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Rex Minerals (ASX:RMX) - Managing Director, Richard Laufmann - The Market Herald
Managing Director, Richard Laufmann
Source: Rex Minerals
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  • Rex Minerals (RXM) has confirmed significant gold extensions outside the current mineral resource at its Hog Ranch Gold Property in Nevada, U.S.
  • All up, 10 holes were drilled at the Krista Project to test 10 individual target locations outside of the currently defined gold mineralisation
  • Of these 10, seven returned significant assay results which extended the known location of the gold mineralisation
  • Significantly, two kilometres of gold mineralisation was identified between the Krista and East pits, and 1.5 kilometres of gold mineralisation was identified near the Geib pit
  • Rex has now mobilised a reverse circulation (RC) rig to Hog Ranch to follow-up gold extensions at the Bells and Krista projects
  • The company has also commissioned a number of 3D-induced polarisation surveys to refine drill target positions
  • Rex is up a healthy 12 per cent and shares are currently trading for 14 cents

Rex Minerals (RXM) has confirmed significant gold extensions outside the current mineral resource at its Hog Ranch Gold Property in Nevada, U.S.

All up, 10 holes were drilled at the Krista Project to test 10 individual target locations outside of the currently defined gold mineralisation.

Of these 10, seven returned significant assay results which extended the known location of the gold mineralisation.

Significantly, two kilometres of gold mineralisation was identified between the Krista and East pits, and 1.5 kilometres of gold mineralisation was identified near the Geib pit.

This work returned a peak gold grade of 1.2g/t gold with a peak thickness of 40 metres.

Furthermore, Rex is targeting a multi-million ounce, low-grade oxide gold deposit at Krista.

"These drill holes at Krista were an important first step towards understanding how big the project could be. This drilling has confirmed good continuity to the gold mineralisation which is shallow, oxidised and in some locations over 100 metres in thickness," Managing Director Richard Laufmann said.

"We are now observing and defining a central core to Krista, with the second round of drilling underway. Krista is shaping up to have an enormous footprint, opening the door to economies of scale to drive even lower cost structures," he added.

Rex has now mobilised a reverse circulation (RC) rig to Hog Ranch to follow-up gold extensions at the Bells and Krista projects.

The company has also commissioned a number of 3D-induced polarisation surveys over the Bells, Krista and Cameco/Airport areas to refine the drill target positions.

Rex is up a healthy 12 per cent and shares are trading for 14 cents at 1:58 pm AEDT.

RXM by the numbers
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