Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Rex Minerals has commenced drilling at its Hog Ranch Gold Property in Nevada
  • The aim is to confirm the historical data used in Rex’s maiden mineral resource
  • Management has already completed a site visit to engage stakeholders and confirm future work
  • Shares in Rex Minerals are down 11.5 per cent, trading for 7.7 cents a share

Rex Minerals has commenced drilling at its Hog Ranch Gold Property in Washoe County, Nevada.

The project is located approximately 180 kilometres north-east of Reno and 90 kilometres north of Gerlach.

Rex Minerals just recently obtained the Hog Ranch Project in August 2019.

The project contains 247 unpatented mining claims and spans a total area of approximately 2000 hectares.

Gold mineralisation was first discovered at Hog Ranch in 1980 with gold production beginning in 1986 via open pit milling and heap leach methods.

After 18 months of production, the project was sold to Western Mining Corporation who operated the mine until 1991.

This newly planned drilling program is designed to confirm the historical data used in Rex’s maiden mineral resource for Hog Ranch that was announced in early September 2019.

It will also improve confidence and provide additional data and density at the Bells Area to upgrade the mineral resource.

The United States Department of Interior’s Bureau of Land Management (BLM) approved the plan for reverse circulation drilling at the Bells Area on September 30 2019.

Rex then mobilised the site preparation and drilling contractor for the commencement of drilling in early October.

The management team from Rex recently completed a successful site trip to Hog Ranch to engage local stakeholders, assess logistics and confirm priority targets and future work programs.

The current state of the historical open pits, stockpiles and general site access was also reviewed on the ground in regard to Rex’s planned activities.

However, site access is generally restricted from mid-November until April due to weather conditions with snow and sub-zero temperature expected during the winter months.

Shares in Rex Minerals are down 11.5 per cent, trading for 7.7 cents apiece in a $25.82 million market cap.

RXM by the numbers
More From The Market Herald
MetalsGrove Mining (ASX:MGA) - Managing Director, Sean Sivasamy

" MetalsGrove Mining (ASX:MGA) begins soil sampling at Upper Coondina

MetalsGrove Mining (ASX:MGA) has begun a soil sampling program at its Upper Coondina lithium project in…
Bryah Resources (BYH) - CEO, Ashley Jones

" Bryah Resources (ASX:BYH) raises $1.4m via placement

Bryah Resources (ASX:BYH) has received firm commitments from sophisticated and professional investors to raise $1.43 million…
The Market Herald Video

" Meeka Metals (ASX:MEK) banks fresh capital on sale of Gecko North

Meeka Metals (ASX:MEK) completes the sale of its Gecko North project in Western Australia to LithGold…
Godolphin Resources (ASX:GRL) - Managing Director, Jeneta Owens

" Godolphin Resources (ASX:GRL) receives final assays from Cyclops

Godolphin Resources (ASX:GRL) has received the final assays from the two-hole drilling and soil sampling program…