Melbourne, Jan 23, 2009 AEST (ABN Newswire) - Highlights for the period to December 31 2008 for Rex Minerals Limited (ASX:RXM) include large scale high grade copper-gold mineralisation discovered within the Zanoni structure at Hillside. Also gravity results received for the Parara Project, 12km north of Hillside, highlighting multiple targets with characteristics similar to the Hillside Project and a resource upgrade completed at Mt Carrington for a total of 190,000ozs of gold and 10.5Mozs of silver.
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.
Rex is in a good position to optimise the return from these discoveries with 100% ownership of the project area, a tight capital structure and with the required finances and drilling capacity to continue exploring well into 2010.
The resource upgrade completed at Mt Carrington is also a significant result and provides Rex with an excellent opportunity to acquire an advanced gold and silver project. The existing resources at Mt Carrington are very shallow with the potential for further extensions near the surface. Rex considers that the Mt Carrington project has the required attributes to meet its vision of acquiring projects with the potential for large scale and high grade mineralisation whilst providing exposure to the gold and silver price.
Contact
Steven Olsen (Managing Director)
or Janet Mason (Company Secretary)
TEL: +61-3-5337-4000
E-mail: info@rexminerals.com.au
www.rexminerals.com.au
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