MinRex is setting the stage for Wiles gold drilling
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MinRex has boots on the ground carrying out reconnaissance operations at its Sofala gold project on the Lachlan Fold Belt ahead of reverse circulation drilling.
The planned 3,000m RC drilling at the Wiles prospect that will begin in May is intended to follow up on soil sampling that returned exceptional results such as 9.26 grams per tonne (g/t) gold. Shallow RC drilling hits including 9m at 2.43g/t gold from 17m and 2m at 2.97g/t gold from 6m.
Sofala is a proven gold mining region with 10 historical mines and 16 artisanal workings that date back to 1851.
MinRex Resources (ASX:MRR) is also conducting land access negotiations with property owners at the Queenslander and Hill X prospects.
Access arrangements are being progressed to support further RC drilling at these prospects in the July-August period.
The Wiles prospect is an orogenic gold deposit on strike of the Big Oakey Fault between Whalans Hill and Caledonian that was recently discovered by joint venture partner Wattle Resources.
Soil sampling and shallow drilling by Wattle has identified significant gold mineralisation at Wiles that is open in all directions.
Queenslander is another orogenic gold deposit that was a substantial operating mine in the late 19th Century.
It contains a historical resource that requires exploration to meet JORC standards while diamond drilling by RGC Exploration returned hits such as 15.1m at 3.39g/t gold from 215m.
Hill X is another recent discovery by Wattle with soil sampling returning results such as 1.3g/t gold and 0.62g/t gold.
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.