- Rex Minerals (RXM) re-commences drilling at its Hog Ranch gold project in Nevada
- The company first acquired the property in 2019 and earlier this year announced an updated mineral resource estimate which contains a total of 2.26 million ounces of gold
- Twelve reverse circulation drill holes will be completed, marking the company’s last program for the year
- Once core samples are collected from Bells, Krista and Airport, RXM expects laboratory turnaround times to take between six and eight weeks
- Shares have been trading 3.9 per cent lower at 24.5 cents
Rex Minerals (RXM) has re-commenced drilling at its Hog Ranch gold project in Nevada.
The company first acquired the property in 2019 and earlier this year announced an updated mineral resource estimate which contains a total of 2.26 million ounces of gold.
A reverse circulation drill program comprising 12 drill holes will make up the company’s last program for the year.
Drilling has been designed to follow up on recent discoveries at the Airport prospect, where 56.4 metres at 2.1 grams per tonne (g/t) of gold and 114 metres at 0.64 g/t gold were intersected.
Rex said the gold mineralisation at Airport remains open in all directions, and this round of drilling will test strike extensions.
At the Bells and Krista projects, drilling will focus on resource extensions in breccia features which remain open at depth.
The Bells Project is situated at the southern end and the Krista Project is situated at the northern end of the mining claims that make up the Hog Ranch property.
Once core samples are collected, RXM expects laboratory turnaround times to take between six and eight weeks.
Shares were trading 3.9 per cent lower at 24.5 cents at 2:11 pm AEDT.