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$72,000 Drill Funding Secured for Fisher East

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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.

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World Class Zn-Pb Resource at Teena

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce a maiden Inferred Mineral Resource for the Teena zinc-lead deposit, located 8 km west of the McArthur River zinc-lead mine in the Northern Territory (Figure 1).

The Teena deposit forms part of the Reward zinc-lead project, subject to an option/joint venture (“Rox-Teck JV”) agreement, currently owned 49% by Rox and 51% by Teck Australia Pty Ltd (“Teck”) (51%), a subsidiary of Teck Resources Limited. Teck has the option to increase its JV interest to 70% by spending up to A$15 million in total by 31 August 2018. As at 31 March 2016 Teck had spent approximately $13.85 million.

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$10M Gold Joint Venture

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to announce the signing of a Terms Sheet with Doray Minerals Limited (“Doray”) for an earn-in joint venture over its Mt Fisher gold project located in the north eastern goldfields of Western Australia. Doray (ASX:DRM) is a highly successful and leading mid-tier gold miner and explorer.

The Earn-in Joint Venture (JV) covers those tenements at Mt Fisher which are prospective for gold, but specifically excludes the Fisher East Nickel project tenements.

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Mt Fisher Gold Project

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In light of the current strong gold price environment Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to advise on a number of developments at is Mt Fisher gold project.

A Mineral Resource of 973,800t @ 2.75 g/t Au for 86,080 ounces was previous estimated to JORC 2004 standard (ASX:RXL 10 February 2012), and is currently being updated to JORC 2012 compliance.

In addition, potential to expand this resource has been identified with the location of a shallow zone of mineralisation at the Dam prospect that may be extractable by heap leach methods. The first stage target for this zone is 50,000 contained ounces of gold.

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Quarterly Report for 31 December 2015

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Reward Zinc-Lead Project, NT

  • Drilling continues to define a globally significant zinc-lead deposit at Teena with further excellent intersections of mineralisation:
  • Lens 2:   21.2m @ 18.6% Zn+PbTNDD022:    20.8m @ 12.8% Zn+Pb, including

 

    • 15.1m @ 16.4% Zn+Pb
    • TNDD021:    19.7m @ 14.9% Zn+Pb
    • TNDD020:    35.4m @ 13.2% Zn+Pb, including
  • Lens 1:   6.8m @ 12.5% Zn+PbTNDD022:    5.1m @ 9.0% Zn+Pb, includingFisher East Nickel Project, WA

 

  • 3.8m @ 11.0% Zn+Pb
  • TNDD021:    7.2m @ 9.2% Zn+Pb
  • TNDD020:    12.8m @ 9.4% Zn+Pb, including
  • A Pre-Feasibility level mining study was initiated.

 

Bonya Copper Project, NT

  • RC drilling program successfully intersected mineralisation at the Bonya Mine prospect and also at a new prospect, Green Gully, including:
  • 2m @ 3.2% Cu from 29m at Green Gully, and
  • 6m @ 2.6% Cu from 140m at the Bonya Mine.

 

  • Corporate
  • Rox Resources named Explorer of the Year at the Australian Mining Prospect Awards in October 2015.
  • Successful capital raising of $2.0 million

 

 

 

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Copper Intersected at New Prospect

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report more high grade copper results from the recent reverse circulation (RC) drilling program at its Bonya copper project, located 350km east of Alice Springs in the Northern Territory.

The drilling was undertaken at the Bonya Mine prospect to follow up spectacular drilling results received last December (38m at 4.4% Cu) and two new prospects , Green Gully and Green Hoard, (Figure 1).

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Another Stunning Result From Teena

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report another excellent drill result from diamond drilling at the Teena zinc prospect (Figure 1), which forms part of the Reward project in the Northern Territory.

Hole TNDD022 was the fourth and final hole drilled at Teena this year (Figure 2), and another strong intercept of high grade zinc and lead sulphide mineralisation was returned in both defined lenses:

Lens 2:          20.8m @ 12.8% Zn+Pb from 849.7m, including

15.1m @ 16.4% Zn+Pb from 855.4m, and

Lens 1:          5.1m @ 9.0% Zn+Pb from 892.2m, including

3.8m @ 11.0% Zn+Pb from 892.2m

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Another Exceptional Hole at Teena

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Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report another exceptional drill result from diamond drilling at the Teena zinc prospect (Figure 1), which forms part of the Reward project in the Northern Territory.

Hole TNDD020 was drilled on the same north-south section as holes TNDD021 and TNDD014 (Figures 2 & 3), and intersected further high grade zinc and lead sulphide mineralisation in both defined lenses:

Lens 2:          35.4m @ 13.2% Zn+Pb from 817.0m, including

21.2m @ 18.6% Zn+Pb from 831.2m, and

Lens 1:          12.8m @ 9.4% Zn+Pb from 895.2m, including

6.8m @ 12.5% Zn+Pb from 895.2m

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Rights Issue Prospectus

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Prospectus for a renounceable rights issue to raise approximately $1,668,310 (before costs) at an issue price of 1.5 cents per New Share with Eligible Shareholders having an Entitlement to subscribe for 1 New Share for every 10 Shares held (Entitlement Offer).

The Entitlement Offer is partially underwritten by Patersons Securities Limited.

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