Pilbara gold nugget story sparks into life as MinRex gets ‘excellent’ results
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Special report: Gold and base metals explorer Minrex Resources has received “excellent” results from lab testing of samples from a key Pilbara project.
Minrex (ASX:MRR) last month collected 230 rock samples at its majority-owned Bamboo Creek site – the biggest of four projects the explorer operates in the east Pilbara region of Western Australia.
The 75 sq km Bamboo Creek project is about 2 hours and 20 minutes south-east of Port Hedland by car.
Minrex’s other Pilbara projects are Daltons, Marble Bar North and Marble Bar South – all 70 per cent owned. (It also owns a gold project at Gullewa 370km north of Perth and a tin project in Tasmania.)
The Pilbara region has been a major focus for investors since mid-2017 when Artemis (ASX:ARV) and Canada’s Novo Resources announced a major gold nugget find at their Purdy’s Reward site south of Karratha, Western Australia.
Followers of the Pilbara gold story will note that the prestigious Denver Gold Forum is taking place in Colorado this week – the same conference where Novo Resources last year famously broadcast a live video of prospectors digging nuggets out of the ground at Purdy’s.
Today Minrex announced lab tests (or “assay”) results of up to 22.9 grams of gold per tonne.
Anything above 5 or 6 g/t is typically considered a high-grade gold find.
Minrex also outlined assays results as high as of 36g/t silver, 18.5 per cent copper as well as chromium, nickel, lead and zinc.
The Bamboo Creek region is large, remote and under-explored – making it ideal for detailed study, sampling and field exploration.
The gold mining centre was discovered in the 1890s and has been active — on and off — for more than 120 years.
Although there are no old workings in Minrex’s tenements, the general area was historically one of the major gold producers in the Pilbara region, with more than 250,000oz of gold mined and recovered from eight major mines.
Minrex’s latest excellent assay results follow high-grade gold and copper finds at all four of its Pilbara projects announced in June.
“These results build on the very encouraging exploration results from the May and June 2018 exploration program and highlight the prospectivity and potential of this remote Project area in the East Pilbara,” Minex’s executive director Simon Durack told investors today.
Minrex is already planning new programs of metal-detecting, surface-sampling and geological mapping in the lead-up to Christmas.
“Further work is planned for the near future on all of the East Pilbara Project licences,” Mr Durack said in an ASX announcement.
“The next phase of field work in the East Pilbara will again incorporate visits to all four of the project areas around the Marble Bar area. This work will commence in the near future, prior to the summer heat and rain, during the current field season in the Pilbara.”
This special report is brought to you by MinRex Resources.
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