AI assistant
MINREX RESOURCES LIMITED — Interim / Quarterly Report 2018
Jul 18, 2018
65375_rns_2018-07-18_26bd9731-07f1-454f-b7e2-920100ffab5d.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
==> picture [131 x 43] intentionally omitted <==
Quarterly Activities and Cash Flow Report for the Quarter Ended 30 June 2018
19 July 2018
HIGHLIGHTS
-
On the 21 June 2018, MinRex announced that the assay results had been received for the rock sampling completed at MinRex’s four East Pilbara Project areas during May 2018. A total of 190 samples were collected from old workings, prospects, outcrops and float in these leases.
-
Sampling of the old workings in the Marble Bar North Project area (P45/3040) returned gold assays of up to 42.9g/t Au, the average grade of all 40 samples was 4.86g/t Au. Similarly, samples from the old workings in the Marble Bar South Project area (P45/3039) returned gold assays of up to 47.6g/t Au, with the average grade of all 40 samples being 4.16g/t Au.
-
Sampling of the old workings, dumps, outcrop and float in the Daltons Project area (E45/4681) returned assays of up to 163g/t Au and 8.17% Cu, with the average grade of all 60 samples being 9.9g/t Au and 0.49% Cu.
-
There are no old workings in MinRex’s Bamboo Creek Project area (E45/4560 & 4853) but the 50 samples collected, at previously identified gold, copper, chrome, nickel and polymetallic prospects, outcrop and float, returned assay values of up to 7.8g/t Au, 42g/t Ag, 14.3% Cu, 0.18% Cr, 0.11% Ni, 0.12% Pb and 0.09% Zn.
-
The two Marble Bar Project licences (P45/3039 & 3040) were granted on the 2 July 2018.
-
On the 21 June 2018, MinRex announced that, following completion of the due diligence process, it had terminated the proposed acquisition of Clean Power Resources Pty Ltd (CPR).
-
As at 30 June 2018 the Company had available cash of $1.540 million.
About MinRex
MinRex Resources Limited (ASX:MRR) (“MinRex” or “the Company”) is an exploration company, listed on the Australian Securities Exchange, with its present focus being the exploration of gold and base metal projects in Western Australia and a tin project in Tasmania. During the Quarter, the Company carried out due diligence towards a proposed acquisition of cobalt-scandiumcopper-nickel projects in NSW and WA, but decided not to proceed in June 2018.
MinRex currently holds six projects, four in the East Pilbara area of WA – the Daltons Gold Project, the Bamboo Creek Gold Project, the Marble Bar North Gold Project and the Marble Bar South Gold Project; as well as the Deflector Extended Gold Project at Gullewa in Western Australia and the Heemskirk Tin Project on the west coast of Tasmania (Figure 1).
1
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
==> picture [279 x 220] intentionally omitted <==
Figure 1: Location of MinRex Project Areas
East Pilbara Gold Projects
Acquisition of a 70% interest in the four East Pilbara Project areas was finalized in February 2018 and MinRex completed a large detailed surface geological evaluation and sampling program on these properties, near Marble Bar in the East Pilbara Region, during May and June 2018.
==> picture [337 x 381] intentionally omitted <==
Figure 2: Satellite Image showing MinRex’s four East Pilbara Project Areas
2
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
As announced on the 21 June 2018, a detailed data compilation and review of historic mining and mineral exploration within the East Pilbara project areas had been completed, leading to the field exploration work commencing, during May 2018. This first stage of field exploration included geological mapping, rock sampling and ground verification of previous exploration and sampling programs. The initial exploration of the East Pilbara Project areas included the collection of a considerable number of rock samples from the areas of old workings in both P45/3040 and P45/3039, at the Marble Bar North and South Project areas, and the workings at the Daltons Project (E45/4681) and the previously defined prospect areas at the Bamboo Creek Project (E45/4560 & 4853).
Marble Bar North Project
At Marble Bar North (P45/3040) a total of 40 rock samples were collected from the extensive old workings, variously named Ironclad, Jo Jo North and Betty Boo, during May 2018. The gold mineralisation in this area occurs as quartz veins in sheared greenstones, and associated alteration zones, in dolerite and other mafic rock types, close to the greenstone/granite contact.
This lease has been worked extensively in the past and, within the lease, a line of old gold workings lies along the lithological contact between sheared and metamorphosed mafic volcanic rocks and intrusive granite. This highly sheared contact zone trends north-south and hosts an extensive gold-bearing quartz vein system that dips shallowly to the west, within the encompassing shear zone.
==> picture [437 x 219] intentionally omitted <==
Figure 3: View to the north (along strike) at the Ironclad Gold Mine Workings in P45/3040
The Ironclad Gold Mine workings form part of the Marble Bar Group of gold mines, which contain a total of 29 gold occurrences, with a historic gold production of about 1,298kg, within a strike extent of about 4km. The Ironclad Mine was worked from the 1890’s until 1933 and produced 1,451oz of gold from 2,843t of ore treated; a sizeable proportion of this production was from the area now covered by P45/3040.
The 40 rock samples from the Marble Bar North Project area were collected from old mine workings, spoil piles and outcropping quartz veins. The samples were analysed for a total of 20 elements at Bureau Veritas in Perth; these included gold, silver, arsenic, cobalt, copper, chrome, bismuth, iron, lithium, manganese, molybdenum, nickel, lead, antimony, tin, tellurium, thorium, uranium, tungsten and zinc. A few samples were anomalous in various elements but the outstanding results were in the gold assays which varied from 10ppb Au up to 42.9g/t Au, with an
3
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
average for all 40 samples of 4.86g/t Au, and 17 of the 40 samples assaying over 1.0g/t Au. The full assay results for gold and base metals are in Appendix 1, with the gold results also shown on the plan below (Figure 4). The full results were detailed in the ASX release of the 21 June 2018.
The next phase of field work at the Marble Bar North Project will comprise further rock sampling, soil sampling in colluvium and soil covered areas and detailed geological mapping to better understand this gold mineralised system. It is probable that this work will be completed in the next few months during the current field season in the East Pilbara.
The Marble Bar North Project licence (P45/3040) was granted on the 2 July 2018, for a period of four years.
==> picture [423 x 423] intentionally omitted <==
Figure 4: Marble Bar North Project P45/3040 showing workings and current gold assay results
Marble Bar South Project
At the Marble Bar South Project (P45/3039) a total of 40 rock samples were collected to add to the ten collected in December 2017. The lease has a line of old workings running along a 30-40m high ridge of greenstone rocks. The old mine was known as McKays Find and the mineralisation occurs as a 2m wide zone of pyritic-fuchsite-carbonate rock, with associated quartz veining. The mined zone was 100m long, 0.5-2m wide, strikes at 010[o] and dips at 70-90[o] to the east, the ore shoot plunges east/southeast, parallel to the intersection of fracturing and regional schistosity.
