Rox Resources (ASX:RXL) - Managing Director, Alex Passmore
Managing Director, Alex Passmore
Source: The Market Herald
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  • Rox Resources (RXL) intersects “outstanding” gold mineralisation from the Mt Fisher and Mt Eureka gold projects in Western Australia
  • A total of 4800 metres of reverse circulation and 7000 metres of aircore drilling was undertaken in December to test high priority gold targets
  • Significant gold mineralisation was intersected in all target areas with grades peaking at 10.27 g/t gold from Mt Fisher and 8.89 g/t gold from Mt Eureka
  • Rox now plans to undertake follow-up RC drilling along strike and down dip of the newly identified mineralisation and samples have been sent for multi-element analysis
  • Shares in Rox have been trading 3.9 per cent higher at 40 cents

Rox Resources (RXL) has intersected “outstanding” gold mineralisation from the Mt Fisher and Mt Eureka gold projects in Western Australia.

A total of 4800 metres of reverse circulation (RC) and 7000 metres of aircore drilling was undertaken in December 2021 to test high priority gold targets generated via a geological and geophysical data review.

Drilling targeted the Mt Fisher Mine, the Dam/Damsel Gold Trend and the Wagtail, Taipan, Southern-Galway and Eureka North-West gold occurrences.

Notably, Rox intersected significant gold mineralisation in all target areas with the extensive nature and continuity of the gold indicating strong potential for new major gold discoveries.

Best results from Mt Fisher include 18 metres at 6.99 g/t gold from 69 metres including 10 metres at 10.27 g/t gold from 74 metres, and nine metres at 3.77 g/t gold from 219 metres including five metres at 6.31 g/t gold from 222 metres.

Better results from Mt Eureka include 13 metres at 6.81 g/t gold from 45 metres including nine metres at 8.89 g/t gold from 47 metres, and three metres at 3.96 g/t gold from 35 metres including two metres at 5.52 g/t gold from 35 metres.

“The Mt Fisher greenstone belt is one of the least explored belts of the prolific Yilgarn Craton, and these results shine a bright light on its potential gold endowment. This is an exciting development for Rox given our vast tenure position in the belt,” Managing Director Alex Passmore said.

“These results highlight in particular the potential of the Damsel prospect which features large-scale gold anomalies and many of the geological features of major gold systems in the Yilgarn.”

Rox now plans to undertake follow-up RC drilling along strike and down dip of the newly identified mineralisation.

Further, all samples have been sent for multi-element analysis to provide insight into the bed-rock geology and pathfinder elements.

Shares in Rox were trading 3.9 per cent higher at 40 cents at 1:45 pm AEST.

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