RC drilling at Tambourah North project with Directors Mr Karageorge and Mr Shackleton. Source: MinRex Resources
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Maiden reverse circulation (RC) drilling was a highlight for MinRex Resources (MRR) over the three months to December 31, 2022
  • The company drilled nine RC holes for 1159 metres over its Western Australian Tambourah North project in December last year
  • MinRex also completed a first-pass RC drill program over the nearby Talga project
  • MinRex’s RC drilling production totalled 3984 metres for the quarter, with the company aiming to continue its “aggressive” push in 2023
  • MRR shares ended Wednesday afternoon in the green by 8.82 per cent, trading at 3.7 cents

MinRex Resources (MRR) vows to continue its “aggressive” exploration program in 2023 following the completion of maiden reverse circulation (RC) drilling at the Tambourah North project during the December quarter.

The company completed nine RC drill holes for 1159 metres over the WA lithium project in December last year, bearing “trying conditions”.

MinRex drill tested the Zone 1 area’s surface-rich pegmatites hosted within the Apex Basalt. Exploration results announced in April last year from drill hole MRR028 indicated 2.56 per cent lithium oxide, 1.59 per cent lithium, 1.293 parts per million rubidium and 40 parts per million tantalum.

The December quarter was also highlighted by the completion of a first-pass RC drill program over the Talga project, also in WA.

The program included 39 RC holes for a total of 2825 metres. Drilling targeted highly anomalous lithium assays from soil samples containing up to 477 parts per million lithium oxide, dating back to 2017.

MinRex’s RC drilling production totalled 3984 metres for the three months to December 31, 2022.

“The quarter yielded a major drilling milestone for MinRex achieving just shy of 4000 metres,” MinRex Resources Managing Director George Karageorge said.

Mr Karageorge said the company aimed to continue its “aggressive” push in 2023.

“MinRex will maintain an aggressive exploration program in 2023 and is currently reviewing multiple opportunities for potential lithium partnering and acquisitions on a Western Australian and global platform thanks to our highly lucrative cash position of over $13 million.”

MRR shares ended Wednesday afternoon in the green by 8.82 per cent, trading at 3.7 cents.

MRR by the numbers
More From The Market Online
Crosse section of the earth

Earths Energy confirms Paralana as an Enhanced Geothermal Systems Program project

Earths Energy Ltd has completed preliminary work on its Techno Economic Feasibility study for the Paralana…
India Europe trade concept

Evion Group to ink first $2M from sales of expandable graphite to Europe

Evion Group has confirmed it's set to receive around A$2M in payments to its India-based JV…
The Market Online Video

ASX Market Open: Local bourse to rise as US voting underway | 6 Nov 2024

Greetings and welcome to the midway point of this US election heavy week. You're listening to…
AI image of copper mineralisation

Bastion picks up historic samples grading up to 9.88% Cu from ICE Copper project in Canada

Bastion Minerals Ltd has been carrying out sampling work on historic drill core at its ICE…