Rox Resources Ltd · ASX:RXL
Rox Resources — Shareholder Meeting (November 2014)
27 slides from Rox Resources's shareholder meeting presentation, Nov 20, 2014
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 20 November 2014 ASX: RXL 1
Slide 2: Disclaimers
Disclaimers For personal use only Forward-Looking Statements Competent Person Statements This presentation has been prepared by Rox Resources Limited. This document contains background information The information in this report that relates to Exploration Results for the Mt Fisher, Reward and Bonya
Slide 3: Who Is Rox?
Who Is Rox? For personal use only Mineral explorer with strong leverage to base metal prices: Nickel, Zinc, Copper Fisher East Nickel: Short term pathway to nickel sulphide production Bonya Copper: Exciting new copper discovery Reward Zinc: Drilling out a very large new zinc discovery 3
Slide 4: Achieved in Last Years
Achieved in Last 2 Years For personal use only • Discovered 72,000 tonnes of contained nickel1 at Fisher East with upside to at least double this resource. • Discovered massive copper sulphide mineralisation2 at Bonya - early stages - lots of targets. • Through a JV with Teck (Rox 49%), discovered a
Slide 5: Company Snapshot
Company Snapshot For personal use only Rox Capital Structure (30 Sept 2014) Camelwood Teena Zn Musket Ni Ni Discovery Discovery Discovery ASX Code: RXL Issued Shares: 849.7m Options: 29.2m (21.7m at 8.0c) Market Cap: $28.0m (at 3.3c) Cash: $5.0m (30 Sept) Experienced Board & Management Ian Mulhollan
Slide 6: Mt Fisher Location
Mt Fisher Location For personal use only Mt Fisher Greenstone Belt located 150km north-east of Leinster (BHP Nickel West) New province for nickel sulphide deposits – discovered by Rox Two deposits drilled so far: Camelwood & Musket – still open – potential to expand resources Exploration potential w
Slide 7: Two Nickel Discoveries
Two Nickel Discoveries For personal use only VTEM anomalies followed up with aircore/RAB Camelwood discovered in December 2012 Musket discovered in December 2013 RC and diamond drilling to define resources Two ore types, massive and disseminated 7
Slide 8: Nickel Sulphide Resources
Nickel Sulphide Resources For personal use only Combined Mineral Resource* Fisher East Nickel Resources (Camelwood & Musket) of 3.6Mt @ 8,000,000 8.00 2.0% Ni at 1% Ni cut-off 7,000,000 7.00 6,000,000 6.00 Indicated 1.8Mt @ 2.1% Ni (52% of 5,000,000 5.00 Ni Grade % Tonnes metal) 4,000,000 4.00 3,000
Slide 9: New Nickel Sulphide Camp
New Nickel Sulphide Camp For personal use only Nickel sulphide deposits occur over 3km strike length of ultramafic Camelwood Mineral Resource: Indicated 0.6 Mt @ 2.4% Ni, Inferred 1.0 Mt @ 2.1% Ni, Total 1.6 Mt @ Open at depth and along strike, untested downhole EM conductors 2.2% Ni Musket Mineral
Slide 10: Resource Potential
Resource Potential For personal use only 100,000t @ 10% Ni New drilling defining extensions at Cannonball Additions to mineral resource inventory 10
Slide 11: Exploration Potential
Exploration Potential For personal use only New EM and geochemical targets still being generated Strong aircore results at Cutlass – similar to original results from Camelwood and Musket etc. Kambalda-style deposits lend themselves to ongoing discoveries over a long period of time 11
Slide 12: Development Possibilities
Development Possibilities For personal use only Two options: o Toll milling – truck ore to nearby plant (e.g. Nickel West) o Build a plant – truck concentrate for sale Box cut with decline to underground mine – 100m depth to sulphides Metallurgical recoveries, 80 – 99%, and saleable concentrate grad
Slide 13: Bonya Copper Project
Bonya Copper Project For personal use only Bonya Jervois 13
Slide 14: Bonya Regional Geology
