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Drill rods spinning for Rox at WA gold play

Rox Resources has kicked off a drilling campaign at its Mt Fisher gold project near Wiluna, WA, aimed at extending the defined mineral resources, which total 1.025 million tonnes grading 2.7g/t for just over 89,000 ounces of gold.

The 8,000 metre RC and aircore drilling program will be undertaken at the existing Dirks and Shiva prospects and also assess a new greenfields regional target at Damsel South.

Management says that the objective of the drilling is to identify new zones of bedrock gold mineralisation and help confirm the potential for substantial new shear-hosted gold deposition at mafic-ultramafic contacts in the region.

The program is expected to last into July, with results available shortly after that.

Although Rox’s Mt Fisher project is located in a typical WA Archaean greenstone terrane for gold mineralisation, it is relatively underexplored owing to deep weathering that obscures the basement rocks and renders traditional surface geochemical sampling techniques ineffective.

The company believes that a 10km blanket of elevated gold grades that straddles the main prospect area from Dam North to Shiva, is suggestive of dispersion from a basement source, with underlying geological structures potentially hosting the higher-grade primary gold mineralisation.

All will be revealed at Mt Fisher over the next few months as Rox rolls out the “truth diviner” and starts punching drill holes into the prospective ground.

Watch this space for developments.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Top 10 Shareholders

Substantial shareholders as published in the annual report.
Source: Morningstar

Total Shareholder Return as at 31/10/19

1 year TSR5 year TSR
63rdRox Resources120%-10%
496thNex Metals Exploration-16%22%
620thAurora Minerals-38%-16%
721stMEC Resources-53%-28%
730 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

26/07/19
$60k Bought
27/06/19
$42k Bought
15/05/19
$100k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

167th↓Aurora Minerals$355k
168th↓Rox Resources$349k
170th↓Nex Metals Exploration$343k
171st↑MEC Resources$339k
485 listed resources companies ranked by revenue.
Source: Morningstar

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