Rox Resources (ASX: RXL) has announced the grant of a new 109km2 exploration licence, EL27541, “Myrtle North” immediately adjacent to its current tenement at Myrtle in the Northern Territory.
At Myrtle Rox has defined a very large resource of 43.6 million tonnes @ 4.09% Zn, 095% Pb for
5.03% Zn + Pb (announced to ASX on 15 March 2010).
This resource, which is still open to the north and west, contains 2,193,000 tonnes combined insitu zinc and lead metal.
This new tenement, Myrtle North, extends from immediately north of the Myrtle deposit to just 6km south of the world class McArthur River Zinc mine.
Preliminary investigations by Rox has identified a number of targets for SEDEX style Pb – Zn mineralisation similar to Myrtle and McArthur River.
In particular a number of electro-magnetic geophysical anomalies, similar to Myrtle and McArthur River are present.
Rox’s Managing Director, Ian Mulholland, said “we are very pleased to have acquired this prospective ground. In only two years since acquiring the Myrtle project we have defined a very large zinc resource and now have a ground package of 488km2 covering some of the most prospective acreage in the area.”
Rox is integrating data from this new tenement in its plans for further field work in 2010.
Disclosure: The author holds no positions in the company