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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce plans to vend it’s Mt Fisher gold project in Western Australia into a newly established, 100%-owned subsidiary, Helios Gold Limited (Helios), and list this company on the Australian Stock Exchange (“ASX”) via an Initial Public Offering (“IPO”).
Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce the commencement of an aircore drilling program at its Collurabbie project 250km north of Laverton in Western Australia (Figure 1).
The drilling program is scheduled to comprise 6,000 metres, and will test a number of targets (Figure 2) within the Company’s tenements.
Rox Managing Director, Ian Mulholland said: “This will be our first on-ground exploration at Collurabbie, and we’re looking forward to implementing the exploration techniques that we have used at Fisher East to successfully deliver a number of nickel sulphide discoveries.”
“This follows up our announcement of a maiden Inferred Mineral resource at the Olympia deposit of 573,000 tonnes grading 1.63% Ni, 1.19% Cu, 0.082% Co, 1.49g/t Pd, 0.85g/t Pt made recently (ASX:RXL 18 August 2017), showing the great potential of this project area.”