the north.

    Rox had $1.88 million in cash as of 31 December 2012.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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