MinRex Resources


MinRex Resources (ASX:MRR) is an Australian based ASX listed resources company with projects in the Lachlan Fold Belt (LFB) of NSW, a world-class gold-copper province and over the Marble Bar and Murchison Regions of WA.

Currently the Company’s tenements package cover 619km2 of highly prospective ground targeting multi-commodities type deposits. Currently the company has JORC 2012 Resources totalling 352,213 oz gold.

Projects

New South Wales Projects

Sofala Project Area: The Sofala Gold Project is located 250 km north-west of Sydney near the town of Sofala in the central western region of New South Wales. The project is considered prospective for gold mineralisation and contains considerable historical surface and hard rock gold workings. Historic hard rock mining activities has been reported to be over 24,383 oz Au extracted. Within the last 3 months, MinRex has defined two New Maiden JORC 2012 Inferred Mineral Resource for Spring Gully and Surface Hill Prospect yielded 10.29Mt at 1.07 g/t Au containing 352,900 oz Gold. Currently, MinRex is planning a 5,000m RC drill program to target the Queenslander and Spring Gully prospects with a further view of increase the grade of gold and the tonnages.

Sunny Corner Project: MinRex surrounds the Sunny Corner Mine which the first silver smelting operation in Australia with production estimated approximately 210,000t of ore was treated for a recorded production of 2,900,000 oz of silver, 10,100 oz of Gold and 980t of copper. Lead and zinc were reportedly abundant in the ore, but no accurate records of production were made as most of the metals were lost during smelting to the flux or with the slag. The current project area is characterised by the following mineralisation styles:

  1. Volcanic associated massive sulphides (Sunny Corner – Pb-Zn-Cu);
  2. Remobilised structural controlled shear hosted base metals (Nevada - Cu) and
  3. Quartz vein hosted gold deposits with a genetic link to the quartz-feldspar porphyry intrusions (Bobs Creek, Little Hill and Big Hill Prospects).

Mt Pleasant Project: The Mt Pleasant Mo-W-Cu prospect area has been classified as advance with over 56 Percussion/Diamond drillholes totalling over 15,887m. The molybdenum and tungsten mineralisation envelop has been modelled with mineralisation has over 1,105m in length, 700m in width and 540m vertical in depth. MinRex will undertake detailed airborne geophysics interpretation over the whole exploration licence along with the commencement of the first 2012 JORC compliant resource over Mt Pleasant prospect. Drillhole mineralisation hosting molybdenum vary from 9m to 213.3m in vertical depth.

The Mt Pleasant prospect provides an accessible, large-scale porphyry system which has received little modern exploration. Drilling, geophysics, geology, and geochemistry provide ready vectors for two immediate target areas. Other prospects with Mt Pleasant project include:

  1. Aaron Pass Mo-W prospect (classified as pipe/vein system).
  2. Crown Gold Mine (classified as sulphide-quartz gold vein system) with production of 349 oz Au averaging 5.3 g/t Au.
  3. Two Auriferous (gold) placer prospects to the SSW portion of licence have no exploration conducted.
  4. Glasscock Au-Ag-Cu-Pb-Zn prospect (classified as epithermal sheeted vein system) hosting high grade rock chip from surface along with confirmed drilled sulphide mineralisation at depth.

Western Australia Projects

The Bamboo Creek Project lies proximal to Bamboo Creek Goldfields (5.5 km to the east of current tenement with historic production of 226,000 oz of Gold) with the Spinifex Ridge Deposit (658Mt @ 0.045% Mo, 0.08% Cu, 1.27 g/t Ag) lies 1.5km west of the northern boundary and 3.5 km west of Spinifex Ridge Iron Deposit (5.5Mt @ 58% Fe). Project is highly prospective for granite-greenstone contact – attractive for several mineralisation styles including porphyry hosted molybdenum-copper, shear related gold deposits and BIF Iron deposits. The project has 5 highly prospective areas known as the following.

  1. Norms Find Prospect: 400m long shear zone with rock chip assay results of 30.8 g/t gold, 478.5 g/t silver and 26.6% copper.
  2. BC07 Prospect: Two parallel quartz veins assaying 1.34 g/t gold, 87.6 g/t silver, 0.34% copper and 11.85% fluorite.
  3. Nobb Hill Intrusion Prospect: Intrusion is about 2.5 km long with assays up to 3.15% chromium and 0.18% nickel.
  4. Northern Portion of Project has 1.7 km strike of Iron Rich Formation with assays more than 40% iron and 61.47% iron.

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