Rex strikes new copper at Hillside

THE DRILL SERGEANT: South Australia-focused copper play Rex Minerals has received drilling results from its 100% owned Hillside copper project, located on the Yorke Peninsula.

The latest drilling results are the first to be released since the company released its updated Mineral Resource estimate and Conceptual Study in July.

Highlights from the recent drilling program at Hillside include:

– 60 metres at 1.7 per cent copper and 0.2 grams per tonne gold;

– 47m at 1.0% copper and 0.5g/t gold;

– 32m at 1.0% copper and 0.5g/t gold;

– 339m at 0.6% copper and 0.3g/t gold;

– 18m at 1.1% copper and 0.3g/t gold; and

– 15m at 1.1% copper and 0.1g/t gold.

All assay results were reported as down hole lengths.

The latest drilling results stem from both infill drilling and the drilling of new extensions located beyond the existing Mineral Resource.

Rex said it has also discovered new extensions to the copper‐gold mineralisation to the south in an area called Leprena.

The company currently has three drill rigs operating on the Leprena structure and said it anticipates continuing to intersect mineralisation.

Assay results from Leprena and are expected within the next two months.

“The new drilling results demonstrate that the Hillside project is continually improving with further drilling,” Rex Minerals managing director Steven Olsen said in the company’s announcement to the Australian Securities Exchange.

“Extensions to the current Resource and additional high grade results from infill drilling will help to optimise the mine plan during the pre‐feasibility study.”

Rex has commenced the pre‐feasibility study at Hillside, with the drilling program focussed on areas that were highlighted during the conceptual study.

These are close to the existing mine plan and Rex is confident they could add value to the Hillside project.

The company has additional drilling scheduled to ascertain metallurgical and other technical information required for the prefeasibility study.

One drill rig is currently deployed at the Equis prospect, which is one of Rex’s high priority regional targets, with results from the first two drill holes expected shortly.