EXPLORATION & DEVELOPMENT

Grace's gold looks to be getting bigger for Rox

High-grade hit recorded 100m from promising prospect

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The hit was made 100m south of the previous known extent of Grace, with further results pending.

The targeting for Rox's drilling is based on a re-interpretation of the structural controls on mineralisation following work campaigns undertaken in 2020. 

RC drilling is continuing.

A new resource estimate is due this year, with feasibility work also planned.

Additionally, diamond core drilling is planned after problems with a previous contractor last year.  

Funding for the work was confirmed earlier this month when gold growth company backer Hawke's Point bought an 13% stake in Rox for A$11 million.

That investment took Rox's treasury (including receivables) to circa-$20 million.

Shares in Rox were up 10% to 4.4c in afternoon trade, capitalising the company at $90 million.

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