MinRex Resources Ltd (ASX:MRR) has completed a reverse circulation (RC) drilling campaign at Wiles Prospect within its Sofala Gold Project on the highly prospective Lachlan Fold Belt in NSW.
The company has completed a total of 794 metres of drilling across 14 holes with all RC samples dispatched to Nagrom Laboratories in Perth for assaying of gold, silver and base metals.
MinRex has thanked local landowners in the area north of Bathurst for their support during the program.
“Pleased to complete first drilling”
MinRex Resources chief executive offer Pedro Kastellorizos said: “We are pleased to have completed Minrex’s first maiden drilling campaign at the Wiles Gold Prospect.
“We have intersected in all the drill holes quartz veining and sulphide mineralisation (mainly pyrite) associated with moderate sericite alteration which are all the hallmarks of gold mineralisation within the Lachlan Fold Belt.
“We look forward to updating the market as the assay results are received from the laboratory.”
About Wiles Prospect
The Wiles Prospect is a recently discovered orogenic gold deposit on strike of the Big Oakey Fault between Whalans Hill, with an intersection of 10 metres at 1.63 g/t gold, and Caledonian, with 2 metres at 8.11 g/t.
This prospect was discovered in 2018 by joint-venture partner Wattle Resources Pty Ltd.
A soil sampling campaign of the previously unexplored ground was conducted by Wattle producing strong results including 10.6 g/t gold, 9.26 g/t, 4.28 g/t and 4.01 g/t.
This prospectivity was confirmed by shallow RC drilling in late 2020 with results returning 9 metres at 2.43 g/t from 17 metres and 2 metres at 2.97 g/t from 6 metres.
Forward planning
The company has planned aggressive exploration and project development activities over the next six months, including:
- JORC 2012 resource reporting over the Spring Gully Prospect;
- Mt Pleasant prospect geophysics interpretation and target generation;
- Assay results from the Wiles Gold Prospect RC drilling program;
- JORC 2012 resource reporting over the Surface Hill Prospect;
- JORC 2012 resource reporting over the Wiles Gold Prospect;
- JORC 2012 resource reporting over the Mt Pleasant Prospect;
- RC drilling program at Queenslander Gold Prospect; and
- Resource extension RC drilling program at Spring Gully Gold prospect.
The above activities are subject to change depending on the results of further exploration activities and technical analysis.