Stocks of the Hour: RareX, TechGen Metals, Anax Metals

Company News

by Abbey Phillipps

RareX (ASX:REE) today reported positive outcomes from a Scoping Study completed on its 100% owned Cummins Range Rare Earths Project , located in the Kimberley region of WA. The Scoping Study was led by Primero with support from Mining Plus among other leading consultancies. Shares are trading 1.7 per cent lower at 6 cents.

TechGen Metals (ASX:TG1) today confirmed a gold discovery at their John Bull Gold Project, NSW, where a maiden RC drilling program of 7 holes was recently completed. The John Bull Gold Project is located within the New England Orogen in northern New South Wales . The drilling program was the first drilling ever to be completed within the project area.  Ashley Hood, Managing Director, commented: “A new gold discovery from the surface has been confirmed by assay results from the maiden drilling program.” “This is exactly what we hoped for, another exceptionally broad zone of mineralisation with higher grade intercepts. This amazing asset now has serious upside!" Shares are trading flat at 21 cents.

Anax Metals (ASX:ANX) today announced a revised JORC Mineral Resource for the Salt Creek Deposit at the Whim Creek Copper-Zinc Project located at Port Hedland in the West Pilbara Region of Western Australia. The Company’s Managing Director, Geoff Laing, said “the significant increase in copper and zinc resources at Salt Creek demonstrates, once again, the fantastic opportunity this Pilbara project offers. Salt Creek remains open at depth with significant exploration upside and we look forward to evaluating the underground and growth potential at this high grade deposit.” Shares are trading 7.7 per cent higher at 7 cents.

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