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MINREX RESOURCES LIMITED — Capital/Financing Update 2023
Feb 13, 2023
65375_rns_2023-02-13_18eff55e-c5a3-4297-99dd-cdf054b24887.pdf
Capital/Financing Update
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ASX Code: MRR
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14 February 2023
ASX Release
MAIDEN RC DRILLING RESULTS FROM COONDINA RARE EARTH PROJECT
HIGHLIGHTS
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MinRex has completed the maiden drilling program over the historic tin workings at the Coondina Project in the East Pilbara.
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The program comprised drilling 80 shallow vertical RC holes for 1,760m to test for rare earth element (REE) mineralisation, which represent a minor portion of the prospective area of the tenement E45/4266.
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Drilling was undertaken on 7 lines across and limited to the disturbed historic tin-tantalum mining area.
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Assays have been received for a suite of elements including Total Rare Earth Elements (TREE). Notable intercepts include:
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12m at 730ppm TREE from 3m (CNRC052).
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9m at 564ppm TREE from 3m (CNRC054).
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6m at 567ppm TREE from 6m (CNRC056).
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6m at 640ppm TREE from 6m (CNRC060).
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The drilling results confirm the Company’s view that the potential of the remainder of the Coondina Project to host REE.
MinRex Resources Limited ( ASX: MRR ) (“ MinRex ” or “the Company ”) is pleased to announce the first RC drilling results targeting the rare earth elements over the Coondina Li-Sn-Ta-REE Project (E45/4266).
The first-pass drilling was designed to target the historic tin-tantalum workings operated by Greenbushes Limited until 1987.
MinRex Resources Limited Managing Director Mr Karageorge commented on the REE results:
“MinRex is the first company to systematically drill the historic Coondina mined area since 1987.
The drilling confirms the potential for rare earth mineralisation on the tenement and we now look forward to extending the exploration across the remainder of the tenement, see Appendix 2.
“The result for the shallow maiden RC drilling program is significant at advancing the Coondina Project and added confidence for potentially hosting tin-tantalum-lithium and rare earth mineralisation”.
Coondina REE Project Area
Coondina is situated about 18 km south of Hillside Station homestead on the east bank of the Shaw River around 10 km from the Hillside Station to Nullagine Road. Within the central eastern portion of the tenement, the Coondina Monzogranite is believed to be hosting the strongly anomalous REE assays.
MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email [email protected]
7 Havelock Street, Perth WA 6005 www.minrex.com.au
ASX Code: MRR
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All historic tin-tantalum mineralisation is hosted within unconsolidated sediments associated with poorly defined drainage courses and floodplains.
The Coondina Project contains an abundant of late-stage pegmatites swarms which principally host the tin-tantalum mineralisation. Historically, 1,770.71t of tin concentrate and 84.33t of tantalite concentration was produced on site through alluvial mining.
Local Geology
The Coondina centre lies within the Shaw Batholith. The greater part of it is underlain by gneissic granite and migmatite of the older granite complex, but a small stock of younger granite (the Coondina Adamellite) crops out 2.5 km southeast of the deposits. Similar granite also occurs 3 km southwest of the workings (Figure 1). The cassiterite has its source in a number of flatly dipping veins of aplite-pegmatite of similar type to those found at Moolyella and Shaw River. The Cooglegong Monzogranite comprising coarse-grained to pegmatitic monzogranite is believed to host all the abundant and richest in tin veins approximately 1.4 km due east of the Coondina / McLeod Mine (Figure 1).
Historic Ground Exploration
In 1987, Greenbushes Ltd completed a feasibility study over the current tenure of Coondina and other surrounding historical tin-tantalum areas. The combination of pit sampling and auger drilling was used. The area was determined to be tin rich with considerable scope for increasing the historic mineral reserve with further drilling. No sampling for lithium or REE has been conducted.
Next Steps
MinRex will continue to explore the tenement for LCT-bearing pegmatites and follow up on the REE results achieved todate with a focus on geological mapping, rock chip and soil sampling.
This ASX announcement has been authorised for release by the Board of MinRex Resources Limited.
