Yearly Archives: 2015

Company Update

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) wishes to report progress on the Company’s projects.

Pre-Feasibility studies (ASX:RXL 22 July 2015) on the Fisher East Nickel Sulphide project located 500km north of Kalgoorlie, WA are progressing well.

Resource estimates are underway incorporating new data from recent drilling and new geological interpretations. The resource estimate will also include the Cannonball deposit for the first time. The resource estimate is expected to be finalised within the next few weeks.

At the same time a geotechnical assessment has been completed, which together with the resource estimates will then allow a detailed mine plan and schedule to be developed and detailed costings derived. This work is expected to take another two months to complete.

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Aircore Drilling Intersects Nickel Sulphides at Fisher East

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report further exciting results and the intersection of nickel sulphides from an aircore drilling program recently completed at its 100% owned Fisher East Nickel Project, 500km north of Kalgoorlie in Western Australia.

The drilling program of 59 holes for 3,586 metres was designed to test a number of EM conductors identified from recent airborne VTEM surveys.

Drilling of three EM conductors has returned highly anomalous nickel, copper and platinum group element (PGE) values, including the existing Mt Tate prospect and EM conductors MTVTEM_03 and MTVTEM_05 (now collectively named the Horatio prospect) (Figure 2).

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Rox Strengthens Board

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce that Mr Stephen Dennis has been appointed as a non-executive director of the Company.

Until recently, Mr Dennis was Managing Director and CEO of CBH Resources Limited, a zinc-lead producer which is owned by Toho Zinc Co Ltd of Japan and which has operating mines at Broken Hill and Cobar in NSW.

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Rox Acquires 100% of Fisher East Nickel Tenements

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce that it has exercised its option to acquire 100% the mineral tenements that hold the Camelwood, Musket and Cannonball nickel sulphide mineral resources at its Fisher East nickel project located 500km north of Kalgoorlie, WA.

The Mineral Resource at Fisher East currently sits at 3.6 Mt @ 2.0% Ni for 72,100 tonnes (159 million pounds) of contained nickel (ASX:RXL 4 September 2014) with an update expected this quarter.

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Pre-Feasibility Study Commences on Fisher East

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report that a Pre-Feasibility Study has commenced on the Fisher East Nickel Sulphide project located 500km north of Kalgoorlie, WA.

The Pre-Feasibility Study follows the Scoping Study completed earlier in the year which showed the project to be technical low-risk and financially robust using the various assumptions current at the time.

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Aircore Drilling at Fisher East

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report that an aircore drilling program has commenced on the Fisher East Nickel Sulphide project located 500km north of Kalgoorlie, WA.

The drilling program will test several strong EM conductors identified in the recent VTEM survey (ASX:RXL 16 June 2015).

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Drilling Commences at Teena

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report that a 4 hole diamond drilling program has commenced at the Teena prospect, which forms part of the Reward zinc project in the Northern Territory.

The Reward project is subject to an option/joint venture (JV) agreement between Rox (49%) and Teck Australia Pty Ltd (“Teck”) (51%), a subsidiary of Canada’s largest diversified resource company Teck Resources Limited. Teck have elected to increase their JV interest to 70% by expending up to $15 million in total by 31 August 2018.

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New EM Conductors Identified at Fisher East

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report further promising exploration results from its Fisher East Nickel Project located 500km north of Kalgoorlie in Western Australia.

Rox recently completed an airborne Versatile Time Domain Electro-Magnetic (VTEM) survey along strike and to the south of its Camelwood and Musket nickel sulphide deposits.

The survey was very successful, with a number of conductors  (Figure 1) identified along the trend of the Fisher East ultramafic unit that hosts several nickel sulphide deposits discovered by Rox over the last two and a half years.

One area about 5km to the south of the new Sabre discovery is particularly interesting with a cluster of five conductors, with other conductors further south than those.

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Rox SPP Over-Subscribed

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Rox Resources Limited (ASX: RXL) (“Rox”) is pleased to announce that the Company’s Share Purchase Plan (“SPP”) has closed over-subscribed with $3.2 million raised, an outstanding result given current market conditions. In addition Rox will complete a top-up Placement of $0.7 million on the same terms as the SPP. The Placement is being managed by Patersons Securities.

The price for the shares to be issued under the SPP and top-up Placement (“New Shares”) has been determined to be $0.0200 per New Share, being a 20% discount to the 5 day volume weighted average price (“VWAP”) immediately prior to the issue of the shares, and accordingly the Company expects to issue about 195,000,000 New Shares for a total raised of approximately $3.9 million.

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