- Rare earths explorer RareX (REE) has intersected high-grade gold-copper mineralisation in the first hole at the Trundle Gold-Copper Project in NSW
- Results from this program peaked at 4.32 grammes per tonne gold and 2.43 per cent copper
- RareX is now waiting for results at the Mordialloc target, which are expected in two weeks
- Follow-up drilling at this target is expected to begin in July
- RareX is up 5.88 per cent on the market and shares are trading for nine cents each
Rare earths explorer RareX (REE) has intersected high-grade gold-copper mineralisation in the first hole at the Trundle Gold-Copper Project.
The Trundle Project lies within the Mordialloc target, which is located 30 kilometres west of China Molybdenum’s Northparkes Copper-Gold Project in NSW.
RareX holds a 35 per cent interest in the project while Kincora Copper holds the remaining 65 per cent.
This hole, TRDD001, interested multiple intervals of high-grade shallow gold and copper mineralisation as well as a deeper anomalous interval of gold-copper mineralisation.
Significant results include 2.2 metres at 4.32g/t gold and 2.43 per cent copper from 75.9 metres, and 20.5 metres at 1.94g/t gold and 1.18 per cent copper from 57.6 metres.
In mid-May 2020, RareX encountered mineralisation in this same hole, intersecting multiple mineralised zones including 28 metres of visually interpreted mineralisation from a depth of 55 metres.
This hole also intersected a neighbouring monzonite and monzodiorite intrusion with disseminated pyrite and chalcopyrite.
RareX is now waiting on results from the second hole at the Mordialloc target which are expected in two weeks.
As previously announced, this hole has outlined a strong indication of a mineralised porphyry intrusion system.
“Achieving such significant intervals of high-grade mineralisation in the very first exploration drill-hole at the Trundle Project is an outstanding result,” Executive Director Jeremy Robinson said.
“We are now eagerly awaiting assays from the second hole at Mordialloc, where we recently reported very encouraging visual results, and seeing what the next few holes can deliver,” he added.
RareX is up 5.88 per cent on the market and shares are trading for nine cents each at 2:34 pm AEST.