Re-Developing The Exciting Fox Mine, Near Lynn Lake Manitoba
Rox Resources Signs "Letter of Intent" to Acquire Four Properties Near the Thompson Nickel Belt, Manitoba, Canada (March 4)
Fast Facts: Market Cap ~ $995,000
Shares Outstanding ~ 33,150,000
Trading Symbol: RXRS - PK
Rox Resources Ltd., is a Nevada incorporated Company, which is focused on acquiring, exploring and developing copper-zinc-nickel properties in the Lynn Lake Greenstone Belt. Rox Resources currently holds a 100% interest in its flagship property, the historical Fox Mine. The Fox Mine represents a land package of approximately 2,110 hectares and is hosted by a volcanogenic massive sulphide deposit, that is comprised of two discrete lenses- each with its own stockwork zone.
Massive sulphides totaling 11,958,182 tons and grading 1.82% Cu and 1.78% Zn were extracted from The Fox mine between 1970 and 1985 by Sherritt Gordon Mines Limited.
The Company anticipates that its corporate property portfolio will be located entirely within the mining friendly province of Manitoba, Canada. The Company is actively seeking to enhance its corporate portfolio through acquisition.
The Historic Fox Mine
The Fox Lake VMS deposit is situated in northwestern Manitoba, 20 km east of the Manitoba-Saskatchewan boundary and 44 km southwest of the town of Lynn Lake. The deposit consists of two stratiform sulphide lenses (Main and West zones), with a combined strike length of 425m , that are underlain by stock work sulphides with an associated hydrothermal-alteration envelope.
The first area mapping of the Granville Lake area was conducted in 1949, with subsequent mapping indicating the Fox mine to be a VMS deposit consisting of several solid sulphide lenses with both an underlying footwall alteration zone and an overlying layered alteration. The intact nature of the Fox mine stratigraphy makes this deposit an ideal setting for a trace-element study to vector VMS deposits. Furthermore, the mine stratigraphy and lateral extent of alteration surrounding the Fox mine was described by Olsen (1987) , based on underground mapping and examination of surface and underground diamond-drill core.
Although the mineralized zones from surface were closed off at depth, only1 ddh reached a depth of 1465m below surface, and a reasonable ddh density was available only to about 1100m below surface. Little drilling exists at depth outside the strike extent of the orebody.
There were both gold and silver recoveries on the property.
Thompson Nickel Belt Properties
On March 4th, Rox Resources announced it signed a letter of intent to acquire 4 properties, totalling 25 square km, along the Thompson Nickel Belt, near the town of Wabowden, Manitoba. The four prospects are the SAM, TOP, BEST and BIRCH properties. The properties all have historic drill holes, which have significant nickel, as well cobalt and platinum showings.
Not only are are all four properties are easily accessible by both highway and rail, but all have accessible power as well. Most notably, the four properties are situated between Inco's property to the northeast, which is currently a producing nickel mine, and Crowflight Minerals property, (nickel mines development) to the southwest. Crowflight Minerals (nickel mines development), is scheduled to go into production in the summer of 2008.
Historical drilling by Falconbridge Ltd. and Falconbridge Nickel Mines Ltd. In the 1950’s revealed some interesting results. Approximately thirty historical drill holes were analyzed, with borehole DDH 12-03 yielding 1.18% Ni/1.5 ft on the Birch property the most significant of these. The Company believes that the acquisition of the four properties represent above average exploration potential in light of the history with Falconbridge and the extensive amount of data that has been compiled to date.