4
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
==> picture [259 x 193] intentionally omitted <==
==> picture [172 x 193] intentionally omitted <==
Figure 5: View of some of the old workings at McKays Find in P45/3039
The 40 rock samples from the Marble Bar South Project were also collected from old mine workings, spoil piles and outcropping quartz veins. The samples were analysed for a total of 20 elements at Bureau Veritas in Perth; these included gold, silver, arsenic, cobalt, copper, chrome, bismuth, iron, lithium, manganese, molybdenum, nickel, lead, antimony, tin, tellurium, thorium, uranium, tungsten and zinc. A few samples were anomalous in various elements but the outstanding results were in the gold assays which varied from 7ppb Au up to 47.6g/t Au, with an average for all 40 samples of 4.16g/t Au, and 14 of the 40 samples assaying over 1.0g/t Au. The full assay results for gold and base metals are in Appendix 2, with the gold results also shown on the plan below (Figure 7). The full results were detailed in the ASX release of the 21 June 2018.
==> picture [357 x 317] intentionally omitted <==
Figure 6: View to the north along the ridge hosting the gold mineralisation in P45/3039
5
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
==> picture [393 x 428] intentionally omitted <==
Figure 7: Marble Bar South Project P45/3039 showing workings and current gold assay results
The next phase of field work at the Marble Bar South Project will closely mirror that at the Marble Bar North Project, comprising further rock sampling, soil sampling in colluvium and soil covered areas and detailed geological mapping to better understand this gold mineralised system. It is probable that this work will also be completed in the next few months during the current field season in the Pilbara.
The Marble Bar South Project licence (P45/3039) was granted on the 2 July 2018, for a period of four years.
Daltons Project
At the Daltons Project (E45/4681) a total of 60 rock samples were collected from the extensive old workings, variously named Daltons, McLeods Reward, Thomas’s, Eclipse and Corona, during May 2018. These old gold workings are located along a north-northwest-trending line of quartz and quartz-carbonate veins which have intruded the foliation of mafic greenstone schist and associated alteration zones in dolerite and other mafic rock types. The geology strikes northnorthwest, is steeply dipping and layered with bands of jaspilite, quartzite, ultramafic, felsic, mafic and amphibolite rocks. There are many structurally complex areas, numerous shear zones and steeply plunging fold axes, with dips being between steeply east-dipping and vertical.
6
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
==> picture [437 x 180] intentionally omitted <==
Figure 8: View to the south along the line of old workings at Daltons in E45/4681
The 60 rock samples collected at the Daltons Project were from the old mine workings, spoil piles and outcropping quartz veins. The samples were analysed for a total of 20 elements at Bureau Veritas in Perth; these included gold, silver, arsenic, cobalt, copper, chrome, bismuth, iron, lithium, manganese, molybdenum, nickel, lead, antimony, tin, tellurium, thorium, uranium, tungsten and zinc. The outstanding results were in the gold and copper assays which were up to 163g/t Au and 8.17% Cu, with the average grade of all 60 samples being 9.9g/t Au and 0.49% Cu, and 19 of the 60 samples assaying over 1.0g/t Au. The full assay results for gold and base metals are in Appendix 3, with the gold results also shown on the plan below (Figure 10). The full results were detailed in the ASX release of the 21 June 2018.
==> picture [164 x 172] intentionally omitted <==
==> picture [270 x 172] intentionally omitted <==
Figure 9: View of the old decline and a shaft and spoil dump at Daltons in E45/4681
The Daltons gold workings can be traced for about 1500m in strike length, with the main quartz lode marked by workings for about 700m, the maximum width is up to 10m and the strike is 170[o] . Recorded production was 5.543kg of gold from 409.5t of ore, for an average grade of 13.54g/t Au. The quartz reefs are principally parallel with the schistosity within the greenstones. There are several shafts, two of which extend to depths of about 20m and some open cutting – there are copper minerals associated with the gold mineralisation in the workings.
7
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
==> picture [442 x 545] intentionally omitted <==
Figure 10: Daltons Project E45/4681 showing workings and current gold assay results
This lease area is large and holds the remains of an old battery, with old tracks that provide access to most of the workings. The mineralisation occurs as gold-copper in quartz veins with the highest copper content (shown by green malachite and red cuprite minerals in the quartz) being associated with the highest gold grades. The lease is remote and accessed by driving abut 89km to the southwest of Marble Bar via various unsealed roads and tracks – about 2 ½ hours travel time from Marble Bar.
8
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
Bamboo Creek Project
At the Bamboo Creek Project (E45/4560 & 4853) a total of 50 rock samples were collected, including several samples from some of the previously named prospects, including Norms Find, BC07 and Nobb Well, as well as various outcropping quartz veins and breccia zones.
==> picture [435 x 117] intentionally omitted <==
==> picture [190 x 190] intentionally omitted <==
==> picture [242 x 190] intentionally omitted <==
Figure 11: Views of the Nobb Well and BC07 prospect areas and close-up of fluorite-rich sulphide mineralisation from BC07, in the Bamboo Creek Project in E45/4560
There are no old workings in MinRex’s Bamboo Creek Project area (E45/4560 & 4853) but the 50 samples collected at previously identified gold, copper, chrome, nickel and polymetallic prospects, outcrop and float returned assay values of up to 7.8g/t Au, 42g/t Ag, 14.3% Cu, 0.18% Cr, 0.11% Ni, 0.12% Pb and 0.09% Zn. The full assay results for gold and base metals are in Appendix 4, with the gold, copper, nickel and chrome results also shown on the plans below (Figures 12 & 13). The full results were detailed in the ASX release of the 21 June 2018.
Gold mineralisation in the Bamboo Creek area is associated with quartz veins, while Norms Find is a copper-gold prospect (containing green malachite), BC07 is a quartz vein in granite, associated with sulphide minerals and high fluorite content, and Nobb Well is a large intrusive ultramafic body with elevated nickel and chrome contents.
Previous explorers of the Norms Find prospect identified gossanous structures and malachite-staining within this northerly striking, sub-vertical quartz vein structure; while previous work at the BC07 prospect area identified chalcopyrite, pyrite, molybdenite and fluorite at this large quartz vein system, which strikes north-northeast.
