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Stock Symbol: RXRS
Exchange: NASD Pink Sheets
Shares Outstanding: 18,700,000
52 Week Hi-Lo: $.250 - $0.001
Rox Resources Ltd. is a Canadian mineral exploration company publicly traded on the NASD Pink Sheets, stock symbol RXRS. The company's headquarters are located in Toronto, Ontario with an exploration office in Lynn Lake, Manitoba.
Rox Resources is taking a proactive position in the emerging Lynn Lake exploration camp in N.W. Manitoba. The company is actively engaged in seeking out high potential economic deposits throughout Canada.
The Fox Mine
A study of the Fox mine has been initiated to examine the systematics of rare earth elements and other trace elements in the sulphide ores and hostrocks. Collected samples have been prepared for analysis by several different analytical techniques to determine both wholerock and mineral compositions. Comparison of data from this deposit with other massive sulphide deposits will determine if there is a correlation between deposit size and rare earth element systematics.
Lynn Lake Project
The data contributing to this optimism were largely gathered at a grassroots level with the acknowledgment that there are significant risks associated with mounting a grassroots exploration program as opposed to participation in a more advanced project. Conversely, the historical lack of systematic gold exploration in the Lynn Lake Belt requires initial grassroots programming to properly evaluate the potential of the newly delineated shear zones in the western and eastern Lynn Lake Belt. These areas represent effectively unexplored territory in a region of the province having extensive infrastructure, a trained, experienced workforce and a mining-friendly regulatory environment including government-supported exploration assistance programs. The present level of gold exploration in the belt is very limited and there are large areas of prospective stratigraphy.
Figure 1
Summary of the geology, geochronology and gold mineralization in the Lynn Lake greenstone belt.
Primary gold production in the Lynn Lake greenstone belt has totaled 433,884 oz. from three mines. The MacLellan mine (SherrGold Inc./LynnGold Resources) produced 141,912 oz. (969 680 tonnes grading 5.63g/t) between 1986 and 1989. Keystone Gold (subsidiary of Blackhawk Mining) operated two open-pit mines producing 78,648 oz. (1 162 000 tonnes grading 2.78 g/t) from the Burnt Timber mine between 1995 and 1996 and 213,324 oz. (754 930 tonnes grading 4.82 g/t and 952 211 tonnes grading 3.76 g/t) from the Farley Lake mine between 1996 and 2000. In addition to gold production, the total geological resource totals 995,250 oz. of gold and 712,968 oz. of silver (1,006,015 oz. total gold equivalent) from a variety of deposits associated with the Johnson Shear Zone (JSZ) and the Agassiz Metallotect (AM), two regional-scale deformation zones in the southern and northern Lynn Lake belts, respectively. Most significant is the MacLellan deposit, located 7 km northeast of the town of Lynn Lake. The total geological resource of the series of closely-spaced deposits comprising the MacLellan deposit is 2.6 million tonnes at 6.3 g/t gold (526,600 oz. of gold) and 1 174 000 tonnes at 18.89 g/t silver (712,968 oz. of silver). The deposit remains open along strike and downdip. The MacLellan mine has extensive underground development, including a three-compartment shaft to the 450-metre level and a decline from surface to the 140-metre level. The mine was on care and maintenance from 1989 to 2000 when it was allowed to flood, although the majority of the mine infrastructure remains intact or on site. The 1300 tonnes-per-day CIP mill complex in the town of Lynn Lake remains largely intact.
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