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Maiden Inferred Mineral Resource for the Olympia Nickel-Copper-Cobalt-PGE Deposit
Aug. 18, 2017 08:49AM PST
Base Metals Investing Rox Resources (ASX: RXL) (“Rox” or “the Company”) is pleased to announce a maiden Inferred Mineral Resource for the Olympia nickel-copper-cobalt-PGE deposit, part of Rox’s Collurabbie project 250km north of Laverton in Western Australia. The Mineral Resource estimate of 573,000 tonnes grading 1.63% Ni, 1.19% Cu, 0.082% Co and 2.33 g/t Pd+Pt (1.49 g/t Pd …
Rox Resources (ASX: RXL) (“Rox” or “the Company”) is pleased to announce a maiden Inferred Mineral Resource for the Olympia nickel-copper-cobalt-PGE deposit, part of Rox’s Collurabbie project 250km north of Laverton in Western Australia.
The Mineral Resource estimate of 573,000 tonnes grading 1.63% Ni, 1.19% Cu, 0.082% Co and 2.33 g/t Pd+Pt (1.49 g/t Pd and 0.85 g/t Pt) at a 1% Ni cut-off grade was undertaken by Trepanier.
Assuming equivalent recoveries of Ni and Cu into concentrate (as per other Western Australian nickel-copper projects), the nickel equivalent grade (NiEq*) would be 2.36%, based on recent metal prices, giving 13,500t NiEq contained metal.
Rox Managing Director, Ian Mulholland said:
“What a great start to our work at Collurabbie. This maiden Mineral Resource complements the Mineral Resources of 50,000t Ni @ 2.5% Ni that we have established at Fisher East only 70km away.
The deposit contains close to 10,000 tonnes of contained nickel with significant copper, and we also expect that the cobalt, platinum and palladium will add significant value.”
