Rox Resources
Rox Resources (ASX: RXL) is an exploration company with three key projects; the Mt Fisher Gold Project in Western Australia, the Myrtle Zinc-Lead Project in the Northern Territory; and the Marqua Phosphate Project in the Northern Territory.
Rox has a joint venture agreement with Teck Australia, the Australian subsidiary of Canadian mining giant Teck Resources (NYSE: TCK), to progress its Myrtle project.
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Rox Resources intersects high grade phosphate in Northern Australia
Rox Resources (ASX: RXL) is well on its way to expanding the potential size of the phosphate prospective area at its Marqua project in the Northern Territory.
Recent drilling intersected high grades above 30% phosphate at the Coquina Creek prospect and mineralisation at Marqua is shown to extend over a 30km strike length.
Rox Resources
just keeps the good news flowing with high grade phosphate
intersections including 3 metres at 29.8% phosphate from 45 metres at
its Marqua project, 300 kilometres southwest of Mount Isa in the
Northern Territory.
Other highlights from the 29 hole, 1,900
metre reverse circulation drilling program include 4 metres at 28.6%
phosphate from 13 metres, 3 metres at 22.6% from 25 metres and 1 metre
at 21.8% from 15 metres.
Managing director Ian Mulholland said
the potential exists for a substantial phosphate Resource to be defined
at Marqua with further drilling, especially down dip to the north from
known areas of high grade phosphate mineralisation.
“Currently a
phosphate bearing horizon extending over 30 kilometres in strike length
and dipping to the north has been drill tested at nominally 1 kilometre
spacing, with closer spaced drilling in areas of outcrop, or higher
grades,” he said.
“This extensive mineralised system has not been
tested at depth, with the deepest drill only reaching 100 metres in
depth, and most testing to only 50 metres.”
Three of the drill holes confirm the previous high grades intersected at the Coquina Creek prospect.
Grades
above 30% phosphate were recovered from within two holes with
intersections including 1 metre at 33.6% from 14 metres and 2 metres at
34.2% from 46 metres.
This zone of mineralisation occurs over a strike length of about 2 kilometres and appears to dip to the north.
The prospect has only been drilled at wide spacing (200 metre sections) and down dip to a maximum depth of about 50 metres.
The
2 kilometre strike length indicates that a substantial deposit could
exist, but confirmation of this will require further drilling.
A
new high grade zone at the Mauritania prospect has also been discovered
with one hole intersecting 4 metres at 15.7% phosphate from 14 metres,
including 1 metre at 21.8% from 15 metres.
One drill hole at the Library Ridge prospect also confirmed the continuation of mineralisation in that location.
Other
known high grade mineralised areas also occur at Foss Hill, Red Heart
and White Hill. Drilling was undertaken to test the extent of these
mineralised zones over wider areas and was successful.
Marqua Potential
The Marqua phosphate project is located in the Georgina Basin which contains 90% of Australia’s hard rock phosphate resources.
A
25 kilometre long strike length of phosphate bearing rocks has been
identified by surface sampling, which showed up to 39.4% phosphorous
oxide, and drilling, which returned intersections of 6 metres at 19.9%
phosphorous oxide and 5 metres at 23.7%.
Importantly, there is
the potential to establish a large resource in a new phosphate area.
Marqua has an exploration target of 50 to 100 million tonnes at 15 to
20% phosphorous oxide.
The only operating mine near to the
region at present is at Phosphate Hill in Queensland, which is producing
2 million tonnes per annum.
Other developing phosphate projects
in the basin are the 461 million tonne at 18.8% Wonarah and 305 million
tonne at 15% D-Tree (Lady Annie).
Marqua, which covers about
2,600 square kilometres, is strategically located only 250 kilometres
from the nearest railhead and gas pipeline at Phosphate Hill.
Improved Assays at Mt Fisher
The news of the
high grade intersections follows close on the heels of a 9% improvement
in gold assay values on selected samples from the Moray Reef gold
deposit at the Mt Fisher project in Western Australia.
The
improved assays were the result of using a cyanide bottle roll leach
method (Leachwell), compared to traditional fire assays, on selected
samples from Moray Reef.
