Rox raises $2.4m for exploration programs

Minerals explorer Rox Resources has raised $2.4 million for exploration programs and working capital in a share purchase plan, the company announced today.

The funds will be made available for Rox’s programs in the Northern Territory and Western Australia, notably for the WA Camelwood nickel sulphide site, of which Rox recently announced the discovery of larger mineral deposits 500 metres south of Camelwood.

Rox has also commenced RC drilling at Fisher East near Wiluna.

“It is a very pleasing result to receive such strong support from our shareholders,” managing director Ian Mulholland said.

“The 93 per cent take-up of the SPP is exceptional and we look forward to further rewarding the support of shareholders by continuing active exploration on our high quality projects.

“At the Camelwood nickel sulphide discovery in Western Australia we have completed over 20,000 metres of drilling and defined a maiden mineral resource, all within 10 months.”

In August, drilling results from Rox’s Reward zinc project in the NT were significant and sent the company’s shares skyrocketing by more than 113 per cent.

Shares in Rox are trading at 33 cents, as of 1pm, WST.