The aim of this campaign is to lightly drill multiple promising targets described in the announcement and then drill out the best of these. Several of the targets including Currans and Linda Gossan have already had exceptional drill results.Being lightly drilled, probably a single RC hole or two, we will be given potential rather than a significant new discovery. It’s unrealistic to think that the share price is going to explode although it’s possible eg the first hit at Paddy’s Lode saw the SP at 46 cps. But most likely it will be the follow up drilling that confirms a significant new discovery that could really boost the SP.
Best possibility is Currans, and the wider prospect including Taylor’s Reef interpreted as a continuation of high‐ grade gold lodes at Currans North, offset by a north‐northeast trending fault. Rock types here are also host to the nearby Penny West and Penny Gold (RMS) deposits. The historical drilling from 2018/19 at Currans was restricted to the upper lode and Rox would now have RC drilled the bedrock for high‐grade gold zones at deeper levels.
Comparing with its neighbour Penny Gold (about 300K oz Au and one of Australians highest grade deposits) the Currans grades to date are as good but the intersections are shorter.
Spectrum (previous owner of Penny) kept finding high grade gold at depth eg 6m at 10 grams per tonne (g/t) gold, 348m from surface and the hope is that the high-grade shoot within the Currans lode remains open down dip, We will soon find out.
https://www.investi.com.au/api/announcements/rxl/d749cea8-39c.pdf
(20min delay)