The Bamboo Creek Project is large, being several times the size of all the other East Pilbara Project areas combined, with reasonable access via the unsealed road to Coppins Gap and various station tracks; however, the tracks are limited, and it is generally
9
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
necessary to complete foot traverses to the various prospects due to the rocky undulating terrain.
==> picture [438 x 317] intentionally omitted <==
Figure 12: Northern part of the Bamboo Creek Project with Norms Find and BC07 prospect areas
==> picture [438 x 317] intentionally omitted <==
Figure 13: Central part of the Bamboo Creek Project with the Nobb Well prospect area
10
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
The next phase of field work in the East Pilbara Region will again incorporate visits to all of the project areas in the Marble Bar area. More detailed rock sampling, soil sampling in colluvium and soil covered areas and detailed geological mapping will be utilised to better understand these gold, base metal and poly-metallic mineralised systems. It is probable that this work will be completed in the next few months during the current field season in the Pilbara.
Termination of Clean Power Resources Pty Ltd Acquisition
On the 26 March 2018, MinRex announced that it was proposing to acquire Clean Power Resources Pty Ltd, an exploration company with three cobalt-scandium-copper-nickel project areas in NSW and WA. These projects were to be acquired by MinRex in order to secure, explore and develop prospective areas with known cobalt, scandium and nickel mineralisation.
Due diligence and detailed studies of these project areas continued throughout the Quarter, with regular updates being released by MinRex in April, May and June of 2018 (4 April, 20 April, 24 April, 14 May, 24 May and 6 June 2018). On 21 June 2018, MinRex announced that following completion of the due diligence work, the Company had decided not to proceed with the acquisition of Clean Power Resources Pty Ltd, and had terminated the binding Heads of Agreement in accordance with its terms. As announced on the 25[th] June 2018, the General Meeting of MinRex shareholders held on that date passed Resolution 1, with Resolutions 2 and 3 being withdrawn by the Company prior to the General Meeting, following termination of the proposed acquisition.
Deflector Extended Gold Project
MinRex’s Deflector Extended Gold Project (E59/1657) lies to the northeast of the Doray Minerals Limited (“Doray”) Deflector Mine, where copper-gold mineralisation occurs in shear zones in meta-basalt, and also the Golden Stream open cut, where gold was produced from shear zonehosted quartz veins in meta-basalt. Both deposits trend towards MinRex’s tenement, where deep cover sequences have hindered previous exploration work. The Deflector Mine was opened in May 2016, as an underground mining operation on copper-gold sulphide lodes; Doray is also actively exploring its Deflector area tenements, with drilling at the Deflector Mine and other mines and prospects in the area.
About 85% of the area of E59/1657 is covered by sand, colluvium, scree and alluvium, with only about 15% outcrop of mafic meta-basalts in the Cagacaroon Hills area, and other small areas of granite and dolerite. Minrex has been actively exploring the Project area since 2011, utilising surface sampling and geological mapping to hone in to buried mineralized structures and favourable settings for mineralization.
During November 2017, an extensive surface exploration program was conducted at MinRex’s Deflector Extended Gold Project, including geological mapping and the collection of 184 new surface rock samples; the full results of this program were reported in an ASX announcement on 11 December 2017.
MinRex has now collected a total of 534 surface rock, scree and float samples in the Deflector Extended Gold Project area, along with many soil samples and auger drill results, which have defined significant anomalous zones for further exploration and sampling. There have also been prior programs of RAB drilling, aircore drilling and soil sampling, by earlier explorers of the area, the results from which support the definition of these anomalous zones. The full results from all 534 rock samples to date are shown below in Figure 14.
11
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
The best results are from an area, now known as Corner Creek, where a number of anomalous surface assay values (up to 2.9g/t Au) cluster in a distinct scree-covered area, adjacent to mafic meta-basalt and an interpreted fault zone, near the central corner of the lease. The prevalence of higher gold values in rock and soil values in areas of mafic colluvium suggests that concealed mineralisation may lie below the blanket of scree surrounding the Cagacaroon Hills meta-basalt outcrop area, especially immediately to the north of the rocky outcrop area.
==> picture [441 x 361] intentionally omitted <==
Figure 14: Plan showing the geology and all rock sample results to date, in E59/1657.
It is anticipated that the next stage of work at the Deflector Extended Gold Project will comprise a shallow, vertical aircore drilling program of lines of holes within this anomalous area. Commencement of the heritage survey process, with archaeological and ethnographic surveys over the proposed drilling areas will be in 2018, along with the collection of further surface rock and soil samples, with a view to further pin pointing the most anomalous areas for subsequent drilling. This work will concentrate on the defined anomalous zones, but also include some further reconnaissance work elsewhere in the Deflector Extended Gold Project.
Heemskirk Tin Project
The Heemskirk Tin Project lies in exploration licence EL18/2011, on the west coast of Tasmania. MinRex has now held its Heemskirk Tin Project since 2012 and has been successful in identifying a number of the old tin workings, dating from the 1870’s-1880’s, and has collected a total of 129 stream sediment concentrate samples, 99 rock chip samples and 78 soil samples, for a total of 306 samples (Figure 15), in a search for large low-grade, or smaller, high to medium-grade tin deposits
12
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
The Extension of Term Application, to Mineral Resources Tasmania, seeking a one year extension to this licence was granted on the 30 April 2018 and thereby extends the term of EL18/2011 to the 2[nd] April 2019.
==> picture [325 x 391] intentionally omitted <==
Figure 15: Plan of all Panned-Concentrate Stream Sediment Assay Values from Heemskirk
Work on collating all of the exploration results to date has been completed and plans made for the next stage of exploration, a new field program is expected to commence, later in 2018 or early in 2019. This new program is likely to include extending the stream sediment concentrate sampling into the north-western portion of the project area.
MinRex Tenement List
| Region | Project | Tenement | Area | Grant | Expiry | MinRex |
|---|---|---|---|---|---|---|
| approx. | Date | Date | Interest | |||
| East Pilbara East Pilbara East Pilbara East Pilbara East Pilbara |
Daltons Bamboo Creek Bamboo Creek Marble Bar South Marble Bar North |
E45/4681 E45/4560 E45/4853 P45/3039 P45/3040 |
9 km2 69 km2 6 km2 8.26 ha 3.03 ha |
13-07-17 27-10-17 11-10-17 02-07-18 02-07-18 |
12-07-22 26-10-22 10-10-22 01-07-22 01-07-22 |
70% 70% 70% 70% 70% |
| Murchison | Deflector Extended | E59/1657 | 15 km2 | 12-07-11 | 11-07-21 | 100% |
| Tasmania | Heemskirk | EL18/2011 | 9 km2 | 03-04-11 | 02-04-19 | 100% |
Table 1: Current listing of the Tenement holdings of MinRex Resources Ltd
13
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
Corporate
As at 30 June 2018, the Company had available cash of $1.540 million.