Bonya Regional Geology For personal use only Rox earning 51% for $500K (Dec 2014) and 70% for extra $1 million (Dec 2016) Same host rocks as Jervois copper deposits (KGL) Outcrops of copper oxide mineralisation up to 33% Cu and 55 g/tAg EM and geochemical surveys have defined several targets 14
Slide 15: Bonya Mine Drilling
Bonya Mine Drilling For personal use only Massive copper sulphides intersected at Bonya Mine prospect, e.g. 38m @ 4.4% Cu, with high grades up to 17% Cu Copper sulphides also at EM targets 03 and 04 15
Slide 16: Bonya Mine Drilling
Bonya Mine Drilling For personal use only Massive copper sulphide intercepts 11m @ 4.4% Cu, incl. 3m @ 6.1% Cu 38m @ 4.4% Cu, incl. 6m @ 8.8% Cu and 8m @ 7.9% Cu 9m @ 3.8% Cu, incl. 3m @ 8.2% Cu Still open at depth and along strike More drilling 16
Slide 17: Exploration Targets
Exploration Targets For personal use only Several copper oxide outcrops to investigate Exploration next year to look at drilling a number of these, plus more drilling at Bonya Mine 17
Slide 18: Reward Zinc Project
Reward Zinc Project For personal use only 18
Slide 19: Tenements
Tenements For personal use only Next to McArthur River zinc deposit JV between Rox (49%) and Teck (51%) Teck can earn-in to 70% by funding $15m total by August 2018 Existing infrastructure includes bitumen road, gas pipeline, major airport, ship loader and port Teena discovery in 2013 (8km west of M
Slide 20: Teena Deposit
Teena Deposit For personal use only Thick intercepts of 10-15% Zn+Pb; Large mineralised system; >1.5km strike x 1km wide; plunging to east Drilling still very wide spaced (250 – 500m) 2014 drilling program underway – first two holes have indicated extensions to system More drilling results to come 2
Slide 21: Teena Cross Section
Teena Cross Section For personal use only Stratigraphic sequence similar to McArthur River Well developed stratiform zinc- lead mineralisation Two lenses of high grade zinc- lead mineralization within a larger envelope of lower grade sulphide mineralization Zn:Pb ratio = 6.5:1 Bound to north by a ma
Slide 22: High Grade Massive Sulphide
High Grade Massive Sulphide For personal use only 19.4% Zn, 2.9% Pb 21.3% Zn, 3.4% Pb 22.1% Zn, 3.8% Pb 22.0% Zn, 4.0% Pb 24.2% Zn, 4.1% Pb 22
Slide 23: Global Zinc Resources
Global Zinc Resources For personal use only Only 10 Sedex deposits worldwide (out of 136) are “world class”, >12 Mt contained Zn+Pb and > 8% Zn+Pb Six (6) of these are in Australia Teena resource potential is within “giant-super giant” range 23
Slide 24: Zinc Price To Rise
Zinc Price To Rise For personal use only Consumption is predicted to continue to exceed Production Deficit of between 2.5% and 5% each year Upward pressure on price – prediction for 2014 is US$2,165/t, then rising to US$3,800/t by 2016. Based on data published by Wood Mackenzie 24
Slide 25: Relative Performance
Relative Performance For personal use only Rox vs Small Resources Index 2014 Rox Expenditure by Year 225 5.0 200 4.5 175 4.0 150 3.5 3.0 125 Millions 2.5 100 2.0 75 1.5 50 Rox Small Resources (XSR) 1.0 25 0.5 0 0.0 1-Apr-14 1-Jan-14 1-Mar-14 1-Jun-14 1-Aug-14 1-Oct-14 1-Feb-14 1-Jul-14 1-Sep-14 1-Ma
Slide 26: Summary
Summary For personal use only • Fisher East nickel project – development options, further drilling & discoveries, resource updates • Bonya – new copper discovery – more drilling results to come • Teena drilling underway to define ultimate resource size - Teck still to spend ~$5 million – further ass
Slide 27: Thank You
For personal use only Thank You Rox Resources Limited Rox Resources Limited Level 1, 30 Richardson Street, West Perth, WA, 6005 AUSTRALIA T: (08) 9226 0044 F: (08) 9322 6254 E: admin@roxresources.com.au W: www.roxresources.com.au 27