Rox Resources (ASX:RXL) is progressing opportunities to advance and monetise its Mt Fisher and Mt Eureka Gold projects in Western Australia, upon identifying multiple walk-up drill targets.
The $66.48 million market capitalisation company recently completed 6 geophysical Gradient Array Induced Polarisation (GAIP) surveys at both projects, which identified the targets that lie along strike from known gold mineralised trends and are characterised by high-sulphide content.
Managing Director Robert Ryan says the surveys conducted at both projects have highlighted numerous walk-up drill targets.
“The surveys have detected potential sulphide-bearing structures, which could host gold mineralisation as seen elsewhere in the tenement package.
The 1,150km-square tenement package represents a district-scale exploration opportunity for both gold and nickel sulphides, that Rox will continue to advance.”
Each of the GAIP surveys were designed to advance the project exploration pipeline by defining potential sulphide-rich chargeability anomalies that represent drill-ready targets along the known gold mineralised trends.
The company notes the GAIP surveys are able to cost effectively cover ‘large’ strike lengths of mineralised trends to uncover drill-ready targets for potential gold mineralisation associated with rich zones of disseminated sulphides.
The company wholly owns the Mt Fisher project and owns 51% of the gold rights at the Mt Eureka project. Both projects lie in the Northern Goldfields, 500km north of Kalgoorlie in Western Australia.
Rox Resources is an Australian mineral explorer focused on its flagship Youanmi Gold Project in Western Australia.
As of 31 December 2023, the company had $4.3 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Rox Resources
