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MINREX RESOURCES LIMITED — Regulatory Filings 2021
Mar 25, 2021
65375_rns_2021-03-25_3e43b410-b81f-45dc-a7ea-eb7667e2480f.pdf
Regulatory Filings
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26 MARCH 2021
ASX RELEASE
MINREX ON GROUND IN PREPARATION FOR DRILLING
Fieldwork commences at Sofala gold project to prepare follow-up drilling of exceptional soil anomalies.
HIGHLIGHTS
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n MinRex on ground at Wiles, Big Oakey and Surface Hill Prospects to prepare for an RC drill campaign beginning May 2021
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n Drilling at Wiles to follow up on exceptional soil sample and recent shallow RC drill results:
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Soil sampling assays - 9.26g/t Au , 4 .28g/t Au , 4.01g/t Au
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RC drilling - [email protected]/t Au from 17m (WFRC005), [email protected]/t Au from 6m (WFRC004)
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n Land access agreements being negotiated for drilling at the high-grade Queenslander gold mine and newly discovered gold prospect Hill X
MinRex Resources Limited (ASX: MRR) (“ MinRex ” or “ the Company ”) is pleased to announce it is currently conducting field operations on the Sofala gold project on the Lachlan Fold Belt, NSW.
Field Operations at Sofala
MinRex Chief Operating Officer Stuart Till and a field team have arrived at the Sofala Project to undertake reconnaissance to prepare for an RC drilling campaign at the Wiles Prospect to follow-up recent exceptional soil sampling and shallow RC drilling success. The field team is also completing reconnaissance exploration at Big Oakey ( [email protected]/t Au ) and Surface Hill ( [email protected]/t Au ). Refer to ASX Announcement of 26 February 2021 titled “Sofala Exploration Update” for further details.
Wiles Prospect Drilling Campaign
MinRex is planning a program of up to 3,000m of infill RC drilling to further define the prospectivity of the Wiles prospect (regulator approval pending). Drilling is scheduled to commence in May 2021.
The Company will deploy the Strike Drilling X350 AC/RC Drill Rig it secured for a 12 month period via the strategic co-operation agreement with NSW exploration company Argent Minerals Limited in December 2020.
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Figure 1 – MinRex completing drilling rehabilitation at Wiles Prospect
MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email [email protected] Level 11 216 St Georges Terrace Perth WA 6000 www.MinRex.com.au
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About the Wiles Prospect
The Wiles Prospect is a recently discovered orogenic gold deposit on strike of the Big Oakey Fault between Whalans Hill ( [email protected]/t Au ) and Caledonian ( [email protected]/t Au ). The prospect was discovered by jointventure partner Wattle Resources Pty Ltd.
A soil sampling campaign of the previously unexplored ground was conducted by Wattle producing exceptional results (samples returned 9.26g/t Au , 4.01g/t Au and 4.28g/t Au ) . This prospectivity was confirmed by shallow RC drilling in late 2020 with results returning [email protected]/t Au from 17m (WFRC005) and [email protected]/t Au from 6m (WFRC004) . Refer to Figures 2 to 5 below and ASX Announcement of 26 February 2021 titled “Sofala Exploration Update” for further details.
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Figure 2 – Sofala Project Map
MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email [email protected] Level 11 216 St Georges Terrace Perth WA 6000 www.MinRex.com.au
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Zone 55S E 7518 N 6332
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Figure 3 – Wiles Prospect RC Drilling and Soil Sampling Refer to ASX Announcement on 26 February 2021 titled “Sofala Exploration Update” for further details.
Land Access Negotiations
MinRex is also conducting land access negotiations with property owners at the Sofala Project’s Queenslander and Hill X Prospects. Access arrangements are being progressed to support further RC drilling at these Prospects in the July / August period.
About Queenslander
Queenslander is a high grade orogenic gold deposit located on the EL7423 tenement. The deposit was a substantial operating gold mine in the late 19[th] century.
The Prospect contains a historic gold resource that requires additional exploration to be made JORC (2012) compliant. Diamond drilling completed by RGC Exploration produced significant intercepts high grade intercepts including [email protected]/t Au from 215m .. Refer to Figure 2 Above and ASX Announcement of 25 November 2020 titled “Investor Presentation” for further details.
About Hill X
Hill X is a gold prospect recently discovered by MinRex’s JV partner Wattle ( 0.62g/t Au, 1.3g/t Au ). Refer to Figure 2 above, Figure 4 below and ASX Announcement of 26 February 2021 titled “Sofala Exploration Update” for further details.
MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email [email protected] Level 11 216 St Georges Terrace Perth WA 6000 www.MinRex.com.au
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Figure 4 – Wiles & Hill X Prospect Soil Sampling
MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email [email protected] Level 11 216 St Georges Terrace Perth WA 6000 www.MinRex.com.au
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Figure 5 – Wiles Prospect September 2020 RC Drilling (Cross-Section)
This ASX announcement has been authorised for release by the Board of MinRex Resources Limited.
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For further information, please contact:
James Bahen Non-Executive Director MinRex Resources Limited T: +61 8 9481 0389 [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 Stuart Till, 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 Till 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.
MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email [email protected] Level 11 216 St Georges Terrace Perth WA 6000 www.MinRex.com.au