Fox Resources Ltd has upgraded the nickel and copper resources at the Radio Hill project near Karratha in Western Australia by 307%.
The total mineral resources at Radio Hill have increased from 988,000 to 4.02Mt at 0.51% nickel and 0.89% copper. The upgrade includes a nickel envelope of 1.48mt at 0.76% Ni and 1.05% Cu and a copper envelope of 2.54mt at 0.37% Ni and 0.79% Cu. The increase includes results from the down-plunge drilling completed in the March quarter 2009 and from the re-logging and sampling program on underground core.
Managing director Bruno Seneque said the increase enhanced the value of the project for the company. “Radio Hill, which is capable of rapid development, also provides an additional ore feed to our proposed heap leaching operation – which already has over 300,000 tonnes of stockpiled material to utilise,” Mr Seneque said. “Today’s upgrade supports our objective of defining further base metal resources and represents viable material to incorporate into future heap leach operations.”
STOCK DASHBOARD: September 23, 2009
Cheers!
FXR Price at posting:
20.3¢ Sentiment: LT Buy Disclosure: Held