For further information, please contact:
Simon Durack Executive Director MinRex Resources Limited T: +61 8 9486 8806 F: +61 8 9321 3559 [email protected]
Competent Persons Statement:
The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Kieron Munro, a Competent Person who is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 Munro is employed as an independent geological consultant by MinRex and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
14
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
Appendix 1 – Marble Bar North Project - May 2018 Rock Sample Assay Results
| Sample | Easting | Northing | Au | Ag | As | Cr | Pb | Cu | Ni | Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| No. | m | m | ppm | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
| MNR001 | 786383 | 7657702 | 0.18 | 0.0 | 11 | 15 | 3 | 23 | 10 | 6 |
| MNR002 | 786383 | 7657702 | 3.10 | 0.4 | 123 | 635 | 67 | 1550 | 645 | 127 |
| MNR003 | 786371 | 7657629 | 0.28 | 0.0 | 16 | 30 | 3 | 15 | 30 | 6 |
| MNR004 | 786371 | 7657629 | 5.26 | 0.3 | 26 | 30 | 8 | 49 | 42 | 6 |
| MNR005 | 786371 | 7657629 | 24.60 | 1.9 | 165 | 20 | 18 | 23 | 73 | 4 |
| MNR006 | 786369 | 7657633 | 0.87 | 0.1 | 13 | 15 | 2 | 2 | 19 | 2 |
| MNR007 | 786369 | 7657633 | 18.10 | 0.4 | 46 | 95 | 9 | 122 | 106 | 31 |
| MNR008 | 786375 | 7657611 | 10.50 | 0.3 | 14 | 100 | 5 | 114 | 57 | 12 |
| MNR009 | 786375 | 7657611 | 7.54 | 0.3 | 77 | 50 | 4 | 651 | 149 | 8 |
| MNR010 | 786375 | 7657611 | 3.94 | 0.8 | 47 | 80 | 5 | 1840 | 278 | 16 |
| MNR011 | 786376 | 7657598 | 1.27 | 0.5 | 27.8 | 240 | 5 | 220 | 170 | 13 |
| MNR012 | 786376 | 7657598 | 0.97 | 0.3 | 60.2 | 55 | 2 | 2250 | 478 | 17 |
| MNR013 | 786359 | 7657697 | 8.96 | 0.3 | 40.2 | 15 | 10 | 16 | 17 | 4 |
| MNR014 | 786359 | 7657697 | 16.80 | 4.0 | 206 | 95 | 3310 | 172 | 88 | 1050 |
| MNR015 | 786358 | 7657541 | 0.22 | 0.1 | 5 | 185 | 11 | 41 | 93 | 18 |
| MNR016 | 786372 | 7657544 | 0.23 | 0.1 | 8.8 | 100 | 8 | 29 | 42 | 6 |
| MNR017 | 786372 | 7657544 | 0.11 | 0.0 | 10.2 | 985 | 3 | 116 | 452 | 63 |
| MNR018 | 786354 | 7657538 | 15.90 | 0.8 | 20 | 475 | 22 | 230 | 314 | 28 |
| MNR019 | 786375 | 7657532 | 2.29 | 0.1 | 9 | 60 | 26 | 91 | 49 | 18 |
| MNR020 | 786375 | 7657532 | 0.06 | 0.0 | 3.4 | 120 | 2 | 19 | 45 | 10 |
| MNR021 | 786292 | 7657487 | 0.02 | 0.0 | 2.2 | 40 | 0 | 1 | 18 | 4 |
| MNR022 | 786296 | 7657497 | 0.02 | 0.0 | 1.8 | 15 | 0 | 2 | 9 | 2 |
| MNR023 | 786348 | 7557457 | 0.12 | 0.0 | 9.4 | 20 | 0 | 4 | 18 | 6 |
| MNR024 | 786348 | 7657456 | 0.01 | 0.0 | 30.4 | 570 | 6 | 81 | 512 | 106 |
| MNR025 | 786371 | 7657466 | 1.34 | 0.3 | 42.8 | 100 | 17 | 231 | 102 | 13 |
| MNR026 | 786371 | 7657466 | 3.58 | 1.0 | 83.8 | 135 | 16 | 485 | 170 | 37 |
| MNR027 | 786375 | 7657479 | 0.06 | 0.1 | 15.2 | 130 | 0 | 66 | 73 | 12 |
| MNR028 | 786387 | 7657501 | 0.35 | 0.0 | 5.8 | 55 | 2 | 16 | 22 | 7 |
| MNR029 | 786387 | 7657501 | 0.06 | 0.0 | 16.2 | 225 | 6 | 122 | 118 | 28 |
| MNR030 | 786381 | 7657532 | 42.90 | 2.4 | 22.4 | 80 | 6 | 130 | 93 | 6 |
| MNR031 | 786382 | 7657520 | 0.03 | 0.0 | 1.6 | 60 | 0 | 9 | 14 | 4 |
| MNR032 | 786382 | 7657520 | 0.04 | 0.0 | 1.8 | 60 | 0 | 5 | 19 | 5 |
| MNR033 | 786382 | 7657516 | 0.03 | 0.0 | 7 | 315 | 2 | 11 | 101 | 19 |
| MNR034 | 786382 | 7657516 | 0.03 | 0.0 | 15.2 | 70 | 2 | 22 | 42 | 12 |
| MNR035 | 786382 | 7657516 | 0.01 | 0.0 | 2.8 | 60 | 0 | 2 | 27 | 14 |
| MNR036 | 786354 | 7657670 | 0.06 | 0.0 | 42 | 25 | 7 | 12 | 22 | 5 |
| MNR037 | 786354 | 7657670 | 0.44 | 0.0 | 19.6 | 20 | 2 | 6 | 17 | 8 |
| MNR038 | 786359 | 7657700 | 22.80 | 0.4 | 297 | 35 | 5 | 22 | 72 | 9 |
| MNR039 | 786383 | 7657737 | 1.40 | 0.1 | 8.2 | 35 | 0 | 18 | 26 | 6 |
| MNR040 | 786383 | 7657737 | 0.05 | 0.0 | 5.6 | 25 | 2 | 7 | 39 | 7 |
15
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
Appendix 2 – Marble Bar South Project - May 2018 Rock Sample Assay Results
| Sample | Easting | Northing | Au | Ag | As | Cr | Pb | Cu | Ni | Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| No. | m | m | ppm | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
| MSR011 | 783818 | 7648193 | 1.8 | 0.5 | 177 | 305 | 22 | 74 | 99 | 21 |
| MSR012 | 783818 | 7648193 | 0.6 | 1.1 | 56 | 30 | 5 | 152 | 30 | 7 |
| MSR013 | 783802 | 7648145 | 2.7 | 0.2 | 72 | 605 | 3 | 16 | 258 | 21 |
