MinRex drilling uncovers surface gold at the Wiles prospect
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MinRex’s maiden first pass drilling has proved the presence of surface gold at the Wiles prospect within its Sofala project in NSW’s Lachlan Fold Belt.
The mineralisation starts from surface or within the top 20m with some gold loads extending +300m in strike while remaining open in all directions.
Notable results include 13m at 1.6 grams per tonne (g/t) gold from surface including 4m at 3.4g/t gold from 9m and 7m at 1.04g/t gold from 2m including 2m at 1.95g/t gold from 6m.
Adding further interest, MinRex Resources (ASX:MRR) noted that the results delineate 10 mineralised zones on the same orientation as mineralised quartz veins at the 28,300oz Surface Hill gold deposit just 750m east of Wiles.
“Our 2021 ground exploration campaign is off to a good start based on the very positive first drilling program delineating extensive stacked mineralised gold lodes previously unknown to the company,” chief executive officer Pedro Kastellorizos said.
“Based on the nearby historic gold mines of Whalan’s Hill Surface Hill, Little Oaky Mine and the Caledonian, the Wiles prospect fits within this highly prospective gold mineralised corridor.
“The results from the drilling program have continued to validate a series of stacked gold bearing lodes with all remaining open in all directions.
“At this stage, MinRex will design a ground IP or EM survey over the Wiles prospect to delineate further mineralised extensions along strike and width, but also to test if deeper or broader mineralisation exists at depth.”
The Wiles prospect is located about 30km north of Bathurst with access provided by the sealed Bathurst-Sofala road.
It is on strike with the Big Oakey Fault between Whalans Hill and Caledonian, which have recorded production of 397oz and 435oz of gold respectively.
Wiles was discovered by joint venture partner Wattle Resources in 2018 after soil sampling of previously unexplored ground produced exceptional results.
This article was developed in collaboration with MinRex Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.