Cross section at Hillside (74300N) showing the location of the copper mineralisation within drill holes HDD025 and HDD026.
Melbourne, July 6, 2009 AEST (ABN Newswire) - Rex Minerals Limited (ASX:RXM) is pleased to report further drilling results from two holes at the Hillside copper-gold project in the Pine Point Copper Belt on the Yorke Peninsula, South Australia. These results have identified the southern extension of the mineralisation previously reported from drill hole HDD018 of 259m @ 1.7% copper and 0.4g/t gold (announced 12 January 2009).
Rex Minerals Managing Director Mr. Steve Olsen said "The drilling results continue to define extensions to the large scale copper-gold mineralisation at Hillside. Our understanding of copper at Hillside is also gathering pace, which, combined with the recent capital raising and increased drilling capacity is expected to rapidly increase the discovery rate at both Hillside and other projects along the Pine Point Copper Belt".
"The Pine Point Copper Belt clearly has the potential to host a number of large scale copper systems. Building on our success to date, in July, Rex will begin a new geophysical program designed to quickly identify copper-gold mineralisation between 20m and 500m below the surface." Mr Olsen said.
Results
Best results include:
- 8m @ 1.5% copper and 0.2g/t gold from 482m in drill hole HDD025.
- 268m @ 0.7% copper and 0.2g/t gold from 257m in drill hole HDD026
Including:
22m @ 3.2% copper and 0.7g/t gold from 350m.
10m @ 1.9% copper and 1.0g/t gold from 387m.
14m @ 1.6% copper and 0.2g/t gold from 471m.
7m @ 2.3% copper and 0.3g/t Au from 515m.
Two holes, HDD025 and HDD026, were completed to test the depth extent of copper mineralisation in the Zanoni Fault on drill section 74300N, located 100 metres to the south of HDD018 (Section 74400N). The results have supported previous drilling information which identified steep east dipping structures with high grade (>1%) copper mineralisation. This mineralisation exists within a broader envelope of lower grade copper mineralisation which combines to identify large scale copper-gold mineralisation.
Both drill holes have also intersected deep zones of massive haematite and bornite below the Zanoni structure at 689m in HDD025 and 710m in HDD026, as tabled below. Both of these zones are similar and depth to the bornite-hematite zone observed in drill hole HDD024W1, drilled 100m to the north (announced 20 May 2009). The copper grade and thickness of these zones in HDD025 and 026 are better than that in HDD024W1, which may indicate that the source of the main gravity anomaly is closer to this drill section. In addition, the occurrence of bornite itself on both drill sections is highly significant and encouraging, as this may lead to an area of higher copper grades than is typically seen in the shallower chalcopyrite-dominated copper zones.
Current Activities
Diamond drilling is continuing at Hillside in South Australia, with the drill rig currently situated around 1km south of the deep drilling program to follow up a previous intersection in drill hole HDD022 of 12m @ 2% copper from 45m below the surface. Initial results from drilling at this location are expected to be returned in late July 2009.
A high resolution airborne magnetic and electromagnetic survey will also commence at Hillside in mid July to define the extent and geometry of the high grade massive sulphide copper lenses, and the controlling magnetite-rich host structures. The results of this survey will provide a basis for more focussed targeting and drilling of the extent of the copper mineralisation that may exist between 20m and 500m below the surface.
For the complete Rex Minerals Announcement, please click the link below:
http://www.abnnewswire.net/media/en/docs/61004-ASX-RXM-320207.pdf
Contact
Steven Olsen
Managing Director
Phone: +61-3-5337-4000
E-mail: info@rexminerals.com.au
or
Janet Mason
Company Secretary
Phone: +61-3-5337-4000
E-mail: info@rexminerals.com.au
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