Gold and base metals explorer Rox Resources is set to unveil a...

Gold and base metals explorer Rox Resources is set to unveil a large zinc resource at its Teena zinc prospect, which forms part of the company's Reward project in the Northern Territory.

Street Talk understands the JORC-compliant inferred mineral resource will be the largest zinc resource to be announced in Australia in the last 20 years, and in terms of contained metal, and will exceed the scope of both MMG's Dugald River mine and South32's Cannington mine.

Teena is located eight kilometres due west of Glencore's large McArthur River zinc mine.

The Reward project is subject to a joint venture agreement with Teck, one Canada's largest miners. Teck, which currently has a 51 per cent interest in the project, has elected to exercise the option to increase its interest to 70 per cent by spending up to $15 million in total by the end of August 2018.
As at March 30, Teck had spent approximately $13.8 million.

Rising zinc prices, up about 18 per cent year-to-date, and improving sentiment around zinc could help generate investor and commercial interest in the project.