-ENDS-
For further information, please contact:
George Karageorge Managing Director MinRex Resources Limited T: +61 8 9481 0389 M: 0419 944 484 [email protected] [email protected]
About MinRex Resources Ltd
MinRex Resources Limited (ASX: MRR) is an Australian based ASX-listed emergent battery metals explorer with Lithium-Tin-Tantalum Projects in the Pilbara (WA) in close proximity to world-class Lithium and Tantalum producers Pilbara Minerals, Mineral Resources, and Global Lithium. MinRex also has a highly prospective portfolio of Gold-Copper projects in the Murchison and Pilbara Regions (WA) and Gold-Silver-Copper and other metals projects in the Lachlan Fold Belt (NSW). The Company’s tenements package cover 1,000km[2] of highly prospective ground targeting multi-commodities type deposits. The Company also currently has JORC 2012 Resources totalling 352,213 oz gold at its Sofala Project (NSW).
Competent Persons Statement
The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Ian Shackleton. Mr. Shackleton is the Technical Director of MinRex Resources Limited and is a Member of the AIG of whom have sufficient experience relevant to the styles of mineralisation under consideration and to the activity being reported to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Shackleton has verified the data disclosed in this release and consent to the inclusion in this release of the matters based on the information in the form and context in which it appears.
MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email [email protected]
7 Havelock Street, Perth WA 6005 www.minrex.com.au
ASX Code: MRR
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Forward Statement
This release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning MinRex’s planned exploration programs and other statements that are not historical facts. When used in this release, the words such as “could”, “plan”, “estimate”, “expect”, “anticipate”, “intend”, “may”, “potential”, “should”, “might” and similar expressions are forward-looking statements. Although MinRex believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve known and unknown risks and uncertainties and are subject to factors outside of MinRex’s control. Accordingly, no assurance can be given that actual results will be consistent with these forward-looking statements.
MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email [email protected]
7 Havelock Street, Perth WA 6005 www.minrex.com.au
ASX Code: MRR
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Figure1 – Location of RC Drilling at Coondina Project
MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email [email protected]
7 Havelock Street, Perth WA 6005 www.minrex.com.au
ASX Code: MRR
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Figure 2 – MinRex Resources Project Locations
MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email [email protected]
7 Havelock Street, Perth WA 6005 www.minrex.com.au
ASX Code: MRR
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Appendix 1 – Coondina RC Drillhole Locations at E45/4266
| Hole ID | Easting | Northing | RL | Total Depth |
|---|---|---|---|---|
| CNRC001 | 746226 | 7575347 | 320 | 22 |
| CNRC002 | 746272 | 7575353 | 319 | 22 |
| CNRC003 | 746306 | 7575356 | 323 | 22 |
| CNRC004 | 746346 | 7575353 | 323 | 22 |
| CNRC005 | 746385 | 7575351 | 324 | 22 |
| CNRC006 | 746430 | 7575353 | 322 | 22 |
