new broker report out, page-3

Rox Resources Limited (RXL) - SPEC BUY

Nickel Sulphide Discovery Sets Rox Alight

Rox Resources Limited (RXL) could well have hit the jackpot having received encouraging preliminary results from first pass reconnaissance reverse circulation (RC) drilling at its Mt Fisher Project targeting nickel sulphide mineralisation. This success comes after extensive target generation work that included structural analysis, geophysical techniques including Versatile Time Domain Electro-Magnetic (VTEM) and ground electro-magnetic (EM) surveys, and rotary air blast (RAB) and aircore (AC) drilling. We expect that laboratory assay results due in mid-late January 2013 will confirm the highly promising preliminary indications and as such we rate RXL a Speculative Buy

The RXL share price has increased fourfold since it announced that RC drilling had discovered disseminated and semi-massive nickel sulphide mineralisation at its Mt Fisher project in WA.
Assay results are pending but preliminary scans with a portable XRF analyser indicate approximate nickel grades of 1% to 2% in 4 of the 5 holes drilled, with the other indicating 4% to 5% nickel. Intersection widths are between 1m and 7m and lie between 130m and 213m below surface and have occurred over a 300m strike length along an identified electro-magnetic (EM) conductor.
We await confirmation of these results after laboratory assay analysis but we are sufficiently confident to class the potential nickel discovery as highly encouraging and meritorious. This is based on visual inspection of the RC chips and discussions with RXL management and the senior geologist.




--- thats the extract. need to be a member of patersons for the full report

https://secure.psl.com.au/publication/your-market-daily/your-market-daily-9-january-2013#RXL