| MSR014 | 783802 | 7648145 | 0.2 | 0.0 | 58 | 345 | 0 | 26 | 123 | 15 |
| MSR015 | 783791 | 7648148 | 5.0 | 0.3 | 59 | 200 | 1 | 35 | 74 | 24 |
| MSR016 | 783789 | 7648151 | 45.9 | 2.1 | 777 | 230 | 511 | 540 | 232 | 132 |
| MSR017 | 783785 | 7648153 | 0.0 | 0.0 | 17 | 95 | 3 | 3 | 23 | 13 |
| MSR018 | 783790 | 7648139 | 0.2 | 0.0 | 12 | 25 | 3 | 8 | 11 | 4 |
| MSR019 | 783788 | 7648095 | 0.6 | 0.2 | 144 | 270 | 2 | 102 | 109 | 26 |
| MSR020 | 783788 | 7648095 | 1.3 | 0.3 | 396 | 950 | 6 | 85 | 378 | 91 |
| MSR021 | 783791 | 7648092 | 10.7 | 0.5 | 44 | 145 | 1 | 37 | 60 | 20 |
| MSR022 | 783788 | 7648099 | 0.1 | 0.0 | 21 | 350 | 0 | 14 | 145 | 10 |
| MSR023 | 783788 | 7648099 | 0.2 | 0.0 | 103 | 1940 | 2 | 64 | 722 | 59 |
| MSR024 | 783788 | 7648099 | 0.1 | 0.0 | 90 | 740 | 0 | 91 | 284 | 77 |
| MSR025 | 783855 | 7648097 | 0.0 | 0.0 | 11 | 45 | 0 | 2 | 29 | 24 |
| MSR026 | 783848 | 7648098 | 0.0 | 0.0 | 3 | 440 | 2 | 28 | 199 | 40 |
| MSR027 | 783788 | 7648088 | 0.0 | 0.0 | 11 | 55 | 0 | 2 | 22 | 10 |
| MSR028 | 783804 | 7648079 | 0.6 | 0.0 | 34 | 155 | 0 | 7 | 61 | 14 |
| MSR029 | 783805 | 7648081 | 1.2 | 0.2 | 93 | 640 | 3 | 31 | 253 | 50 |
| MSR030 | 783796 | 7648079 | 5.4 | 0.1 | 113 | 300 | 1 | 8 | 134 | 33 |
| MSR031 | 783786 | 7648073 | 0.2 | 0.0 | 20 | 90 | 0 | 6 | 30 | 9 |
| MSR032 | 783778 | 7648068 | 0.1 | 0.0 | 73 | 255 | 2 | 11 | 167 | 36 |
| MSR033 | 783778 | 7648066 | 0.2 | 0.0 | 11 | 115 | 0 | 4 | 51 | 17 |
| MSR034 | 783778 | 7648067 | 1.4 | 0.2 | 76 | 855 | 2 | 36 | 289 | 69 |
| MSR035 | 783777 | 7648067 | 47.6 | 2.0 | 9 | 50 | 0 | 36 | 23 | 14 |
| MSR036 | 783766 | 7648078 | 30.8 | 1.6 | 56 | 85 | 1 | 39 | 54 | 15 |
| MSR037 | 783767 | 7648078 | 0.4 | 0.1 | 23 | 135 | 0 | 3 | 40 | 13 |
| MSR038 | 783768 | 7648078 | 0.1 | 0.0 | 37 | 115 | 0 | 2 | 74 | 38 |
| MSR039 | 783899 | 7648027 | 0.0 | 0.0 | 0 | 15 | 1 | 18 | 54 | 16 |
| MSR040 | 783870 | 7647997 | 0.0 | 0.0 | 1 | 5 | 1 | 12 | 52 | 12 |
| MSR041 | 783768 | 7648067 | 3.2 | 0.1 | 10 | 45 | 0 | 8 | 20 | 8 |
| MSR042 | 783768 | 7648067 | 1.7 | 0.2 | 131 | 575 | 6 | 58 | 129 | 27 |
| MSR043 | 783764 | 7648066 | 4.0 | 0.2 | 7 | 60 | 2 | 4 | 35 | 12 |
| MSR044 | 783762 | 7648071 | 0.0 | 0.0 | 5 | 30 | 2 | 9 | 22 | 15 |
| MSR045 | 783763 | 7648059 | 0.1 | 0.0 | 19 | 175 | 1 | 25 | 103 | 24 |
| MSR046 | 783719 | 7648015 | 0.0 | 0.0 | 6 | 45 | 0 | 18 | 17 | 4 |
| MSR047 | 783777 | 7648049 | 0.0 | 0.0 | 12 | 20 | 0 | 13 | 31 | 15 |
| MSR048 | 783796 | 7648048 | 0.0 | 0.0 | 2 | 20 | 0 | 2 | 11 | 0 |
| MSR049 | 783802 | 7648051 | 0.1 | 0.1 | 51 | 55 | 1 | 4 | 24 | 4 |
| MSR050 | 783779 | 7648064 | 0.1 | 0.0 | 24 | 140 | 0 | 6 | 71 | 16 |
16
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
Appendix 3 – Daltons Project - May 2018 Rock Sample Assay Results
| Sample | Easting | Northing | Au | Ag | As | Cr | Pb | Cu | Ni | Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| No. | m | m | ppm | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
| DAR001 | 734304 | 7624815 | 0.02 | 0.15 | 2 | 65 | 1 | 356 | 29 | 37 |
| DAR002 | 734306 | 7624815 | 0.05 | 0.1 | 2.6 | 90 | 2 | 328 | 44 | 38 |
| DAR003 | 734305 | 7624815 | 0.02 | 0.05 | 1.6 | 80 | 1 | 405 | 30 | 38 |
| DAR004 | 734304 | 7624815 | 0.05 | 0.1 | 2.4 | 70 | 1 | 233 | 43 | 29 |
| DAR005 | 734304 | 7624815 | 0.05 | 0.05 | 3.4 | 120 | 0 | 168 | 64 | 63 |
| DAR006 | 734303 | 7624815 | 0.05 | 0.6 | 4.4 | 170 | 2 | 249 | 78 | 73 |
| DAR007 | 734302 | 7624815 | 0.11 | 0.0 | 3.8 | 140 | 2 | 152 | 61 | 75 |
| DAR008 | 734299 | 7624807 | 11.2 | 4.45 | 12.6 | 110 | 2 | 15400 | 16 | 26 |
| DAR009 | 734299 | 7624808 | 2.09 | 10.4 | 8 | 35 | 5 | 28500 | 44 | 52 |
| DAR010 | 734299 | 7624809 | 0.00 | 0.0 | 74.2 | 150 | 1 | 109 | 151 | 162 |
| DAR011 | 734312 | 7624804 | 140.0 | 26.6 | 9.6 | 65 | 2 | 81700 | 16 | 44 |
| DAR012 | 734316 | 7624798 | 0.04 | 0.15 | 19 | 75 | 0 | 285 | 48 | 53 |
| DAR013 | 734316 | 7624797 | 0.10 | 0.35 | 12.4 | 65 | 1 | 233 | 138 | 329 |
| DAR014 | 734320 | 7624794 | 2.66 | 0.2 | 7.2 | 20 | 1 | 264 | 23 | 159 |
| DAR015 | 734321 | 7624785 | 0.03 | 0.0 | 16 | 40 | 0 | 127 | 161 | 633 |
| DAR016 | 734335 | 7624764 | 0.01 | 0.0 | 6.6 | 15 | 0 | 5 | 2 | 6 |
| DAR017 | 734337 | 7624739 | 0.62 | 0.05 | 9.2 | 110 | 0 | 55 | 47 | 15 |
