Rox Resources: Leachwell gold assays 9% higher at Moray Reef

Rox Resources (ASX: RXL) has improved gold assay values by 9% using a cyanide bottle roll leach method (Leachwell), compared to traditional fire assays, on selected samples from its Moray Reef gold deposit at Mt Fisher.

The Leachwell method is used where there is evidence of high grades or free gold and indicates the likely gold that can be recovered using the sort of extraction normally used in treatment plants.

Fire assay is the more traditional, and first pass, analytical method since it also recovers any gold that might be included in sulphide grains, or “refractory” gold.

Although only seven samples were re-analysed, the Leachwell results indicate a 9% higher gold grade on average.

Rox recently completed a 36 hole, 5,670 metre reverse circulation drilling program at Mt Fisher, located 450 kilometres north of Kalgoorlie in Western Australia, which included a number of high grade gold intercepts and confirmed the potential for several gold resources to be estimated.

Moray Reef

Recent drilling at Moray Reef returned a number of high grade gold intercepts and indicates the potential presence of a high grade resource.

Highlights, with all samples assayed by 50g fire assay, include:
- 4 metres at 13.9 grams per tonne (g/t) gold from 24 metres;
- 2 metres at 4.36g/t from 141 metres;
- 3 metres at 15.9g/t from 61 metres; and
- 2 metres at 16.9g/t from 49 metres.

Moray Reef is a high grade gold deposit wholly owned by Rox, within 120 kilometres trucking distance of the nearest gold treatment plant.

The deposit is still open at depth and potentially along strike, with parallel lodes also possible. Further drilling is warranted to fully investigate its extents.

One hole intersected a new lode, previously unknown at Moray Reef, from 24 to 28 metres, while another hole showed that mineralisation extends to at least 125 metres vertical depth.

Two more holes were drilled to duplicate previous holes, and confirmed previous thicknesses and grades.


Mt Fisher Mine

A Resource estimate for the gold mineralisation immediately below the Mt Fisher open pit is currently in progress. Rox is targeting the release of a JORC Resource in the current March quarter.

Recent drilling intersected gold beneath the Mt Fisher open pit, indicating continuity of gold mineralisation for about 60 metres below and south of the pit.

Notable intercepts include 5 metres at 4.34g/t gold from 126 metres and 2 metres at 4.78g/t gold from 158 metres.

The first hole was drilled at a shallower angle than a previous hole, which intersected 2 metres at 5.44g/t gold in July last year.

This mineralisation is also thought to extend at least a further 300-500 metres south of the pit as indicated by a strong VTEM anomaly, most likely reflecting the presence of the sulphidic chert host unit at depth.

The extension is poorly defined at present with one hole returning 5 metres at 1.58g/t gold from 263 metres.


Damsel

Meanwhile, recent drilling at Damsel has defined a gold mineralised zone about 500-600 metres long, 50-100 metres wide and 1-15 metres thick between surface and 100 metres depth.

Best results include 3 metres at 1.83g/t gold from 141 metres, 5 metres at 1.49g/t from 159 metres, and 7 metres at 3.02g/t from 120 metres.

A Resource estimate for this body of gold mineralisation is also currently underway.

Rox has had ongoing success at Mt Fisher, previously reporting gold grades of up to 17g/t.

The historic Mt Fisher gold mine produced 4,500 ounces of gold from historic underground mining and 22,500 ounces of gold from open pit mining. It is still open at depth and down plunge.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/24461/rox-resources-leachwell-gold-assays-9-higher-at-moray-reef--24461.html