Rox Resources drilling extends gold mineralisation below Mt Fisher open pit

Rox Resources (ASX: RXL) is making solid progress with drilling programs at its various projects around Australia that commenced during October 2011.

Projects include the Mt Fisher Gold Project, Marqua Phosphate Project and Myrtle Zinc Project.

Ian Mulholland, Rox Resources managing director, told Proactive Investors today "we should receive the rest of the drilling assays, from both Mt Fisher and Marqua, before the end of the year, and will then be working on resource estimates to publish in the first quarter of 2012.

"Teck will commence drilling at Myrtle as soon as possible in 2012 after the wet season."

Mt Fisher Gold Project

At the Mt Fisher gold project, located 450 kilometres north of Kalgoorlie, drilling has confirmed the extension of gold mineralisation beneath the Mt Fisher open pit.

Highlights include: 5 metres at 4.34 grams per tonne (g/t) gold from 126 metres, and 2 metres at 4.78 g/t gold from 158 metres.

The 5,500 metres in 34 holes reverse circulation drilling program commenced in late October and is still ongoing.

To date 29 holes have been drilled for about 4,900 metres and assay results have been received from 13 of the planned 34 holes.

Mt Fisher is shaping up as an exciting gold project based on results to date and is believed to be a similar geological sequence to Navigator Resources' (ASX: NAV) 3.6 million ounce Bronzewing gold project.

Drilling is aiming to convert a number of potential exploration targets into an initial JORC Resource by early next year.

Damsel Prospect

Continuity of gold mineralisation has been confirmed at the Damsel prospect where an exploration target of 400,000 – 600,000 tonnes grading 4–5 g/t gold for 50,000–100,000 ounces has been defined.

Best intercepts include:

- 7 metres at 3.02 g/t gold from 120 metres;
- 3 metres at 4.90 g/t gold from 71 metres; and
- 12 metres at 2.28 g/t gold from 46 metres.

Marqua Phosphate Project

Drilling has been completed at the Marqua phosphate project, located 450 kilometres east of Alice Springs in the Northern Territory, with high grades indicated from hand held portable XRF scans.

The 29 hole, 2,000 metre reverse circulation drilling program's goal was to test the extent and grade distribution of phosphate mineralisation previously identified by drilling in 2008, as well as targets generated by recent soil sampling and geological mapping undertaken by Rox.

The phosphate target horizon at Marqua has a strike extent of over 30 kilometres and has only been drilled on very wide spacings.

Rox’s drilling will provide a more complete picture of the extent and potential of the phosphate deposits and also investigate two known higher grade zones.

Preliminary hand held portable XRF scans of drill samples indicate the presence of significant zones of phosphate mineralisation however laboratory assays from the drilling are still awaited.

Myrtle Zinc Project

Earn-in and potential JV partner Teck has suspended drilling at Myrtle zinc project due to unusually heavy seasonal rains cutting road access. The Myrtle zinc project is located 20 kilometres south of the McArthur River zinc mine in the Northern Territory.

The first hole has been drilled so far to 220 metres depth, but is still short of the target zone at about 400 metres depth. Teck intends to recommence drilling as early as possible in the new field season in 2012 to compete this planned 2011 program.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/22789/rox-resources-drilling-extends-gold-mineralisation-below-mt-fisher-open-pit-22789.html