High Grade Cobalt Project, Drill Result upto 0.45%

New thread to discuss this Note how Heron Resources is mentioned in this ann. is that our project aswell. Off to see what else I can find.

http://roxresources.com.au/wp-content/uploads/2012/03/RRL0172D-IM.pdf
ASX RELEASE
5 October 2004
Rox Makes New Nickel Discovery
The Directors of Rox Resources Limited (ASX: RXL, “Rox”) announced today that a newzone of nickel mineralisation, known as Acacia Ridge, has been discovered on Rox’s tenements at Menzies, 130km north of Kalgoorlie.
Recent RC drilling by Rox targeted gold and nickel mineralisation and excellent results have been returned from the nickel drilling, with gold assays still pending. The best nickel results
were:
14 metres at 0.91% Ni, 0.17% Co or 1.59% NiEq, including
2 metres at 1.39% Ni, 0.30% Co or 2.59% NiEq
15 metres at 0.76% Ni, 0.17% Co or 1.44% NiEq, including
2 metres at 1.06% Ni, 0.45% Co or 2.86% NiEq
(NiEq = Ni + 4 x Co, based on current metal prices)
The drilling represents one drill traverse across the nickel laterite zone west of the Yunndaga Gold Mine with vertical holes drilled at 100 metre spacings as shown on the map. Full results
are shown in the Appendix.
Drilling intersected both saprolitic material with very high cobalt values, and low magnesium siliceous material, similar to the Highway deposit to the south where Heron Resources Limited recently announced a resource of 85 million tonnes grading 0.72% Ni, 0.051% Co.
Heron expect siliceous ore to upgrade to 1.5% Ni.
The high cobalt values in both intercepts, producing very high nickel equivalent (NiEq) grades, and the styles of mineralisation are particularly attractive for future processing.
Rox is encouraged with the results from this first pass reconnaissance drilling, which lies immediately north of Heron’s Highway deposit (see map). Acacia Ridge has not been previously drilled for nickel laterite mineralisation but it is believed Acacia Ridge may be the
northern continuation of the Highway deposit, with similar results therefore expected.
Lateritised ultramafic rocks have been identified extending 3km south from the drill traverse over the entire length of Rox’s tenement.
Rox’s staff have extensive experience in nickel laterites, with the Managing Director and
Senior Project Geologist having been key members of the Anaconda Nickel exploration team
that explored and evaluated numerous nickel laterite deposits in Australia and overseas from
1996 to 2001.
ROX RESOURCES LIMITED – ASX RELEASE
30 September 2004
RRL0172D-IM 2
Heron has commenced a Pre-feasibility Study on the establishment of a 50,000tpa Ni and
3,000tpa Co project nearby. Rox’s Acacia Ridge nickel mineralisation is ideally located for
exploitation being just 40km north, along bitumen road, from Heron’s proposed processing
plant location at Goongarrie.
ABOUT ROX
Rox was listed on the ASX on 27 April 2004, after raising $4.5 million in its IPO. Rox is a
Perth-based gold exploration company focussed on the historic Menzies Goldfield 130 km
north of Kalgoorlie in Western Australia. Menzies is a million ounce goldfield with past
production from underground mining of more than 650,000 ounces of gold at a grade of 22.5
g/t Au and recent production from open pit mining of over 140,000 ounces at 2.6 g/t Au.
Current resources total 170,900 ounces grading 2.5 g/t Au.
- END -
FOR FURTHER INFORMATION CONTACT:
Ian Mulholland, Managing Director Kevin Kartun, The Capital Group
Tel: (08) 9486 4537 Tel: 0413 806 353
The information on mineralisation contained in this statement accurately reflects information compiled by Mr Ian Mulholland
B.Sc (Hons), M.Sc., F.Aus.I.M.M., F.A.I.G., who is a Competent Person (as defined by the Australasian Code for Reporting of
Identified Mineral Resources and Ore Reserves) with relevant experience in relation to such mineralisation. Mr Mulholland has
given permission for the information to be included in this statement, and is a full time employee of the Company.
APPENDIX
Hole ID GDA Coordinates Total Intercept (0.5% Ni lower cut-off)
North East Depth
(m)
From
(m)
To (m) Length
(m)
Ni (%) Co (%) Mg (%) NiEq
(%) *
YNRC0001 6708300 309550 40 15 30 15 0.76 0.17 8.85 1.44
Incl. 18 20 2 1.06 0.45 8.86 2.86
28 30 2 0.93 0.24 10.3 1.89
YNRC0002 6708300 309650 52 21 22 1 1.03 0.031 0.30 1.15
YNRC0003 6708300 309750 46 13 27 14+ 0.91 0.17 2.47 1.59
Incl. 17 19 2 1.39 0.30 0.89 2.59
23 25 2+ 1.45 0.21 3.63 2.29
YNRC0004 6708300 309850 40 6 11 5 0.64 0.074 5.97 0.94
YNRC0005 6708300 309950 22 4 11 7 0.79 0.081 6.78 1.11
* NiEq = Ni + 4 x Co (based on current Ni and Co prices)
+ Poor sample recovery 22-25m
All holes drilled vertical, face-sampling RC hammer, sampled at 1 metre down-hole intervals. Assays by XRF (glass fusion).
ROX RESOURCES LIMITED – ASX RELEASE
30 September 2004
RRL0172D-IM 3