WITH a mineral inventory increase of more than 100 per cent and the identification of three new drilling targets, Rox Resources has demonstrated the continued prospectivity of the Fisher East nickel sulphide belt.
The company announced a maiden resource estimate for the Musket deposit, within its Mt Fisher project in the North Eastern Goldfields, of 2.1 million tonnes
grading 1.8 per cent nickel for 37,500t of contained nickel. Using a 1 per cent cut-off grade, about 64 per cent of this resource is within the higher confidence indicated category.
Together with the existing resources from the Camelwood deposit, the project’s resources now stand at 3.6mt grading 2 per cent nickel for 72,100t of contained nickel.
About 52 per cent of this falls within the indicated category. “Musket contains a very high grade core of approximately 100,000 tonnes grading 10.1 per cent nickel which lies close to surface and would be an obvious economic driver for any planned development,” Rox managing director Ian Mulholland said.
“The high percentage of the resource in the indicated category is indicative of the good continuity of the mineralisation. “We previously stated that deposits of the style of Camelwood do not typically occur in isolation, and we proved that by discovering Musket. We have a strong ground position with the potential to discover a lot more nickel and continue to significantly grow the project resource base.
“Our discovery cost so far has been around 4.2 cents per pound of nickel, which is one of the lowest in the world.”-