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- Rex Minerals (RXM) has commenced a reverse circulation (RC) drilling program at its Hog Ranch Gold Property in northern Washoe County, Nevada
- RC drilling will include roughly 12 holes, for 2130 metres, to target shallow disseminated gold at the Bells Project, which forms part of Hog Ranch
- Ultimately, Rex is aiming to convert the mineral resources from the inferred to the indicated category
- Following drilling at Bells, the drill rig will move to the north and test targets at Krista and Cameco
- Company shares are up 4.35 per cent and are trading for 12 cents each
Rex Minerals (RXM) has commenced a reverse circulation (RC) drilling program at its Hog Ranch Gold Property in northern Washoe County, Nevada.
RC drilling will include roughly 12 holes, for 2130 metres, to test a number of gold targets.
Over the next few months, drilling will target the shallow disseminated gold at the Bells Project, which is part of the Hog Ranch Gold Property, to convert the mineral resources from the inferred to the indicated category.
Some exploration drilling will also be conducted to develop a high-grade feeder zone.
“We have rapidly grown the near-surface mineral resource to 1.4 million ounces of gold in under 12 months. We now see significant opportunity to expand the resource to the north and have launched a new drill program to follow up on a sample of these targets,” Managing Director Richard Laufmann said.
Following the drilling at Bells, the drill rig is expected to move to the north and test targets at Krista and Cameco. There are various drill holes planned to test for extensions to the shallow disseminated gold mineralisation at Krista. Drilling will also test a few deeper, high-grade vein targets at Cameco and Krista.
If Rex finds the results particularly encouraging, it may choose to extend the drilling program.
Company shares are up 4.35 per cent and are trading for 12 cents each at 10:57 am AEST.
