Rex Minerals Limited
ASX:RXM ISIN:AU000000RXM4
News
Rex Minerals Limited (ASX:RXM) is pleased to announce that the Company has received the further results from the drilling program completed late in 2008 at its 100% owned Hillside Project in South Australia. Results were returned from drill holes HDD019 and HDD022. The most significant result returned was an intersection of 12m @ 2% copper and 0.4g/t gold from 56m in HDD022.
The results at Hillside have continued to support the interpretation first postulated by Rex in its Prospectus that there are multiple large scale copper-gold-uranium deposits on the Yorke Peninsula in South Australia. The outstanding intersection returned from HDD018W1 highlights the exciting potential of the copper-gold mineralisation in this area.
Yesterday the Australian shares closed lower. The benchmark S&P/ASX200 index ended 52.4 points, or 1.4%, lower at 3683.3, while the broader All Ordinaries shed 56.4 points, or 1.53%, to 3624.0. The market is pessimistic about the company earnings ahead both in Australia and abroad as investors get prepared for the news that would bring some unpleasant surprises.
Rex Minerals Limited (ASX:RXM) is pleased to announce that the Company has received further high grade copper-gold results over substantial widths from drilling at its 100% owned Hillside Project on the Yorke Peninsula, South Australia.
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