Rox Resources Acquires Mineral Tenements at Fisher East Nickel Project

Rox Resources Ltd. (ASX:RXL) announced that it’s exercised its option to acquire 100 percent of the mineral tenements holding the Camelwood, Musket and Cannonball nickel sulfide mineral resources. They are located at the company’s Fisher East nickel project in Western Australia.
As quoted in the press release:

The Mineral Resource at Fisher East currently sits at 3.6 Mt @ 2.0% Ni for 72,100 tonnes (159 million pounds) of contained nickel (ASX:RXL 4 September 2014) with an update expected this quarter.
This acquisition brings the total area 100% owned by Rox at Mt Fisher to 600km2.
The Company’s Scoping Study, completed earlier this year (ASX:RXL 17 February 2015), showed that the project was technically low-risk and had a cost base similar to other nickel sulphide projects currently operating in Western Australia. A Pre-Feasibility Study involving new resource modelling, geotechnical assessment, mine planning and scheduling, metallurgical testwork and environmental studies is now underway.

Ian Mulholland, managing director of Rox Resources, commented:

The acquisition of these tenements gives Rox 100% ownership of all of the nickel resources identified in the area to date for less than 1.5 cents per pound of nickel. That, together with our discovery cost to date of less than 5 cents per pound of nickel highlights the attractiveness of the project and why we continue to focus on the area.
This acquisition is an important milestone for the Company. Having recently moved to pre-feasibility at the Fisher East Nickel Sulphide project it was imperative that we secured absolute ownership of the tenements. Not only have we acquired the nickel resources for a very attractive price and increased the area we control to 600km2 but we also have an option to acquire an additional 75km2 of very prospective acreage that has a further 15km of strike of the nickel rich ultramafic belt and which contains the recently discovered Sabre and Tomahawk mineralisation.

Click here to read the full Rox Resources Ltd. (ASX:RXL) press release.