Rex Minerals Ltd (ASX:RXM) has reported positive assay results, with thick intersections from a recent six-hole drill program targeting 3D IP targets at its Airport Project in Nevada.
Results from the project, which sits within the 100%-owned Hog Ranch property, include the following key intersections:
- Hole HR21-012: 56.4m @ 2.12g/t Au from 54.9m, including
- 12.2m @ 3.86g/t Au from 57.9m, and
- 4.6m @ 8.61g/t Au from 88.4m
The intersections confirm the discovery of a new ‘highly-mineralised’ structure west of the existing Airport MRE, and reinforce results that Rex had previously reported from the drill program in July, including 114m @ 0.64g/t gold, from 94.5m and 111.3m @ 0.83g/t gold, from 7.6m.
“This six-hole program…gives us solid evidence that the Airport Project area can grow to become another significant deposit at Hog Ranch”
Targeting 3D IP data at Airport
The drill program was tasked with the job of testing a series of targets generated from modelling of new 3D IP data, in particular potential extensions to the Airport structure, along with three new seperate structures.
Rex describes the latest round of assay results as ‘extremely encouraging’, with evidence of further large-scale gold mineralisation at Airport.
All assay results have been received from the six-hole program:
40 years of exploration at Hog Ranch
The Hog Ranch Property is situated in north-western Nevada, ~45km from the California border and ~91km from Oregon.
The property includes a number of gold projects including Bells, Krista, Cameco, Airport and the most-recent Gillam Prospect.
Gold mineralisation was first encountered at Hog Ranch in 1980, with production operating from 1985 through until 1992 when mining was terminated due to low gold prices. During this period total production from six pits came to 7.7 million tonnes @ 1.23 g/t Au, with approximately 200,000 ounces of gold ultimately produced.
The property was acquired by Rex Minerals in 2019, with the company declaring a mineral resource estimate totalling 2.26Mozs of gold comprised of 1.7Mozs inferred + 0.56Mozs indicated resource.
Management comments
Rex Minerals CEO and Managing Director Richard Laufmann said: “Two new discovery holes from three new targets is an outstanding result from a drill program testing targets generated by our 3D IP survey. This six-hole program, testing a 20ha area at the Airport Project, gives us solid evidence that the Airport Project area can grow to become another significant deposit at Hog Ranch.”
Images: Rex Minerals Ltd
