Gold bearing spherolitic rhyolite sitting on the surface at the Bells Project area. Source: Rex Minerals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Rex Minerals (RXM) commences exploration activities at its Hog Ranch Gold Property in Nevada, USA for the 2022 field season
  • The company says reverse circulation drilling is underway, starting its first hole at the Krista Project
  • The program is for 4000 metres of drilling over the Krista, Airport and Bells Projects which include testing of multiple targets and extensions to earlier discoveries
  • The planned further soil program is now underway and on-site work is anticipated to be completed for the entire regional survey within a few months
  • RXM shares are down 6.98 per cent, trading at 20 cents

Rex Minerals (RXM) has commenced exploration activities at its Hog Ranch Gold Property in Nevada, USA for the 2022 field season.

The company said RC drilling is underway, starting its first hole at the Krista Project with its program including testing of multiple targets and extensions to earlier discoveries at the Krista, Airport and Bells Projects.

The program is for 4000 metres of drilling for over 15 drill holes spread over the three projects which include testing of multiple targets and extensions to earlier discoveries.

Regional mapping and site visits in late April at Hog Ranch confirmed new prospects and target locations and has interpreted Cottonwood Creek Caldera as a host of a major regional gold trend and multiple target types.

Evidence includes the presence of silica sinter found at multiple locations and often over a broad area.

These observations, coupled with evidence of ancient hot springs, are interpreted to be very positive exploration vectors for epithermal gold occurrences.

Gold has already been located over a large part of Hog Ranch, with a 2.26 million ounce JORC compliant mineral resource defined since the asset was purchased in August 2019.

The planned further soil program is now underway and on-site work is anticipated to be completed for the entire regional survey within a few months, with initial assay results anticipated approximately a month after the completion of the soil sampling program in the field.

RXM shares were down 6.98 per cent, trading at 20 cents at market close.

RXM by the numbers
More From The Market Herald
Countplus (ASX:CUP) - Incoming CEO, Hugh Humphrey

" Hugh Humphrey appointed CEO of Countplus (ASX:CUP)

Investment services company CountPlus (ASX:CUP) has appointed Hugh Humphrey as the company's CEO, effective July 1.

" ASX employee tests positive for Covid-19

The ASX says an employee has contracted Covid-19.

" ASIC launches official investigation into ASX market outage

The ASX has confirmed today it is officially under investigation from the Australian Securities and Investments…

" ASX sheds more light on last week’s market tech failure

The Australian Securities Exchange has shed some more light on the nature of last week's market…