(MENAFN- ProactiveInvestors - Australia) Rox Resources' (ASX: RXL) recent drilling has confirmed a significant nickel geochemical anomaly at its Fisher East prospect in Western Australia.
Results received from the rotary air blast drilling over the VTEM Anomaly MFA_04, where weathered sulphide material was intersected in a number of holes include:
- 28 metres at 0.28% nickel and 66ppm copper;
- 13 metres at 0.26% nickel and 68ppm copper;
- 8 metres at 0.40% nickel and 324ppm copper; and
- 8 metres at 0.35% nickel and 321ppm copper.
Examination of the geology intersected suggests that the sequence may be overturned, with a felsic metasediment footwall and the basal cumulate zone of the ultramafic, which is usually where nickel sulphide mineralisation occurs, lying on the east side.
"It is very exciting to discover such strong indicators of nickel sulphide mineralisation at Fisher East. We always thought the area had this potential and the results are now starting to support that belief," managing director Ian Mulholland said.
"The geochemical anomaly is of the same order of magnitude as that seen at other recent nickel sulphide discoveries such as Cosmos and Nova. Both of these prospects also had strong EM anomalies similar to Fisher East."
The remainder of the samples, including those from VTEM Anomaly MFA_05 about 5 kilometres to the south are still to be assayed.
Initial rotary air blast drilling at VTEM Anomaly MFA_05 had intersected anomalous nickel geochemistry of 12 metres at 0.12% nickel.
These anomalies were identified in a survey commissioned by Rox in 2011.
The next steps will be a fixed loop EM survey to better define the EM conductive zone, followed by deeper reverse circulation and/or diamond drilling.
Mt Fisher
The Mt Fisher project covers 485 square kilometres and is well endowed with gold along with strong potential for nickel.
It is located just 40 kilometres east of the prolific Yandal greenstone belt and 100 kilometres east of the main Wiluna greenstone belt.
Besides the nickel sulphide target that Mulholland described as being intriguing, Rox also has a number of strong gold targets to follow up at Mt Fisher.
Mt Fisher project hosts a JORC Resource of 973,000 tonnes at 2.75g/t for 86,080 gold ounces and is strategically located within 150 kilometres of four treatment plants.
Previous mining from underground and open cut was 27,000 ounces, with the mine currently hosting a remaining 25,000 ounce Resource.
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