Rox Resources finds new high grade gold zones at Mt Fisher project

Rox Resources (ASX: ROX) has unearthed previously unknown high-grade gold zones and confirmed the presence of multiple zones of high-grade gold mineralisation from drilling at its recently acquired highly prospective Mt Fisher project.

A more extensive drilling campaign is to follow at Mt Fisher and defining JORC resources at several prospects by the end of this year.

The latest one metre re-split assays of previous 4 metre composite samples confirm the high-grade prospectivity of the Mt Fisher Gold project and the mineralisation identified from previous sampling.

Highlights include:

- 9 metres at 4.43 grams per tonne (g/t) gold from the Damsel prospect;
- 6 metres at 4.08 g/t gold from the Dam prospect; and
- 1 metres at 8.40 g/t gold from a composite sample.

Mt Fisher is located about 250 kilometres north of Leonora in Western Australia’s Goldfields region.

Ian Mulholland, managing director, said “our first drilling campaign at Mt Fisher has been very successful.

"We have discovered some previously unknown zones of high grade mineralisation which is very exciting and gives us confidence that the mineralisation we’ve previously defined continues at depths with potentially economic grades."

The company has also confirmed the potential for Mt Fisher to host multiple shallow high-grade gold deposits and high-grade gold mineralisation at depth.

Rox Resources now intends to conduct a more extensive drilling campaign to prove up JORC resources at several prospects by the end of this year.

In June Rox received shareholder approval for the purchase of the Mt Fisher gold nickel project from Avoca Resources (ASX: AVO).

The Mt Fisher project hasn’t seen serious exploration for over 10 years and with the gold price currently at nearly US$1900 an ounce, the acquisition could prove to be a smart move.

Rox conducted a 3,000 metre program of reverse circulation (RC) drilling at Mt Fisher during July 2011 and results confirm the potential for multiple near surface high-grade gold deposits as well as the continuation of high-grade gold mineralisation at depth.

Rox has an option to purchase a further area of 170 square kilometres at the project.

Rox has a rig to undertake further drilling at Damsel, Dam and other prospects from mid- October to the end of November, with a 5,000 – 6,000 metre program of RC drilling planned.

This drilling will also follow-up several high priority targets generated from the recent VTEM survey that indicate sulphide bodies in favourable geological locations with the goal of defining JORC resources at a number of these prospects.

Rox's Mt Fisher is shaping up as an exciting gold project based on results to date.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/19673/rox-resources-finds-new-high-grade-gold-zones-at-mt-fisher-project-19673.html