Rox buys Collurabbie
PERTH (miningweekly.com) – Junior Rox Resources will pay A$25 000 and issue 7.4-million of its shares to fellow listed Falcon Minerals, to gain hold of the Collurabbie nickel project, some 70 km east of the company’s Fisher East nickel sulphide and Mt Fisher gold projects.
The Collurabbie project consists of two exploration licences covering 63.1 km2 and has been the subject of more than a decade’s worth of exploration.
“The nickel sulphide discovery at Collurabbie was the talk of the town a few years ago, but lack of exploration during and since the global financial crisis means the opportunity to define more extensive mineralisation there is still extremely attractive,” said Rox MD Ian Mulholland.
“The project fits nicely with our Fisher East nickel sulphide project, and being within 70 km means that any mineral resource we define at Collurabbie can be easily trucked to Fisher East for processing should that development occur.”
The sale was subject to a number of conditions, including shareholder and regulatory approval, and royalty assignments.
Mulholland has meanwhile told delegates at the Paydirt Nickel Conference, in Perth, that it could be mining first ore at the Fisher East project within nine months of taking a decision to mine.
The project hosts an initial resource of 4.2-million tonnes, grading 1.9% nickel for 78 000 t of contained nickel. Aircore drilling of other nearby targets has identified fresh nickel sulphides with the potential to double the project’s total resource base.
“Fisher East has strong exploration potential over something like a 25 kilometre strike length and has already yielded four new deposit discoveries – Camelwood, Cannonball, Musket and Sabre,” Mulholland said.
“Significantly, these orebodies are open at depth and along strike, with our scoping study already providing scope for two development options – toll milling by trucking ore to a nearby mill, or building our own 600 000 t/y style processing plant and trucking the concentrate to market.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation