Yearly Archives: 2016

Aircore Drilling Results From Fisher East

By | Announcements | No Comments

ESULTS

Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce recent aircore (AC) drilling results from the Fisher East nickel sulphide project 500km north of Kalgoorlie, Western Australia (Figure 1).

The program of 2,540 metres consisting of 49 angled holes was designed to better define the target zones at the Mt Tate and Horatio prospects, and to test EM anomalies along strike to the south of Horatio. In addition an encouraging result north of the Sabre prospect has been received. Significant results were:

Read More….

Extension of Bonya Farm-In

By | Announcements | No Comments

The directors of Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) are pleased to advise that agreement has been reached with farm-in and potential joint venture partner Arafura Resources to extend the stage 2 earn-in period on the Bonya project by 1 year.

Rox is earning-in to the Bonya project via a Farm-in and Joint Venture Agreement with Arafura Resources Limited (“Arafura”). Rox has already earned a 51% interest by expenditure of $500,000 between 10 December 2012 and 10 December 2014. Rox elected to continue to earn-in to the project and increase its interest to 70% by expenditure of a further $1,000,000 by 10 December 2016.

Read More….

Aircore Drilling Starts at Fisher East

By | Announcements | No Comments

Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce that AC drilling has commenced at the Fisher East nickel sulphide project 500km north of Kalgoorlie, Western Australia (Figure 1).

The program of 3,000 metres consisting of 49 angled holes will better define the target zones at the Mt Tate and Horatio prospects, and three as-yet unnamed EM anomalies (MTVTEM_06, _07 and _08) along strike to the south for follow-up RC drilling (Figure 3).

The AC drilling program is expected to take about 10 days to complete, with assay results available within 3-4 weeks after that.

Read More….

Sale of Reward zinc-lead project

By | Announcements | No Comments

On 17 August 2016 Rox Resources Limited (ASX:RXL) (“Rox” or “the Company”) advised that it had accepted an offer from Marindi Metals Limited (“Marindi”) for the Company’s interest in the Reward zinc-lead project.

Under the Earn-in and Joint Venture Agreement (“JVA”) between Rox and Teck Australia Pty Ltd (“Teck”) Rox is obliged to offer to sell its interest in the Reward Project to Teck on the same terms and conditions as any offer Rox intends to accept.  Teck has been provided with such an offer (“Offer”).

Read More….

Offer for Reward Project

By | Announcements | No Comments

On 19 July 2016, Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) advised that IMI Zinc Exploration Pty Ltd (“IZE”), a wholly owned subsidiary of IM Medical Limited (ASX: IMI) (“IMI“), had made an offer to acquire Rox’s interest in the Reward zinc-lead project in the Northern Territory for $14.8 million (“IMI Offer“).  The IMI Offer comprises $2.0 million payable in cash and the issue of IMI shares valued at $12.8 million.

The IMI Offer is subject to a 30 day exclusivity period to allow Rox to complete due diligence and remains open for acceptance by Rox until 17 August 2016.

Read More….

Share Placement

By | Announcements | No Comments

The directors of Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) are pleased to advise that agreement has been reached to place approximately 55.5 million shares at $0.018 per share to raise approximately $1.00 million (“Share Placement”) before costs. The placement was made to Australian based institutions and sophisticated investors.

Read More….

 

Offer to acquire Reward Zinc JV Interest

By | Announcements | No Comments

IM Medical Limited (ASX: IMI, IMIO, IMIOA) (“IMI” or “the Company”) is pleased to announce that it has entered into an exclusivity agreement with Rox Resources Limited (“Rox”) in relation to an offer to acquire Rox’s interest in the Reward zinc-lead joint venture (the “Offer”) through IMI’s wholly owned subsidiary IMI Zinc Exploration Pty Ltd. The Reward project is currently owned 49% by Rox and 51% by Teck Australia Pty Ltd (“Teck”), a subsidiary of Teck Resources Limited (the “Reward JV”). Teck has the option to increase its JV interest to 70% by spending A$15 million in total by 31 August 2018. As at 31 March 2016 Teck had spent approximately $13.85 million.

The parties have entered into an exclusivity agreement which allows 30 days for acceptance by Rox of the $14.8 million Offer, comprised of $2.0 million in cash and the issue of $12.8 million of ordinary shares in IMI. Under the terms of the acquisition, Rox will become the major shareholder in IMI with a shareholding expected to be between 50% and 60% of IMI’s issued capital. IMI, which is currently suspended, intends to seek reinstatement on the ASX on completion of the acquisition.

Read More….

 

Exclusive $14.8M Agreement for Reward Zinc Project

By | Announcements | No Comments

Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce that IMI Zinc Exploration Pty Ltd (“IZE”), a wholly owned subsidiary of IM Medical Limited (ASX: IMI) (“IMI“), has today made an offer to acquire Rox’s interest in the Reward zinc-lead project in the Northern Territory (Figure 1) (“Offer“).

Subject to Rox entering into an Exclusivity Agreement, which Rox has agreed to do, the Offer remains open for acceptance until 17 August 2016 (“Exclusivity Period“). Further details of the Exclusivity Agreement and the Offer are set out below.

The Exclusivity Period allows Rox 30 days to complete due diligence on the $14.8 million Offer from IZE, which comprises $2.0 million payable in cash and the issue of $12.8 million worth of shares in IZE’s parent company, IMI.

Read More….

 

$72,000 Drill Funding Secured for Fisher East

By | Announcements | No Comments

Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce it has been awarded three grants under the WA Government’s Exploration Incentive Scheme (EIS), totalling $72,000 to support exploration at the Company’s 100% owned Fisher East nickel project, located 450km north of Kalgoorlie in Western Australia (Figure 1).

The co-funding will be allocated to drilling at the Sabre prospect which is one of several nickel sulphide targets at the Fisher East nickel project (Figures 1 & 2). Under the EIS guidelines, the funding covers direct drilling costs which Rox is required to match.

Read More….