New Focus On Large Gold Opportunity
West Australian focused gold exploration and development company, Rox Resources Limited (ASX: RXL) is set to have a renewed focus on the Mt Fisher-Mt Eureka Project in the Northern Goldfields following the completion of a new review.
The Project is located about 500km northeast of Kalgoorlie and about 120km east of Wiluna, within the underexplored Mt Eureka 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.
Rox holds 850 sq. km of the Mt Eureka greenstone belt and surrounding prospective zones and via the Cullen Resources JV, 350 sq. km (Rox currently earning up to 75%, Cullen Resources Limited 25%).
Following the demerger of the Fisher East Nickel Project, Rox has renewed its focus on gold exploration in the belt.
The company has undertaken an extensive project scale review and has planned immediate work to advance the project.
A 7,000m aircore drilling programme is currently underway targeting orogenic gold mineralisation and VMS style mineralisation over recently defined key target areas on Rox 100% own tenements.
The highly prospective Mt Eureka greenstone terrane hosts extensive orogenic gold mineralisation. Several areas have been identified as drill ready targets.
More recently the belt has been recognised as showing potential for VMS Cu-Zn style deposits. Target areas were identified from existing historic geochemical and geophysical datasets.
Furthermore, the review recognised the potential for VMS mineralisation Mt Eureka greenstone belt including Cu, Zn & Au anomalous VMS style exhalative sulphide mineralisation in historical drilling.
Additionally, zones of strong multielement geochemical anomalism in regolith (including Au, Cu, Pb and Zn) were identified in several areas throughout the project. The direct evidence for VMS style mineralisation highlights the belt’s prospectivity for this style of mineralisation.
Due to minimal previous VMS exploration across the belt, the entire Mt Eureka greenstone belt is considered prospective for VMS mineralisation. VMS targets are analogous to Teutonic Bore, Jaguar and Bentley, which lie within the same geological terrane.
Outlook and planned work programmes
Rox believes that the Mt Fisher – Mt Eureka Project has the potential to host significant sized gold deposits and economic VMS mineralisation. Immediate exploration work to be undertaken includes:
• Project wide high resolution aeromagnetic surveying;
• Reconnaissance aircore drilling over recently defined key target areas; and
• 4,000m RC programme to follow up high-grade intersections.
Reconnaissance aircore drilling (160 aircore holes for 7,000 metres) is currently underway to test the intersection of a regional scale NE trending growth fault with favourable NNW trending stratigraphy. The fault is believed to be a possible feeder conduit, syngenetic with Au and VMS style mineralisation at the Mt Fisher Mine and Dam/Damsel/Dirks gold trend.
For further information please visit: https://www.roxresources.com.au/