| DAR018 | 734376 | 7624652 | 0.02 | 0.0 | 8.4 | 15 | 3 | 182 | 88 | 1160 |
| DAR019 | 734374 | 7624656 | 0.20 | 0.0 | 8.4 | 15 | 1 | 84 | 92 | 98 |
| DAR020 | 734408 | 7624568 | 1.10 | 0.1 | 23.6 | 65 | 2 | 147 | 138 | 120 |
| DAR021 | 734413 | 7624559 | 0.22 | 0.0 | 6.6 | 30 | 2 | 1740 | 129 | 66 |
| DAR022 | 734463 | 7624498 | 0.01 | 0.0 | 6 | 125 | 1 | 104 | 152 | 115 |
| DAR023 | 734471 | 7624495 | 0.03 | 0.0 | 2.4 | 115 | 2 | 82 | 112 | 155 |
| DAR024 | 734473 | 7624493 | 0.02 | 0.0 | 5.6 | 180 | 3 | 146 | 188 | 160 |
| DAR025 | 734468 | 7624474 | 0.45 | 0.2 | 18.6 | 40 | 1 | 18600 | 230 | 241 |
| DAR026 | 734468 | 7624472 | 2.94 | 0.5 | 14.2 | 40 | 0 | 17400 | 229 | 77 |
| DAR027 | 734471 | 7624467 | 3.45 | 0.7 | 39.2 | 60 | 2 | 2740 | 222 | 1160 |
| DAR028 | 734469 | 7624470 | 4.32 | 0.8 | 39.4 | 45 | 1 | 27700 | 315 | 115 |
| DAR029 | 734464 | 7624417 | 0.00 | 0.0 | 7.2 | 75 | 0 | 134 | 225 | 103 |
| DAR030 | 734480 | 7624407 | 7.03 | 1.75 | 34.2 | 20 | 0 | 756 | 52 | 22 |
| DAR031 | 734494 | 7624393 | 0.81 | 0.2 | 46.6 | 105 | 0 | 42900 | 190 | 65 |
| DAR032 | 734488 | 7624404 | 0.04 | 0.15 | 5.8 | 60 | 0 | 405 | 163 | 127 |
| DAR033 | 734489 | 7624376 | 24.3 | 11.2 | 507 | 10 | 4 | 17500 | 483 | 47 |
| DAR034 | 734485 | 7624385 | 0.01 | 0.05 | 25.8 | 10 | 0 | 299 | 18 | 26 |
| DAR035 | 734488 | 7624411 | 0.92 | 0.15 | 8.4 | 50 | 0 | 163 | 31 | 20 |
| DAR036 | 734472 | 7624358 | 0.01 | 0.0 | 2.8 | 15 | 0 | 41 | 21 | 12 |
| DAR037 | 734469 | 7624357 | 0.01 | 0.0 | 14 | 60 | 0 | 218 | 122 | 115 |
| DAR038 | 734464 | 7624363 | 5.86 | 1.0 | 25.4 | 25 | 0 | 438 | 144 | 28 |
| DAR039 | 734481 | 7624384 | 0.01 | 0.0 | 9.6 | 10 | 0 | 55 | 29 | 21 |
| DAR040 | 734535 | 7624400 | 0.02 | 0.0 | 14.4 | 20 | 0 | 52 | 24 | 19 |
| DAR041 | 734527 | 7624409 | 0.00 | 0.0 | 21.8 | 30 | 0 | 45 | 50 | 57 |
| DAR042 | 734502 | 7624307 | 0.02 | 0.0 | 60.4 | 15 | 0 | 26 | 29 | 21 |
17
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
| Sample No. DAR043 DAR044 DAR045 DAR046 DAR047 DAR048 DAR049 DAR050 DAR051 DAR052 DAR053 DAR054 DAR055 DAR056 DAR057 DAR058 DAR059 DAR060 |
Easting | Northing | Au | Ag | As | Cr | Pb | Cu | Ni | Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| m | m | ppm | ppm | ppm | ppm | ppm | ppm | ppm | ppm | |
| 734498 | 7624311 | 0.02 | 0.0 | 76.6 | 20 | 0 | 88 | 85 | 49 | |
| 734501 | 7624274 | 0.01 | 0.0 | 13.6 | 15 | 0 | 17 | 19 | 12 | |
| 734586 | 7623995 | 0.05 | 0.0 | 12.8 | 15 | 0 | 213 | 18 | 24 | |
| 734527 | 7624018 | 0.02 | 0.0 | 5.8 | 20 | 0 | 69 | 11 | 19 | |
| 734494 | 7624047 | 0.00 | 0.0 | 1.2 | 5 | 0 | 3 | 36 | 43 | |
| 734530 | 7624068 | 0.00 | 0.0 | 5.6 | 10 | 0 | 166 | 52 | 54 | |
| 734413 | 7623706 | 0.00 | 0.0 | 44.6 | 15 | 0 | 66 | 160 | 207 | |
| 734360 | 7623595 | 13.3 | 0.6 | 94 | 25 | 1 | 387 | 39 | 158 | |
| 734724 | 7623370 | 62.4 | 6.25 | 31.8 | 10 | 0 | 4130 | 78 | 9 | |
| 734728 | 7623368 | 103.0 | 8.1 | 154 | 15 | 3 | 10400 | 216 | 348 | |
| 734731 | 7623368 | 12.4 | 1.0 | 25 | 20 | 0 | 4410 | 105 | 59 | |
| 734731 | 7623365 | 1.24 | 0.15 | 23.2 | 15 | 0 | 3810 | 66 | 112 | |
| 734727 | 7623363 | 25.1 | 2.25 | 25.2 | 15 | 0 | 1400 | 42 | 64 | |
| 734710 | 7623387 | 0.51 | 0.05 | 2.8 | 10 | 0 | 69 | 7 | 1 | |
| 734720 | 7623370 | 163.0 | 10.1 | 5.2 | 10 | 0 | 8500 | 40 | 52 | |
| 734725 | 7623373 | 3.62 | 0.55 | 22.2 | 10 | 0 | 428 | 22 | 54 | |
| 734784 | 7623043 | 0.03 | 0.0 | 18.4 | 10 | 0 | 210 | 28 | 27 | |
| 734787 | 7622755 | 0.05 | 0.0 | 0.8 | 10 | 0 | 3 | 0 | 1 |
Appendix 4 – Bamboo Creek Project - May 2018 Rock Sample Assay Results
| Sample | Easting | Northing | Au | Ag | As | Cr | Pb | Cu | Ni | Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| No. | m | m | ppm | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
| BBR001 | 200330 | 7687559 | 0.00 | 0.0 | 0.8 | 10 | 0 | 16 | 10 | 6 |
| BBR002 | 200268 | 7687460 | 0.00 | 0.1 | 5.4 | 15 | 114 | 32 | 16 | 7 |
| BBR003 | 200325 | 7687457 | 0.00 | 0.1 | 126 | 50 | 5 | 17 | 31 | 27 |
| BBR004 | 200323 | 7687457 | 0.00 | 0.0 | 70.2 | 90 | 3 | 88 | 111 | 45 |
| BBR005 | 200329 | 7687469 | 0.01 | 0.1 | 8.6 | 5 | 10 | 41 | 25 | 70 |
| BBR006 | 200330 | 7687465 | 0.01 | 0.0 | 37.4 | 30 | 0 | 53 | 45 | 29 |
