Rex Minerals Ltd
(ASX:RXM) has today announced its first mineral resource estimate for its 100% owned Hillside copper project on the Yorke Peninsula in South Australia.
Media reports earlier speculated that the Hillside project will be one of the largest in Australia in recent times, with the market anticipating an initial resource estimate significantly more than first expected.
Rex Minerals has confirmed a resource of 700,000 tonnes of copper and 650,000 ounces of gold.
Managing Director Steven Olsen says the resource at Hillside has the potential to become one of Australia’s largest copper projects behind Olympic Dam and Mt Isa.
Rex Minerals reported a loss of $1.85 million for the year ending 30 June 2009.
