General Search - Enter what you're looking for...
FOX RESOURCES LIMITED - ASX: FXR
The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.
Description
Fox Resources is a diversified base metals explorer and producer with nickel, copper and zinc projects in the Pilbara of Western Australia, committed to growth through production expansion, diversification and exploration success. Fox Resources Limited (ASX: FXR) is a nickel and copper focused metals explorer and devloper with a substantial project portfolio in the Pilbara region of Western Australia (WA).
The Company has significant in-ground resource base of quality metal projects in addition to a prospective iron ore magnetite joint venture and exciting gold prospects, all near established mining and logistics infrastructure. Fox Resources is planning for a return to nickel copper production.
Mt Oscar
On 25 August 2010, the Company announced that a proposal for the establishment of a JV in relation to the Mt Oscar Magnetite Project (Mt Oscar) was accepted by Breeton Pty Ltd. Under the terms of the proposal, Magnetic South Pty Ltd (a company associated with Breeton) will earn a 60% interest in Mt Oscar by making an upfront payment of $3 million and providing $20 million on an earn-in basis through sole funding the ongoing development work of the project over the next five years. The proposal is condtional upon finalising a formal farm-in and JV agreement, which is currently in progress. The transaction provides capital to execute a more agressive development drilling program at Mt Oscar in addition to the JV partner's development experience and valuable connections to the steel industry in China. Fox is working closely with Magnetic South as the development plan is set in action.
Radio Hill
The Radio Hill project is located 35km south of Karratha. Radio Hill produced nickel and copper concentrate for more than four years, before being placed on care and maintenance in 2008 following adverse movements in nickel prices. Fox Resources is currently working on extending the mine life for the proposed Heap Leach operation, based on a growing resource inventory of a substantial 10 million tonnes. The project offers the advantages of established infrastructure, including a 425,000 tonne per annum nickel processing plant, a fully developed underground mine at Radio Hill and concentrate storage facilities at the Port of Dampier. The development program includes a major base metals exploration campaign to expand resources in conjunction with renowned geological service firm Newexco.
Mt Sholl Nickel Sulphide Deposits
The Radio Hill and Mt Sholl layered intrusions have very similar mineralisation features, namely mineralised host rocks are predominantly gabbro and plagioclase-bearing pyroxenite that form a thin marginal envelope to interlayered peridotite and pyroxenite. Disseminated and subordinate massive sulphides are located near the basal contact, and massive sulphides are largely concentrated in depressions along the basal intrusive contacts beneath the thickest sequence of mafic-ultramafic cumulates. Exploration on the Sholl type intrusions has the potential of hosting major nickel-copper-cobalt ore bodies in structural embayments in basal contacts, as at Radio Hill. Mineralisation that has already been identified has indicated the potential of the system.
Whundo Copper Deposits
The Whundo and Yannery mining leases cover an area of approximately 900 hectares and are located 10 kilometres south of the Radio Hill treatment plant. This places Fox in a unique position as infrastructure at Radio Hill enhances the potential mining economics of the Whundo Copper Project. Copper was mined from the Whundo deposit intermittently since 1911, with the most recent operations ceasing in 1976. Total production from this deposit was 12,000 tonnes of direct shipping ore grading 27.4% copper. In the Whundo region a database consolidation campaign and review has commenced. This will result in a better geological understanding of the region, delineate targets for immediate testing and allow better planning of future exploration activities.
Mine For
nickel, copper, zinc
Location of operation(s)
Western Australia
Address
1 Tully Rd
WEST PERTH, WA, AUSTRALIA
Phone
08 9318 5600
Website
http://www.foxresources.com.au/
Last Updated
8/4/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