| CNRC007 | 746465 | 7575353 | 327 | 22 |
| CNRC008 | 746514 | 7575339 | 320 | 22 |
| CNRC009 | 746546 | 7575348 | 319 | 22 |
| CNRC010 | 746585 | 7575354 | 304 | 22 |
| CNRC011 | 746621 | 7575357 | 319 | 22 |
| CNRC012 | 746666 | 7575358 | 320 | 22 |
| CNRC013 | 746229 | 7575753 | 319 | 22 |
| CNRC014 | 746263 | 7575763 | 307 | 22 |
| CNRC015 | 746308 | 7575766 | 320 | 22 |
| CNRC016 | 746354 | 7575766 | 320 | 22 |
| CNRC017 | 746388 | 7575764 | 325 | 22 |
| CNRC018 | 746429 | 7575761 | 326 | 22 |
| CNRC019 | 746469 | 7575770 | 322 | 22 |
| CNRC020 | 746520 | 7575773 | 332 | 22 |
| CNRC021 | 746553 | 7575768 | 327 | 22 |
| CNRC022 | 746590 | 7575762 | 326 | 22 |
| CNRC023 | 746625 | 7575757 | 328 | 22 |
| CNRC024 | 746667 | 7575753 | 329 | 22 |
| CNRC025 | 746710 | 7575757 | 327 | 22 |
| CNRC026 | 746243 | 7576164 | 321 | 22 |
| CNRC027 | 746275 | 7576159 | 319 | 22 |
| CNRC028 | 746314 | 7576163 | 319 | 22 |
| CNRC029 | 746353 | 7576165 | 323 | 22 |
| CNRC030 | 746393 | 7576158 | 320 | 22 |
| CNRC031 | 746436 | 7576154 | 323 | 22 |
| CNRC032 | 746478 | 7576149 | 323 | 22 |
| CNRC033 | 746521 | 7576142 | 326 | 22 |
| CNRC034 | 746554 | 7576143 | 322 | 22 |
| CNRC035 | 746596 | 7576144 | 321 | 22 |
| CNRC036 | 746632 | 7576147 | 326 | 22 |
| CNRC037 | 746674 | 7576152 | 324 | 22 |
| CNRC038 | 746712 | 7576147 | 325 | 22 |
| CNRC039 | 746247 | 7576547 | 323 | 22 |
| CNRC040 | 746279 | 7576553 | 317 | 22 |
| CNRC041 | 746304 | 7576559 | 316 | 22 |
| CNRC042 | 746448 | 7576553 | 324 | 22 |
MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email [email protected] 7 Havelock Street, Perth WA 6005 www.minrex.com.au
ASX Code: MRR
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| CNRC043 | 746474 | 7576553 | 323 | 22 |
|---|---|---|---|---|
| CNRC044 | 746518 | 7576552 | 326 | 22 |
| CNRC045 | 746562 | 7576551 | 328 | 22 |
| CNRC046 | 746601 | 7576546 | 319 | 22 |
| CNRC047 | 746643 | 7576553 | 324 | 22 |
| CNRC048 | 746681 | 7576552 | 328 | 22 |
| CNRC049 | 746724 | 7576554 | 328 | 22 |
| CNRC050 | 746488 | 7576965 | 332 | 22 |
| CNRC051 | 746526 | 7576954 | 331 | 22 |
| CNRC052 | 746570 | 7576947 | 326 | 22 |
| CNRC053 | 746611 | 7576944 | 323 | 22 |
| CNRC054 | 746653 | 7576945 | 319 | 22 |
| CNRC055 | 746691 | 7576949 | 320 | 22 |
| CNRC056 | 746726 | 7576952 | 322 | 22 |
| CNRC057 | 746492 | 7577351 | 321 | 22 |
| CNRC058 | 746532 | 7577355 | 326 | 22 |
| CNRC059 | 746571 | 7577353 | 322 | 22 |
| CNRC060 | 746625 | 7577356 | 318 | 22 |
| CNRC061 | 746656 | 7577364 | 319 | 22 |
| CNRC062 | 746690 | 7577363 | 318 | 22 |
| CNRC063 | 746732 | 7577361 | 318 | 22 |
| CNRC064 | 746368 | 7577355 | 327 | 22 |
| CNRC065 | 746336 | 7577370 | 321 | 22 |
| CNRC066 | 746297 | 7577355 | 323 | 22 |
| CNRC067 | 746256 | 7577347 | 317 | 22 |
| CNRC068 | 746732 | 7577748 | 318 | 22 |
| CNRC069 | 746697 | 7577743 | 319 | 22 |
| CNRC070 | 746651 | 7577738 | 311 | 22 |
| CNRC071 | 746613 | 7577744 | 319 | 22 |
| CNRC072 | 746575 | 7577753 | 321 | 22 |
| CNRC073 | 746531 | 7577751 | 321 | 22 |
| CNRC074 | 746495 | 7577753 | 323 | 22 |
| CNRC075 | 746453 | 7577753 | 321 | 22 |
| CNRC076 | 746416 | 7577755 | 320 | 22 |
| CNRC077 | 746373 | 7577759 | 323 | 22 |
| CNRC078 | 746339 | 7577761 | 332 | 22 |
| CNRC079 | 746297 | 7577754 | 321 | 22 |
| CNRC080 | 746257 | 7577751 | 321 | 22 |
| Total | 1,760m |
(1) All RC holes were drilled vertically.
MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email [email protected]
7 Havelock Street, Perth WA 6005 www.minrex.com.au
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ASX Code: MRR
Appendix 2 – Coondina Notable RC Assay REE Assay Results
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Hole_ID Depth_From Depth_To Ce_ppb Dy_ppb Er_ppb Eu_ppb Gd_ppb Ho_ppb La_ppb Lu_ppb Nd_ppb Pr_ppb Sm_ppb Tb_ppb Tm_ppb Y_ppm Yb_ppb TREE_ppm
CNRC044 6 9 194000 1500 700 1500 3500 400 204000 -500 71000 31000 8500 500 100 7 1000 517
CNRC044 21 22 244000 14000 8000 3000 15500 2300 183000 2000 152000 44000 23000 2500 1400 75 11000 706
CNRC052 3 6 233000 8500 4000 3000 11000 1500 167000 1000 107000 33500 19000 1700 500 40 4000 595
CNRC052 6 9 201000 20500 9500 5500 23500 3900 234000 2000 196000 54000 35500 3700 1300 99 10500 801
CNRC052 9 12 191000 10000 5200 3000 13000 1800 189000 1000 135000 37000 23500 1900 700 58 6000 618
CNRC052 12 15 191000 21500 9200 5000 29000 3700 324000 1500 210000 59000 35000 4000 1700 111 11000 906
CNRC054 3 6 274000 9000 4600 2500 11000 1600 155000 1000 101000 29500 15500 1700 1000 53 6000 613
CNRC054 6 9 197000 8000 4500 2000 10500 1600 138000 1000 102000 28500 15500 1500 800 51 5000 516
CNRC054 9 12 194000 9000 4900 2500 13500 1900 164000 1000 114000 32500 18500 1600 900 54 5000 563
CNRC056 6 9 213000 17000 9200 3000 16500 3200 118000 1500 107000 29500 19000 2700 1500 98 10500 552
CNRC056 9 12 176000 12000 5900 3000 14500 2200 170000 1000 132000 33500 21000 2200 900 66 9000 583
CNRC060 0 3 129000 21000 10000 6500 28500 3200 241000 2000 200000 55500 40500 3900 1400 86 11500 754
CNRC060 3 6 91000 17000 7200 5000 22000 2500 175000 1500 131000 34500 25000 2800 1400 88 10500 526
CNRC068 6 9 199000 11500 5300 4500 16000 2000 106000 1000 111000 27500 19500 2200 600 60 4500 511
----- End of picture text -----
(1) Notable results comprise intercepts ≥3m at ≥500ppm TREE
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ASX Code: MRR
Appendix 3
– JORC Code, 2012 Edition Table 1 report
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections)
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Sampling techniques | Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. |
A total of 80 vertical reverse circulation (RC) drill holes were completed for 1,760m over the Coondina Project. Samples were collected from the cuttings returned from the RC drilling at intervals of 1m. The 3m composites samples were collected by using an aluminium scoop to obtain as representative as possible sample from the individual 1m samples collected from the drill rig cyclone. The 1m samples were collected directly from the cone splitter beneath the cyclone on the drilling rig. Samples nominally weighed between 2kg and 5kg and averaged around 3kg for the 1m and 3m composites. Duplicates were collected at a rate of every 50 samples and standards or CRM (Certified Reference Materials) were also submitted at the rate of every 50 samples for assay. Industry standard practices were used to ensure sample representivity. Intervals were geologically logged by a geologist at the same time as the drilling was undertaken. Nagrom Laboratories in Perth applied industry standard QA-QC for sample preparation and appropriate instrument calibration. |
| Drilling techniques | Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). |
Foraco Drilling Services used a KWL700 truck-mounted RC drill rig using a 5 ¼” face sampling hammer with and industry standard cyclone and cone splitter to complete the program. |
| Drill sample recovery | Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery andgrade and whether sample |
All one metre intervals were logged, sample recoveries were estimated as a % and the condition of the sample (dry or wet) were recorded by the geologist. In some of the holes significant amounts of water intersectedparticularlyin the |
| ASX Code: MRR | |||
|---|---|---|---|
| bias may have occurred due to preferential loss/gain of fine/coarse material. | southern portion of the area drilled, which did impact on the condition of the samples recovered. In general, although, it is not considered to have impacted on results as observed by the consistency of the duplicate samples collected from the drill rig. |
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| Logging | Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged. |
All RC drilling is qualitatively and quantitatively logged for geological attributes in their entirety including as appropriate major & minor lithologies, alteration and weathering from the start to end of the hole. The Project area is currently classified as at early stage of exploration and no Mineral Resource estimation is applicable. |
|
| Sub-sampling techniques and sample preparation |
If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to thegrain size of the material being sampled. |
All RC holes were sampled and split at 1 metre intervals using a cone splitter beneath the cyclone to produce a sample between 2kg and 5kg for submission to Nagrom Labs in Perth. A nominal one in fifty of all samples are analysed in duplicate. In addition, re-splits if required, are also analysed to determine the precision of the sample preparation and analytical procedures. The sample sizes are appropriate to the grain size of the material been sampled. |
|
| Quality of assay data and laboratory tests |
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. |
