Rox Resources Presentation, Resources Roadshow June 2013


Published on

Presentation from June Resources Roadshow 2013 in Sydney and Melbourne. Presentation given by Managing Director Ian Mulholland

Published in: Economy & Finance
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Rox Resources Presentation, Resources Roadshow June 2013

  1. 1. 11ASX: RXLIan Mulholland, Managing DirectorSymposium Events Resources Roadshow – 18/19 June 2013On The Road to Success
  2. 2. 2Competent Person StatementThe information in this report that relates to Exploration Results and Mineral Resources is based oninformation compiled by Mr Ian Mulholland BSc (Hons), MSc, FAusIMM, FAIG, FSEG, MAICD, who is aFellow of The Australasian Institute of Mining and Metallurgy and a Fellow of the Australian Instituteof Geoscientists. Mr Mulholland has sufficient experience which is relevant to the style ofmineralisation and type of deposit under consideration, and to the activity which he is undertaking toqualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting ofExploration Results, Mineral Resources and Ore Reserves”. Mr Mulholland is a full time employee of theCompany and consents to the inclusion in the report of the matters based on his information in theform and context in which it appears.*Exploration TargetsThe potential quantity and grades of the exploration targets listed in this presentation are conceptualin nature, although they are based on reasonable expectations, but insufficient exploration to define aMineral Resource has been carried out at this point in time, and it is uncertain whether furtherexploration will result in the determination of a Mineral Resource.
  3. 3. 3Company SnapshotRox Resources Capital StructureASX Code: RXLIssued Shares: 590.8mMarket Cap: $21.9m (at 3.7c)Cash: $5.3m (31 March)Enterprise Value: $16.6mManaging Director:Ian Mulholland (Geologist)Chairman:Jeff Gresham (Geologist)Finance Director:Brett Dickson (Accountant)Exploration Manager:Will BelbinExperienced Board & ManagementMajor ShareholdersHSBC Nominees 4.4%Avoca Resources 3.4%Rox Directors 3.1%Top 20 27.9%
  4. 4. 4Investment HighlightsSignificant nickel sulphide discovery at Fisher East$15m Earn-in zinc partnership with TeckExposure to nickel, zinc, lead, copper, gold & silverTremendous exploration upside in all projectsExperienced Board and Management
  5. 5. 5Rox Projects• Mt Fisher Gold, &Fisher East NickelProject acquired fromAvoca in 2011, plusOption to Purchasedeal• Reward Zinc Project,Earn-in by Teck for$15m• Bonya CopperProject earn-in by Roxfor $1.5m• Marqua PhosphateProject pegged in2009
  6. 6. 6Drilling has discovered a significantnew body of nickel sulphides:6.4m @ 3.8% Ni from 282.6m,from 11.4m @ 2.9% Ni6.3m @ 2.5% Ni from 211.7m,from 16.3m @ 1.8% Ni6.2m @ 3.3% Ni from 341.1m2.7m @ 5.2% Ni from 483.0mFisher East Nickel Project
  7. 7. 7Fisher East Nickel LocationNi OccurrencesMt Fisher Project located 150km north-east of Leinster, WA in North EasternGoldfields of WAMt Fisher Greenstone Belt, 300km long,655km2 tenement areaAgnew-Wiluna Belt, major nickel mines(55% of WA Ni total; 7Mt out of 12.7Mt),10 Moz gold,Nickel sulphide discovery at Fisher East –Opens up a major new area for nickelexploration
  8. 8. 8VTEM flownover 3 areas:2 gold beltsand theFisher EastultramaficbeltLarge VTEManomaliesalong FisherEastUltramafic2 stages ofRAB drillingVTEM Targets1st2nd
  9. 9. 9Recognition of nickel gossan in RABdrilling by Rox geologistsRC drilling on 50m and 100mspacing has defined nickel sulphidemineralisation along over 1.2km ofstrikeDiamond holes are hitting massive,semi-massive and disseminatedsulphides down to over 450m deep,with grades such as 3.8% Ni over6.4mMineralisation still open along strikeand also open at depthSouthern Zone defined by new RCdrillingThe Story So Far
  10. 10. 10A Bit of GeologyMassive nickel sulphides coincidentwith EM conductor – occur at “basalcontact”Classic komatiite-hosted (Kambalda-type) nickel sulphide deposit typeVariable grade and thickness is typicalBasal contact is over-turned structural complications likelyLower ultramafic unit hostsdisseminated zone
