MinRex Resources’ Sofala gold project in New South Wales is emerging as a potential multiple open pit gold mining hub after it unveiled a maiden resource at the Surface Hill prospect.

MinRex Resources (ASX:MRR) now hosts a bounty of 352,000oz at Sofala with the inclusion of the  808,012t at 1.09 g/t Au for 28,300oz maiden inferred resource at Surface Hill.

It looms as a potential satellite deposit around the Wattle Flats region for the 323,913oz Spring Gully and a number of historic mines with only a few kilometres radius.

Surface Hill remains open in all directions and at depth, with MinRex chief executive Pedro Kastellorizos saying it has substantial potential for resource growth.

A maiden ground IP survey is being planned to highlight mineralised targets at depth, and importantly the resource is purely based on shallow historic drill holes from 1993-1994, meaning it is leveraged to the introduction of modern exploration.

“There are many strong gold targets delineated by previous exploration which require further follow-up such as trenching yielding 25m @ 75.3g/t Au, 25m @ 11.6g/t Au and 25m @ 4.6g/t Au, along with rock chip assays including 16.8g/t Au, 4.12g/t Au and 3.3g/t Au,” Kastellorizos said.

“All geological indications show Surface Hill is only a small topographical expression of an extensive mineralised system.

“Based on the geographic location of historical alluvial/hardrock mines and prospects, it clearly demonstrates the mineralised corridor is striking within north-western direction with all gold occurrences falling within this gold bearing zone.

“Our existing two Resources at the Sofala Gold Project strongly position MinRex to deliver further resources based on the extensive untested historic mining areas.”

Further drilling planned in 2021-22

Located 44km north of Bathurst, Surface Hill was mined by the old timers back in the Gold Rush days in the late 1800s and early 1900s, producing around 11,250oz of the precious metal.

But modern exploration has been limited and there are plenty of gaps to fill in between its nine identified mineralised lodes to the north, south, east and west, with previous owner Compass Resources only drilling 28 shallow RC and diamond drill holes into the deposit.

Based on the results of the IP survey MinRex plans to launch a 25 hole, 3400m drill drive to identify new mineralised zones, improve the resource classification and boost the resource’s tonnage and grade.

High-grade areas in the east and north-western zones of the resource are considered priority targets.

Drilling is also due to take place at the Queenslander and Spring Gully prospects in the December Quarter, pending Covid restrictions, Kastellorizos said.



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.