Melbourne, Mar 3, 2009 (ABN Newswire) - Rex Minerals Limited (ASX:RXM) has exploration licences in one of the most prospective locations in the world for large scale copper, gold and uranium deposits. The Projects are located in South Australia, with the geological terrane called the Gawlor Craton. The Gawler Craton hosts the World Class Olympic Dam deposit a nd the more recently discovered Prominent Hill and Carrapateena deposits
Rex has copper-gold-uranium projects at Pine Point and Wandearah. Both Projects are within a 2 hour drive of Adealide and are close to the coastline with existing port facilities nearby.
Pine Point
At Pine Point, Rex is focussing on the Hillside target. The historical Hillside mine had recorded production at a grade of over 20% copper. This occurs next to a large regional fault, known as the Pine Point fault. This fault is considered by Rex to be an important control on the copper-gold-uranium deposits at the Yorke Peninsula.
Rex has used both magnetic and gravity surveys to identify where to test for copper-gold-uranium mineralistation at Hillside.
Diamond drilling by Rex at Hillside has discovered a number of structures which contain copper, gold and uranium. These structures have been defined for up to two kilometres in length.
A recent drill hole located within a structure called the Zanoni, intersected some large sections of very high grade copper and gold mineralisation. Rex is continuing to test for high grade copper, gold and uranium at Hillside. For comparision, a number of anomalies that Rex is testing are similiar in size to the Prominant Hill deposit, which has approximately 1.5 million tonnes of contained copper.
There are a number of historical copper mines which exist near the Pine Point fault. Rex believes that they are all potential locations for large scale copper-gold and uranium, and that Rex will ultimately uncover a number of large copper-gold-uranium deposits on the Yorke Peninsula.
Wandearah
At Wandearah, the prospective rocks are underneath 300 to 500 metres of cover. Rex is exploring for a large copper-gold deposit at Wandearah, based on a very large magnetic and gravity anomaly. For comparison Olympic Dam, one of the world's largest copper deposits, could comfortably fit within the area identified by this anomaly.
About Rex Minerals Limited
The strategy at Rex Minerals Limited is to acquire highly prospective projects with the potential to host large resources in commodities that are in high demand. Rex has ownership of projects covering the commodities of Gold, Silver, Copper and Iron. They are located in two states (SA and NSW) and are within geological terrains that are known for their endowment in these commodities. Rex then applies its extensive technical experience and existing drilling capacity to progress these projects. These projects will lay the foundations for long term internal growth of Rex as we forge ahead to become a diversified exploration and mining company.
Contact
Steven Olsen
Managing Director
Or
Janet Mason
Company Secretary
Tel: +61-3-5337-4000
Email: info@rexminerals.com.au
www.rexminerals.com.au
| ||
|
