Yearly Archives: 2015

Teena Exploration Commences

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report that field exploration has commenced at the Teena and other prospects (Figure 2) on the Reward Zinc project in the Northern Territory.

Rox’s earn-in partner, Teck Australia Pty Ltd (“Teck”), a subsidiary of Canada’s largest diversified resources company, Teck Resources Limited, is currently funding all exploration activities and also managing the 2015 program.

The field program consists of a regional focused activities and a program specifically targeted at the high grade Teena zinc prospect.

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Bonya Project Update

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to provide an update of plans for the Bonya copper project, located 350km east of Alice Springs in the Northern Territory.

Drilling in the latter half of 2014 (ASX:RXL 20 October 2014, 5 November 2014, 1 December 2014) intersected massive copper sulphide mineralisation in a number of drill holes at the Bonya Mine prospect (Figures 1 & 2).

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Letter to Shareholders

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You will be aware that the Company has launched a Share Purchase Plan (“SPP”), open to all shareholders resident in Australia and New Zealand, whereby you can purchase up to $15,000 worth of Rox Resources Limited (Rox)shares at a discount to the market price. The Rox Board is pleased to report that the SPP has been underwritten for $3 million by Patersons Securities.

The funds raised will allow the Company to continue its work on the Fisher East nickel sulphide project which is shaping up to be a transformational one for Rox. We have been extremely busy since we last wrote to you in March and have achieved a number of goals that we set for ourselves. An update on these achievements and progress on Rox’s other projects appears below.

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Share purchase Plan Offer Document

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The Directors of Rox Resources Limited (“Rox” or “Company”) are pleased to extend an invitation to eligible shareholders to participate in the Company’s Share Purchase Plan (“Plan”) which was announced by the Company to the Australian Securities Exchange (“ASX”) on 11 May 2015 (“Announcement Date”).

The Plan allows eligible shareholders to purchase up to $15,000 worth of fully paid ordinary shares in the Company (“Shares”) without any brokerage or transaction costs.

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Nickel Sulphide Discovery Confirmed at Sabre

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report continued progress on the RC and diamond core drilling program being undertaken at the Sabre prospect on its 100% owned Fisher East Nickel Project located 500km north of Kalgoorlie in Western Australia.

Exciting aircore results from the Sabre prospect were reported to the ASX on 25 March 2015, including 5m @ 1.1% Ni from 74m in hole FEAC278.

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Significant Downhole EM Conductors

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report that Downhole EM surveying recently undertaken at the Musket and Cannonball deposits at its 100% owned Fisher East Nickel project 500km north of Kalgoorlie WA, has produced some exciting results.

In addition a diamond hole drilled at Musket North has extended mineralisation approximately 80m down plunge from a previous drill intercept (MFED058: 2.3m @ 4.1% Ni). The new intercept was:

MFED064:   0.7m @ 3.6% Ni, including 0.14m @ 9.1% Ni from 457.5m

The grade of 9.1% Ni for the massive sulphide in hole MFED064 is very encouraging for development of this high tenor mineralisation further down dip and plunge. Meanwhile, diamond hole MFED065, drilled on the bottom southern edge of the Musket resource did not intersect any significant mineralisation.

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Underwritten Share Purchase Plan

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to offer eligible shareholders the opportunity to apply for new, fully paid ordinary shares (New Shares)in Rox under a Share Purchase Plan (the Plan) to raise $3 million. The Plan is fully underwritten by Patersons Securities Limited (Patersons) who are acting as Lead Manager and Underwriter to the offer.

The Plan provides the opportunity for shareholders to subscribe for up to $15,000 worth of New Shares without incurring brokerage or other transaction costs.

The issue price will be determined at the issue date of New Shares under the Plan based on a 20% discount to the volume weighted average price of Rox’s shares traded on the ASX during the 5 days immediately prior to the issue date of the New Shares.

Funds raised under the Plan will be used to make the final option payment and secure 100% ownership of the Fisher East Nickel project, and for general working capital.

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Strong Cannonball Drilling Results

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report progress on the drilling program being undertaken at its 100% owned Fisher East Nickel Project located 500km north of Kalgoorlie in Western Australia.

Results from the Cannonball prospect, located roughly midway between the Camelwood and Musket nickel sulphide deposits, (Figures 1 & 2) indicate extensions to mineralisation previously reported:

MFEC101:    5m @ 1.4% Ni from 81m

MFEC102:    5m @ 3.4% Ni, including 2m @ 6.0% Ni from 114m

MFEC103:    3m @ 1.5% Ni from 87m

MFED066:   4.5m @ 2.3% Ni from 293.5m

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Quarterly Report For Period Ended 31 March 2015

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The first quarter of 2015 has continued to be highly productive for Rox Resources Limited (“Rox” or “the Company”).

At the Fisher East nickel project in Western Australia:

  • A Scoping Study was completed that defined the project as technically low risk and financially robust.
  • RC and diamond drilling commenced to increase mineral resources at Musket and Cannonball.
  • Aircore drilling defined new anomalies at Sabre and Tomahawk, and confirmed anomalies at Cutlass and Corktree.
  • Airborne magnetics and radiometrics were flown.
  • Ground EM was completed at several prospects.

At the Reward zinc-lead project in the Northern Territory:

  • The exploration program and budget for 2015 has been determined.
  • A steady rise in the zinc price due to declining sticks was noted.

At the Bonya copper project in the Northern Territory:

  • Planning for the 2015 drilling program commenced.

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Sabre Potential Being Revealed

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report continued progress on the RC and diamond core drilling program being undertaken at the Sabre prospect on its 100% owned Fisher East Nickel Project located 500km north of Kalgoorlie in Western Australia. Read More….