- MinRex Resources (MRR) is set to kick off fresh exploration work in Western Australia after landing approvals for a maiden drilling program over its key assets in East Pilbara
- The Department of Mines, Industry Regulation and Safety has approved a program of works for drilling over five project areas
- MinRex has signed a 12-month drilling contract with Foraco Australia, which will mobilise a drill rig in late June, with a second one to follow in July
- Over the next 12 months, MinRex is targeting 25,000 metres of drilling
- MRR shares jumped 7.69 per cent on the market today, trading at 5.6 cents per share at 1:01 pm AEST
MinRex Resources (MRR) is set to kick off fresh exploration work in Western Australia after landing approvals for a maiden drilling program over its key assets in East Pilbara.
The company is now gearing up to undertake field and drilling programs over its Eastern Pilbara and Marble Bar lithium-tin-tantalum project areas.
The Department of Mines, Industry Regulation and Safety has approved a program of works for drilling over five project areas which include Coondina, South Coondina, Shaw River, Tambourah North and Haystack Well.
MinRex has signed a 12-month drilling contract with Foraco Australia, which will mobilise a drill rig in late June, with a second one to follow in July.
Over the next 12 months, MinRex is targeting 25,000 metres of drilling.
The company said it was well funded for the upcoming drilling programs, with around $11.3 million in the bank and an additional $6.8 million to settle on June 1 following a recent share placement.
Additionally, the company has signed a native title heritage survey with Nyamal Corporation over the Marble Bar projects. The Nyamal heritage survey will commence next month.
“We are pleased to have the stakeholders, cash, team, projects and now approvals in place to fast-track drilling over our key lithium assets in the eastern Pilbara battery metals hot spot,” Managing Director George Karageorge said.
MRR shares jumped 7.69 per cent on the market today, trading at 5.6 cents per share at 1:01 pm AEST.