Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report that a 4,000 metre 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.
Managing Director Ian Mulholland commented, “This new diamond drilling program is designed to define the limits of the large high grade zinc mineralised system already discovered at Teena. The results will give us a better idea of the size dimensions and therefore resource potential.”