Rex Minerals Limited (ASX:RXM)
Melbourne, June 24, 2009 AEST (ABN Newswire) - Rex Minerals Limited (ASX:RXM) has made some exciting new copper discoveries in both South Australia and New South Wales.
In South Australia, Rex has intersected thick and high-grade copper which appears to be associated with a very large mineralized system. Rex believes that the best strategy here is to broadly quantify the size and scale of the copper, gold and uranium that exists on the Yorke Peninsula before narrowing the focus to deliver a new large scale and long life mining opportunity.
At Mt Carrington in New South Wales, Rex has made a new shallow and high grade copper discovery which compliments the existing shallow gold and silver Resources.
We believe that this copper discovery could add significant value to the development options at Mt Carrington and the next 12 months will see some follow-up drilling for the copper, gold and silver combined with metallurgical test work to deliver some development options in the first half of 2010.
Rex is well placed with financing secured to continue the exploration effort at both projects. Rex also anticipates that there will be significant improvements in commodity prices over the next 2 to 5 years, as the impact from global financial crisis eases and the additional money in circulation creates inflationary pressures. This should further enhance the value received any positive mining opportunities identified at both projects.
For the full Rex Minerals June 2009 Presentation (26 pages), please click the link below:
http://www.abnnewswire.net/media/en/docs/60945-20090624-Presentation-ASX-Release.pdf
Contact
Steven Olsen
Managing Director
Tel: +61-3-5337-4000
or
Janet Mason
Company Secretary
Tel: +61-3-5337-4000
E-mail: info@rexminerals.com.au
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