nikko
From the quarterly report 29/07/05 :
"In Laos, Rox has formed a joint venture with local partner First Pacific Mining to explore and develop the potentially world class Pha Luang zinc-lead-silver project. Diamond drilling commenced at Pha Luang in early July after equipment availability delays and then record rains and floods in Laos and Southern China during June. The drilling is expected to take 4 6 weeks to complete, subject to conditions allowing access."
Excerpt from an earlier article in miningnews.net:
Managing director Ian Mulholland described the acquisition as an extremely exciting opportunity given the lateral, along strike and across strike extents of the zinc-lead-silver oxide deposits at Phu Luang. Indeed he believes the ground had the potential to host a world-class deposit.
"It is rare to find occurrences of high-grade (plus 50% zinc) mineralisation over 10 kilometres of strike and a well understood carbonate-hosted geological model in an area that has had no drilling," Mulholland said in a release to the market.
Rock chip samples taken from the site by Rox were said to have shown zinc oxide mineralisation grading up to 51% zinc, while samples from mixed lead-zinc oxide-carbonate mineralisation were said to have graded up to 32% lead and 24% zinc.
"Our local partner [First Pacific] is strong and credible and is currently mining oxide zinc at grades exceeding 30% zinc," Mulholland said.
Mulholland said the company would shortly begin drilling at the project.
"The acquisition will be a company maker for Rox if a large zinc-lead-silver sulphide deposit is delineated beneath the near-surface oxide mine. We are also excited about the pathway this deal creates for Rox to enter into other prospective projects in Laos with First Pacific," Mulholland said.