Rex Minerals Limited (ASX:RXM) Continuation Of High-Grade Copper Assays At Hillside Copper Project, South Australia
Melbourne, Sep 1, 2009 AEST (ABN Newswire) - Rex Minerals Limited (ASX:RXM) has received further encouraging assay results from a drilling program to test the continuation of high-grade mineralisation at its 100% owned Hillside copper project on South Australia's Yorke Peninsula.
Of particular significance is the presence of copper mineralisation at shallower levels as drilling moves further north, which provides for additional encouragement for a round of drilling in coming weeks to test stronger magnetic targets recently identified in a detailed aeromagnetic survey.
The results from two holes (HDD033 and HDD034) show that copper mineralisation exists from 140m beneath the surface on this section compared with approximately 200m beneath the surface from the drilling results situated 100m to the south (HDD018 on section 74400N).
A number of high grade results were received with the highlights from this drilling program including:
- 151m @ 1.5% copper and 0.3g/t gold from 275m in HDD033W1
(Including 52m @ 3% copper and 0.5g/t gold)
- 57m @ 1.4% copper and 0.2g/t gold from 158m in HDD034
- 7m @ 1.2% copper and 0.3 g/t gold from 144m in HDD033*
- 60m @ 3.0% copper and 0.5 g/t gold from 280m in HDD033*
(*Assay results announced earlier, 21 August 2009)
A drilling program of at least three drill holes, 100m north of HDD033 is planned for the coming weeks (section 74600N). Assay results from this program are anticipated in early October.
In addition, a second drill rig is scheduled to arrive at Hillside within the next fortnight. This drill rig will start drilling a large magnetic anomaly to the north-east of HDD033. This anomaly is interpreted to be related to a structure parallel to the Zanoni, known as the Parsee, and will be tested over September and October.
Rex's Managing Director Steven Olsen said today "This is an exciting time for Rex, as we continue to receive substantial high grade copper results. It should prove to be an interesting time over the coming months as we start to test the larger magnetic anomalies at Hillside. Results from this work should help us to get a better understanding of the scale of the Hillside project in what we hope will be the first of a number of opportunities along the Pine Point Copper Belt."
-----------------------------------------------------------HOLE ID FROM(m) TO(m) INTERVAL(m) Cu(%) Au(g/t) STRUCTURE-----------------------------------------------------------HDD033 144 151 7 1.2 0.3 Zanoni 280 340 60 3.0 0.5 ZanoniHDD033W1 275 426 151 1.5 0.3 ZanoniIncluding 275 335 60 1.2 0.2Including 374 426 52 3.0 0.6HDD034 158 215 57 1.4 0.2 ZanoniIncluding 158 190 32 1.7 0.2Including 198 215 17 1.3 0.3-----------------------------------------------------------
Contact
Steven Olsen (Managing Director)
or Janet Mason (Company Secretary)
Phone: +61-3-5337-4000
E-mail: info@rexminerals.com.au
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