- Drilling completed at Rex Minerals (RXM) Hog Ranch gold property in Nevada has identified extensions to the known mineralisation
- The company has received results from five reverse circulation drill holes completed late last year across the Bells and Airport projects
- Drilling at both projects has identified extensions to the mineralisation and the company expects it is close to interpreted “bonanza grades”
- With potential for further gold mineralisation at depth and along strike, further reverse circulation drilling is planned to test these open positions, once weather permits
- Company shares were trading down 2.22 per cent at 22 cents
Drilling completed at Rex Minerals (RXM) Hog Ranch gold property in Nevada has identified extensions to the known mineralisation.
The company has received results from five reverse circulation drill holes, completed late last year, across the Bells and Airport projects located within the property area.
At Bells, the drill holes were designed to test depth extensions to open mineralisation related to a series of rocks that Rex said are interpreted to be the key conduits for the gold mineralisation in this area.
From the results received, RXM said the drilling successfully identified extensions to the known mineralisation at depth, including higher-grade sections which typically surround the breccias.
CEO and Managing Director Richard Laufmann said the Bells project is an “outstanding shallow heap-leachable opportunity” which continues to grow.
At the Airport project, results from the two drill holes completed reportedly indicate that a large amount of gold mineralisation is spread horizontally away from an interpreted high-grade structure, or series of structures.
Given these results, Mr Laufmann said the company believes it is not far away from interpreted bonanza grades in this system.
Moreover, if Airport does host a central higher-grade core within the key controlling structures, as the company expects, it would provide the focus for any future economic studies for the project as well as the Cameco area.
Given the potential for further gold mineralisation at depth and along strike, Rex plans to undertake further reverse circulation drilling to test these open positions, once weather permits.
Company shares were trading down 2.22 per cent at 22 cents at 3:55pm AEDT.