| BBR007 | 200320 | 7687499 | 0.00 | 0.0 | 16.6 | 10 | 30 | 12 | 25 | 104 |
| BBR008 | 200171 | 7687306 | 0.00 | 0.0 | 4.4 | 25 | 0 | 11 | 14 | 11 |
| BBR009 | 200318 | 7687301 | 0.00 | 0.0 | 1.8 | 15 | 0 | 11 | 8 | 8 |
| BBR010 | 200336 | 7687300 | 0.00 | 0.0 | 1.2 | 30 | 2 | 18 | 16 | 16 |
| BBR011 | 200434 | 7687334 | 0.00 | 0.0 | 2.8 | 35 | 2 | 31 | 26 | 32 |
| BBR012 | 200557 | 7687278 | 0.00 | 0.1 | 10.4 | 35 | 2 | 79 | 38 | 27 |
| BBR013 | 200633 | 7687152 | 0.00 | 0.1 | 1.2 | 10 | 0 | 14 | 5 | 5 |
| BBR014 | 200684 | 7687040 | 0.00 | 0.0 | 0.8 | 10 | 1 | 5 | 1 | 4 |
| BBR015 | 200684 | 7687040 | 0.02 | 0.0 | 291 | 25 | 10 | 555 | 77 | 210 |
| BBR016 | 200631 | 7686994 | 0.00 | 0.1 | 2.2 | 30 | 0 | 16 | 20 | 7 |
18
MinRex Resources Limited – Quarterly Activities and Cash Flow Report for the Quarter ended 30 June 2018
| Sample | Easting | Northing | Au | Ag | As | Cr | Pb | Cu | Ni | Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| No. | m | m | ppm | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
| BBR017 | 200624 | 7687052 | 0.31 | 2.6 | 203 | 10 | 17 | 2160 | 31 | 66 |
| BBR018 | 200625 | 7687075 | 2.90 | 41.5 | 10 | 10 | 0 | 143000 | 15 | 12 |
| BBR019 | 200622 | 7687085 | 7.80 | 16.0 | 205 | 10 | 19 | 14600 | 14 | 191 |
| BBR020 | 200388 | 7687503 | 0.01 | 0.6 | 47 | 10 | 1 | 420 | 50 | 11 |
| BBR021 | 200367 | 7687517 | 0.01 | 0.1 | 436 | 20 | 2 | 319 | 114 | 273 |
| BBR022 | 197856 | 7684033 | 0.01 | 0.5 | 3.8 | 35 | 50 | 134 | 7 | 38 |
| BBR023 | 197903 | 7684172 | 0.03 | 0.3 | 5 | 170 | 50 | 213 | 53 | 110 |
| BBR024 | 197957 | 7684136 | 0.02 | 0.1 | 2 | 45 | 34 | 128 | 9 | 15 |
| BBR025 | 197932 | 7684105 | 0.01 | 0.3 | 1.2 | 200 | 140 | 367 | 60 | 71 |
| BBR026 | 197908 | 7684050 | 0.02 | 0.3 | 1 | 10 | 84 | 127 | 2 | 7 |
| BBR027 | 197903 | 7684030 | 0.02 | 0.1 | 1.2 | 10 | 130 | 240 | 2 | 11 |
| BBR028 | 197898 | 7684014 | 0.11 | 0.3 | 6 | 25 | 228 | 1790 | 3 | 61 |
| BBR029 | 197899 | 7684004 | 0.89 | 4.3 | 1.8 | 15 | 738 | 1630 | 2 | 37 |
| BBR030 | 197879 | 7683974 | 0.01 | 0.3 | 0.8 | 10 | 44 | 73 | 1 | 10 |
| BBR031 | 197820 | 7683747 | 0.04 | 0.6 | 1.6 | 100 | 199 | 236 | 13 | 74 |
| BBR032 | 197887 | 7683821 | 0.00 | 0.1 | 1 | 20 | 93 | 41 | 2 | 20 |
| BBR033 | 197826 | 7683836 | 0.04 | 2.5 | 0.8 | 5 | 177 | 203 | 3 | 8 |
| BBR034 | 207188 | 7676825 | 0.00 | 0.0 | 8 | 10 | 11 | 29 | 2 | 8 |
| BBR035 | 207179 | 7676817 | 0.00 | 0.3 | 19.2 | 10 | 207 | 26 | 1 | 3 |
| BBR036 | 207183 | 7676788 | 0.00 | 0.0 | 93.6 | 10 | 3 | 322 | 4 | 7 |
| BBR037 | 208494 | 7677016 | 0.00 | 0.0 | 1.6 | 1540 | 2 | 10 | 937 | 52 |
| BBR038 | 208495 | 7677005 | 0.00 | 0.0 | 3.2 | 1640 | 0 | 7 | 457 | 39 |
| BBR039 | 208519 | 7676946 | 0.00 | 0.0 | 1.6 | 20 | 1 | 2 | 51 | 21 |
| BBR040 | 208552 | 7676941 | 0.00 | 0.0 | 40.4 | 1630 | 1 | 7 | 910 | 42 |
| BBR041 | 208577 | 7676939 | 0.00 | 0.0 | 3 | 1780 | 2 | 6 | 1070 | 16 |
| BBR042 | 208650 | 7676900 | 0.00 | 0.0 | 0.8 | 1440 | 0 | 4 | 852 | 20 |
| BBR043 | 208601 | 7676810 | 0.00 | 0.0 | 4.4 | 1720 | 7 | 9 | 581 | 16 |
| BBR044 | 208553 | 7676863 | 0.00 | 0.0 | 5.2 | 560 | 1 | 79 | 614 | 75 |
| BBR045 | 208499 | 7676879 | 0.00 | 0.0 | 1.8 | 1430 | 0 | 10 | 770 | 41 |
| BBR046 | 207953 | 7676948 | 0.00 | 0.1 | 10.2 | 25 | 12 | 8 | 12 | 8 |
| BBR047 | 207946 | 7676951 | 1.05 | 1.1 | 662 | 20 | 1170 | 344 | 13 | 913 |
| BBR048 | 207893 | 7677202 | 0.00 | 0.0 | 4.2 | 10 | 6 | 5 | 2 | 5 |
| BBR049 | 197830 | 7683841 | 0.10 | 9.3 | 3.4 | 10 | 1040 | 965 | 4 | 10 |
| BBR050 | 197838 | 7683855 | 0.01 | 1.1 | 1.2 | 10 | 148 | 2970 | 4 | 21 |
19
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
+Rule 5.5
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16
Name of entity
MINREX RESOURCES LIMITED and its Controlled Entities
ABN Quarter ended (“current quarter”) 81 151 185 867 30 June 2018
| Consolidated statement of cash flows | Current quarter $A’000 |
Year to date (12 months) $A’000 |
|---|---|---|
| 1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Research and development refunds 1.8 Other (provide details if material) 1.9 Net cash from / (used in) operating activities |
- (130) - - - (244) - - - - - |
- (236) - - (19) (845) - 8 - - - |
| (374) | (1,092) | |
