Rex Minerals Limited (ASX:RXM) Airborne Electromagnetic (EM) Defines New High Priority Drilling Targets At Hillside Copper Project

Melbourne, Sep 17, 2009 AEST (ABN Newswire) - Rex Minerals Limited (ASX:RXM) has completed a new high-resolution airborne electromagnetic (EM) program over its 100% owned Hillside copper-gold prospect on South Australia's Yorke Peninsula. Initial results from this survey show that there are three distinct anomalous zones, all of which are interpreted to be shallow, conductive bodies potentially associated with copper sulphide mineralisation. The three anomalies are orientated in a predominantly north-south direction and in some cases, overlap, or are slightly offset from the magnetic anomalies that Rex recently identified from its high-resolution aeromagnetic survey.

The EM data generated from the airborne survey is considered to add another important dimension to assist in guiding Rex's drilling program to define the location of high-grade copper mineralisation between 20m and 200m below the surface at Hillside. Drill testing will commence immediately on the western anomaly which is associated with a co-incident magnetic anomaly.

Rex's Managing Director Mr Steven Olsen said "The identification of robust EM targets is yet another highlight for Rex and will improve our understanding of the copper mineralisation at Hillside. The size and the location of the EM anomalies is very encouraging and we are looking forward to drill testing these over the coming months".

Results

The EM survey has provided data on the same scale as the previously completed aeromagnetic survey with the results showing two distinct target types. The first appears to highlight a relationship between the previously identified high intensity magnetic features and the newly identified conductive EM anomalies. The second appears to be situated near magnetic lows and was previously not recognised as being prospective for copper-gold mineralisation.

Future Hillside and Pine Point Programs

Rex Minerals currently has two diamond drill rigs at Hillside, (the additional drill rig recently arrived from Rex's Mt Carrington Project). The first drill rig has started to test the high priority areas defined by the coincident aeromagnetic and EM data. The second drill rig is continuing to define the northern extensions to the high grade copper mineralisation that has been identified within the Zanoni Fault Zone. In late September the second drill rig will move to drill further high priority targets defined by the aeromagnetic data and the EM data.

Throughout late September and early October, a regional high resolution aeromagnetic survey will be completed over the entire Pine Point Copper Belt within Rex's Exploration Licence on the Yorke Peninsula. This information is expected to be processed in late October. Rex is focussing its activities for the remainder of 2009 on the generation of targets considered prospective for multiple large scale copper projects at both Hillside and throughout the Pine Point Copper Belt. This work will continue into the first half of 2010, when Rex aims to deliver the first resource estimate from the Hillside project.

For the complete Rex Minerals ASX Announcement, please click the link below:

http://www.abnnewswire.net/media/en/docs/61446-ASX-RXM-324138.pdf

Contact

Steven Olsen (Managing Director) or Janet Mason (Company Secretary) Phone: +61-3-5337-4000 E-mail: info@rexminerals.com.au