RXL 3.85% 13.5¢ rox resources limited

@HRute - whoops - you stuck your neck unnecessarily there - and,...

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  1. 251 Posts.
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    @HRute - whoops - you stuck your neck unnecessarily there - and, yep, it happened. Am kinda glad actually as the announced results are very, very nice for aircore drilling - not "aircrew" drilling, BTW – spell checker check??

    Following, I've extracted some parts of the ASX release just made (and underlined some parts, for emphasis):

    "Exceptional Aircore Drilling Results - New Drill Targets Identified

    Key Points
    • Exceptional results from 117 hole, 7322 aircore drilling program ...
    • Results include:
    * 4m @ 6.1 g/t Au from 48m at Dam North
    * 4m @ 3.5 g/t Au from 40m at Dirks
    * 4m @ 2.8 g/t Au from 48m at Damsel
    * 8m @ 2.4 g/t Au from 48m at Damsel
    * 4m @ 1.3 g/t Au from 36m at Shiva
    * 4m @ 1.1g/t Au from 44m at Dam

    • New gold anomaly at Dam North
    • 800m southerly extension to Damsel gold trend …
    • 1km southerly extension to Dirks gold trend
    • Further highly prospective targets identified
    • RC/diamond drilling being planned
    ...
    Given that the aircore drilling program was designed as a geochemistry tool, to expand areas of known anomalism as well as to refine areas where the drill spacing was still wide, the large number of samples grading over 0.5 g/t Au is very encouraging (
    La Tache note: I counted 23 of these – see Table 1)
    ...
    Rox Managing Director, Ian Mulholland said: "These are outstanding results. They have ...
    identified new anomalies at Dam North
    extended known gold trends at Damsel
    and Dirks,
    and confirmed infill at Shiva

    We will now plan our follow-up RC and/or diamond drilling campaign.


    Rox believes the Dam-Damsel-Shiva area has similarities to the 3.6 million-ounce Bronzewing deposits some 75km to the southwest …"
    -----


    With Rox having ~$12.5 million cash in the bank plus $3.75 million coming to them in a few years from Teck, they have a cash backing comfortably over 1c / share. Coupled with their still under-explored nickel acreage at Fisher East and Collurabbie, and the fact that the world is inevitably moving into a period of very strong demand for nickel sulphides for batteries, exciting times lie ahead.
    Last edited by La Tache: 23/01/18
 
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