  11. 11. 1111What’s Coming UpMineralisation is starting to be definedin a number of separate zones (shoots)Intervening holes have hit nickelsulphides, but either thin or low gradeMain Zone is still open at depth in anumber of directionsSo far Rox has drilled 5,200m RC (33holes) and 11,500m DD (32 holes)Drilling on the Main Zone is beingconducted using two strategies: Infill at 50 x 50m Down dip & plunge extensions at 100 x 100mDownhole EM in deeper holesDeeper drilling of new potentialSouthern ZoneMain Zone Northern Zone
  12. 12. 1212Drill DensityDrill Density is fairly low forthis type of depositMainly 100 x 100m withsome infill to 50 x 50mCompare this to Nova,which is now drilled to over25 x 25m densityCamelwood is different toNova – thinner, similarnickel grade but no copper,different types of depositsStill very early days atCamelwood – more thanhalf of the main conductoris yet to be drilledMain Zone Northern Zone
  13. 13. 1313Longer than the length of the Sydney HarbourBridge and roughly 3x the height.Deposit Scale1.2km
  14. 14. 14Exploration PotentialFixed loop ground EM survey along 8kmof Fisher East Ultramafic belt identified aseries of EM conductorsStrong EM anomalies confirmed atCamelwood, Corktree and Silverbark, andalso between Camelwood and Silverbark( over 3-4km)Very sparse drilling to date on other EMtargets - still to follow up8km
  15. 15. 15Gold TargetsVTEM flown over 3 areas:2 Gold belts and the Fisher Eastultramafic beltGold mineralisation at Mt Fisher minehas an associated EM anomaly due tosulphidic host rocksDam-Dirks area, major gold-in-regolithanomalyGold resource of 973,000 t @ 2.75g/tAu* (86,000 ounces) defined at MtFisher, Moray Reef and Damsel* Measured: 171,900 tonnes grading 4.11 g/t Au, Indicated: 204,900 tonnes grading 2.82g/t Au, Inferred: 596,200 tonnes grading 2.34 g/t Au
  16. 16. 16Gold PotentialStrong anomalies > 5 g/tAuThree parallel structuresMultiple “hot spots”Damsel Shallow resource of ~54,000 oz,open at depthDam Central High grill intercepts* including:9m @ 7.1 g/t, 3m @ 17.4 g/t, 4m @9.0 g/t, and 8m @ 4.1 g/tWA DME funding for 2 deep diamondholes* Drawn from the Company’s 120,000m, 3,500 hole database
  17. 17. 17But Wait…There’s More!
  18. 18. 18Reward Zinc ProjectSEDEX style zinc depositsAdjacent to McArthur River MineAirport, gas pipeline, concentrateloader and port infrastructure all inplaceTeck in a $15M Earn-in JV (to 70%)Myrtle Deposit Resource* 43.6 Mt @4.05% Zn, 0.95% Pb, 5.04% Zn+Pb,2.2 Mt zinc + lead metalStrong drilling results from Teenaprospect incl. 11.3m @ 10.9% Zn+Pb* Indicated: 5.8 Mt @ 3.56% Zn, 0.90% Pb; Inferred: 37.8 Mt @4.17% Zn, 0.95% PbMyrtle/Reward
  19. 19. 19Multiple ProspectsSignificant Zn-Pbmineralisation at Myrtle andTeenaRox has drilled ~5,000m atMyrtleDiscovery cost of ~ $1.80/tZn (equiv. to $1.60/oz Au)Teck to spend $5 million toearn 51% and a further $10million for 70%Teena prospect: 5,000m ofdrilling uncovered in 2012 -$2 million worth of drillingfor free!
  20. 20. 20Teena Model4,500m diamonddrilling about to startat Teena – fully fundedby Teck ($2.75mbudget for 2013)Distance between drillholes 1.2km E-W and800m N-SDimensions of TeenaBasin, 1.5 x 1.0 km =Teck size targetFirst results in 3-4weeks!T4A: 22.2m @ 7.18% Zn+Pb, 19g/t Ag,incl. 8.6m @ 9.84% Zn+Pb, 23g/t AgT6: 7.3m @ 7.98% Zn+Pb, 5g/t AgT4: 11.3m @ 10.9% Zn+Pb, 14g/t Ag
  21. 21. 21Bonya Copper ProjectSimilar in style to nearby Jervoisdeposits (13.5 Mt @ 1.3% Cu, 25g/tAg)279km2 tenement packageOutcrops of visible coppermineralisation at numerous locations,with assays up to 33% Cu and 55 g/tAgWalk up drill target at old Bonya mineVery little prior exploration for copperFarm-in deal, Rox can earn 51% for$500K (2 years) and 70% for extra $1million (further 2 years)Geophysical (VTEM) survey in secondhalf of 2013Drill targets generated
  22. 22. 22The Road AheadDiamond drilling ongoing at Fisher East Nickelproject –diamond drilling currently underway –results ongoingDrilling at Teena Zinc (4,500m) about to start –first results in 3-4 weeksBonya Copper VTEM survey and maybe drillingin second half of 2013
  23. 23. 23Contact Rox ResourcesLevel 1, 30 Richardson Street,West Perth, WA, 6005T: (08) 9226 0044F: (08) 9322 6254E: