MinRex to earn half of Fraser Range copper-gold play

• MRR signs earn-in agreement for 50% of WC1’s Fraser Range copper-gold project
• WC1 has flagged five high-priority drill targets for copper-gold and base metals
• MRR to commence drilling in the coming months

Special Report: MinRex Resources has signed an option agreement with West Cobar Metals (ASX:WC1) to acquire a 50% stake in the Fraser Range copper-gold project in WA by sole funding $500k worth of exploration.

The Fraser Range project comprises granted exploration licences and mineral rights targeting high prospectivity for copper-gold mineralisation.

Notably, there has been limited historical exploration on the project despite quality iron oxide copper gold (IOCG) targets strongly associated with intense alkaline magmatism.

It also shares geological similarities and host rocks similar to that of the Nova-Bollinger nickel-copper deposit and potential Broken Hill Type (BHT) silver-zinc-lead host stratigraphy found in northwest Queensland’s Mt Isa Belt and at Broken Hill in NSW.

Already, WC1 has identified three IOCG (Glenmorangie, Oban and Talisker) and two BHT (Benriach and Glendronach) targets prioritised for drill testing to depths of 200m to 300m.

MinRex Resources (ASX:MRR) plans to begin earn-in drilling in the coming months.

Highly prospective copper-gold targets

“We are delighted to be partnering with Matt and his team at West Cobar Metals to test quality IOCG and Broken Hill Type (BHT) targets in the highly prospective Fraser Range region,” MRR technical director Ian Shackleton said.

“We share their enthusiasm for the copper-gold targets which are considered to be located in prime IOCG and BHT terrane in a major crustal shear zone.

“Exploration activities at the Fraser Range copper-gold project will commence immediately, with heritage survey clearance of proposed drilling locations to be completed in the first week of April followed by RC drill testing of five high priority IOCG and BHT targets planned for completion within four months.”

In the meantime, the company will continue to evaluate multiple additional opportunities in Australia and overseas to complement its existing projects.

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.