| 2. Cash flows from investing activities 2.1 Payments to acquire: (a) property, plant and equipment (b) tenements (see item 10) (c) investments (d) other non-current assets |
- - - - |
- - - - |
- See chapter 19 for defined terms 1 September 2016
Page 1
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| Consolidated statement of cash flows | Current quarter $A’000 |
Year to date (12 months) $A’000 |
|---|---|---|
| 2.2 Proceeds from the disposal of: (a) property, plant and equipment (b) tenements (see item 10) (c) investments (d) other non-current assets 2.3 Cash flows from loans to other entities 2.4 Dividends received (see note 3) 2.5 Other – Acquisition of subsidiaries 2.6 Net cash from / (used in) investing activities |
- - - - - - - |
- - - - - - (879) |
| - | (879) | |
| 3. Cash flows from financing activities 3.1 Proceeds from issues of shares 3.2 Proceeds from issue of convertible notes 3.3 Proceeds from exercise of share options 3.4 Transaction costs related to issues of shares, convertible notes or options 3.5 Proceeds from borrowings 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other (provide details if material) 3.10 Net cash from / (used in) financing activities |
- - - - - - - - - |
2,444 - - (63) - - - - - |
| - | 2,381 | |
| 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 4.4 Net cash from / (used in) financing activities (item 3.10 above) 4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period |
1,914 (374) - - - |
1,130 (1,092) (879) 2,381 - |
| 1,540 | 1,540 |
- See chapter 19 for defined terms 1 September 2016
Page 2
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts |
Current quarter $A’000 |
Previous quarter $A’000 |
|---|---|---|
| 5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) |
1,540 - - - |
1,914 - - - |
| 1,540 | 1,914 | |
| 6. Payments to directors of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to these parties included in item 1.2 55 6.2 Aggregate amount of cash flow from loans to these parties included in item 2.3 - 6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2 |
||
| Current quarter $A'000 |
||
| 55 | ||
| - | ||
| - | ||
| 7. Payments to related entities of the entity and their associates Current quarter $A'000 7.1 Aggregate amount of payments to these parties included in item 1.2 - 7.2 Aggregate amount of cash flow from loans to these parties included in item 2.3 - 7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2 |
||
| Current quarter $A'000 |
||
| - | ||
| - | ||
| - |
- See chapter 19 for defined terms 1 September 2016
Page 3
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
| 8. Financing facilities available Add notes as necessary for an understanding of the position Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 8.1 Loan facilities - - 8.2 Credit standby arrangements - - 8.3 Other (please specify) - - 8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well. |
Total facility amount at quarter end $A’000 |
Amount drawn at quarter end $A’000 |
|
|---|---|---|---|
| - | - | ||
| - | - | ||
| - | - | ||
| 9. Estimated cash outflows for next quarter |
$A’000 |
|---|---|
| 9.1 Exploration and evaluation 9.2 Development 9.3 Production 9.4 Staff costs 9.5 Administration and corporate costs 9.6 Other (provide details if material) 9.7 Total estimated cash outflows |
120 - - - 200 - |
| 320 |
| 10. Changes in tenements (items 2.1(b) and 2.2(b) above) |
Tenement reference and location |
Nature of interest |
Interest at beginnin g of quarter |
Interest at end of quarter |
|---|---|---|---|---|
| 10.1 Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced |
||||
| 10.2 Interests in mining tenements and petroleum tenements acquired or increased |
- See chapter 19 for defined terms 1 September 2016
Page 4
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Compliance statement
-
1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
-
2 This statement gives a true and fair view of the matters disclosed.
Sign here: ............................................... Date: 19 July 2018 (Director) Print name: SIMON DURACK
Notes
-
The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
-
If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
-
Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
-
See chapter 19 for defined terms 1 September 2016
Page 5