Approx. 4% of submitted samples are in the form of either standards (CRM) and duplicates and were submitted with the normal batches of samples to Nagrom Laboratories Perth. A statistical review of the duplicates and CRM data by independent database management firm Rock Solid has not identified any bias with the sampling or assays. All samples were submitted for analysis to Nagrom Laboratories in Perth. Geophysical Tools: Not Applicable |
|
| Verification of sampling and assaying |
The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. |
All field data was collected then transferred into a computer database stored by independent consultants Rock Solid. The reporting of total rare earth elements in ppm was undertaken by adding up the 15 elements reported in ppb and dividing the total by 1,000 to convert to ppm. No other adjustment has been made to the assay data. |
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ASX Code: MRR
| Location of data points | Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control. |
All drill holes collars were icked up using a hand-held Garmin GPS with an accuracy of +/-5m. As all holes were shallow and drilled vertically there were no down hole surveys completed. The datum for data is GDA94, Zone 50. |
| Data spacing and distribution |
Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. |
Data spacings and distribution at this stage is not considered adequate for estimation of a Mineral Resource. |
| Orientation of data in relation to geological structure |
Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. |
All RC holes were drilled vertically into a historically mined alluvial/colluvial tin deposit. As the geological setting was considered to sedimentary and likely to be sub-horizontal the vertical holes were considered the most appropriate to achieving as close to possible an unbiased true thickness of any potential mineralised zones. The relationship between the drilling orientation and the orientation of the mineralised ore shoot is not considered to have introduced any material sampling bias to the assays. |
| Sample security | The measures taken to ensure sample security. | Samples were stored on site prior to being transported to the laboratory for analysis by reputable freight company. The sample pulps are stored at the laboratory and will be returned to the Company and stored in a secure location. |
| Audits or reviews | The results of any audits or reviews of sampling techniques and data. | No audits or reviews have been undertaken. |
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section)
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Mineral tenement and land tenure status |
Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known |
MinRex Resources Ltd hold a 100% of the Coondina REE Project tenement E45/4266. There are no impediments to operating on the tenure to undertake exploration programmes apart from the usual requirements to undertake heritage surveys and |
| ASX Code: MRR | |||
|---|---|---|---|
| Criteria | JORC Code explanation | Commentary | |
| impediments to obtaining a licence to operate in the area. | obtain approvals via a Programs of Work from the DMIRS. | ||
| Exploration done by other parties |
Acknowledgment and appraisal of exploration by other parties. | Limited exploration has been undertaken over these project areas. No ground geophysics, drilling along with minor geological mapping and soil sampling has been historically completed. |
|
| Geology | Deposit type, geological setting, and style of mineralisation. | The area evaluated comprises alluvial/colluvial accumulations of tin and to a lesser degree tantalum associated with alluvial/colluvial silts, sands, and gravels from Recent deposits. The accumulation of the rare earth elements has not been determined to confirm whether they are associated with the alluvial/colluvial sediments or weathered granites or pegmatites associated with the Cooglegong Monzogranite. |
|
| Drill hole Information | A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: oeasting and northing of the drill hole collar oelevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar odip and azimuth of the hole odown hole length and interception depth ohole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. |
Refer Appendix 1. | |
| Data aggregation methods | In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated. |
The aggregation methods for reporting the assays results in Appendix 2 of this announcement comprised a simple addition of the 15 elements that had continuous intercepts ≥3m at ≥500ppm total rare earth elements. |
|
| Relationship between mineralisation widths and intercept lengths |
These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear _statement to this effect(eg ‘down hole length, true width not known’). _ |
The true width and geometry of the total rare earth mineralisation is not known/understood as these are first-pass exploration drilling results and drill spacing is insufficient. |
| ASX Code: MRR | |||
|---|---|---|---|
| Criteria | JORC Code explanation | Commentary | |
| Diagrams | Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
Refer Announcement. A cross -section has not been included as drill spacing is not sufficient to draw meaningful relationship on geometry. |
|
| Balanced reporting | Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. |
N/A | |
| Other substantive exploration data |
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. |
There is no other substantive data / information pertaining to these drilling intercepts to report. |
|
| Further work | The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. |
Future work program will involve looking at the potential for rare earth element mineralisation beyond the current historic mined tin deposit. |