West Australian gold exploration and development company, Rox Resources (ASX: RXL) today reported that diamond drilling has commenced at its 100% owned Mt Fisher gold project in WA.
HIGHLIGHTS
- Rox has commenced diamond drilling targeting a strong electromagnetic (EM) conductor down plunge of the highgrade historical Mt Fisher Gold Mine
- Multiple EM conductors over 3km of strike remain untested by drilling
- Rox awarded up to $67,000 co-funded drilling grant by WA Government
- Assays pending for 17 holes from 2,200m of RC drilling at the Mt Fisher Gold Project
The Mt Fisher Gold Project is an early-stage project within the Company’s project pipeline that includes the advanced stage Youanmi Gold Project (3.2 million ounces gold – ASX announcement 20 April, 2022).
The Mt Fisher Gold Project is located in the Northern Goldfields, approximately 500km northeast of Kalgoorlie (about 120km east of Wiluna) within the Mt Fisher greenstone belt. This belt is located 40km east of the prolific Yandal greenstone belt, host of significant gold deposits including Jundee, Bronzewing and Mt McClure.
The co-funded diamond drilling program comprises one deep diamond hole (600m total depth, HQ), designed to test a strong electromagnetic (EM) conductor potentially related to pyrrhotite associated gold mineralisation down plunge of the high-grade historical Mt Fisher Mine.
The Company was successful in its application for a grant of a maximum of $67,000 towards diamond drilling costs at Mt Fisher, under Round 25 of the Western Australian Government Exploration Incentive Scheme (“EIS”). The EIS grant will contribute towards 50% of direct drilling cost.
Rox’s tenure covers a large area over the Mt Fisher greenstone belt (850km² in total, comprising: Rox 100% 500km², and Cullen Resources JV 350km²) (Figure 1). Under the Cullen JV Rox is earning up to 75%, with Cullen Resources Limited holding the remaining 25%.
