RareX (ASX:REE) - Managing Director, Jeremy Robinson
Managing Director, Jeremy Robinson
Source: 121 Mining Investment Events
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  • RareX (REE) has identified encouraging mineralised intervals at the Trundle Copper-Gold Project in NSW
  • The latest hole drilled, TRDD012, has intersected the best bornite and chalcopyrite seen at the project to date
  • This hole was designed to intersect the down-dip extension of previous high-grade, near-surface intervals and better understand the width potential of the skarn horizons
  • It was planned to be drilled to a depth of 400 metres, however, it ended at 581 metres due to the mineralisation intersected
  • High priority intervals have now been submitted for analysis
  • RareX is up an even 10 per cent on the market with shares trading at 11 cents

RareX (REE) has identified encouraging mineralised intervals at the Trundle Copper-Gold Project in NSW.

The Trundle Project is held in a joint venture with TSX-listed Kincora Copper, with RareX holding 65 per cent and Kincora owning the remaining 35 per cent stake.

Promisingly, the latest hole drilled, TRDD012, has intersected the best bornite and chalcopyrite seen at the project to date.

It was originally planned to be drilled to a depth of 400 metres, however, it ended at 581 metres due to the extension of skarn alteration and mineralisation intersected.

Hole TRDD012 followed on from TRDD011 which intersected intense structurally controlled mineralisation within near-surface skarn alteration.

Additionally, TRDD012 was designed to intersect the down-dip extension of previous high-grade, near surface intervals and to better understand the width potential of the skarn horizons.

“The latest drill hole at the Trundle Park prospect, TRDD012, was targeted to make a deeper intersection of the structurally controlled covellite-pyrite-chalcocite massive sulphide mineralisation intersected at shallow depth in hole TRDD011,” Technical Committee chair John Holliday and Senior VP of Exploration Peter Leaman commented.

“TRDD012 looks particularly positive as our site geologists report it has intersected the best observed primary bornite and chalcopyrite zones to date at the Trundle Project,” they said.

“The zones are coincident with magnetite, with some intervals also hosting covellite and chalcocite,” they added.

Now, high priority intervals from TRDD011 and TRDD012 have been submitted for analysis.

A second rig is expected to be operational early next year to aid in expanding the alteration and mineralised footprints.

RareX is up an even 10 per cent on the market with shares trading at 11 cents at 11:35 am AEDT.

REE by the numbers
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