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RXM 10.3% 30.5¢

REX MINERALS LIMITED - Corporate Spotlight

Hog Ranch Gold Resource increases from 1.4Mozs to 2.2Mozs. Rex’s Managing Director... Hog Ranch Gold Resource increases from 1.4Mozs to 2.2Mozs. Rex’s Managing Director Richard Laufmann said Any way you cut it, this is a great result. We have again moved the dial in a very meaningful way, with over 2 million ounces of shallow oxide material in Resource.More

Corporate Spotlight

Hog Ranch Gold Resource increases from 1.4Mozs to 2.2Mozs. Rex’s Managing Director Richard Laufmann said Any way you cut it, this is a great result. We have again moved the dial in a very meaningful way, with over 2 million ounces of shallow oxide material in Resource.
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RXM RESHUFFLES BOARD TO DRIVE DEVELOPMENT

EUROZ HARTLEYS COVERAGE REPORT ON RXM

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INVESTOR PRESENTATION - HILLSIDE

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RXM RESHUFFLE BOARD TO DRIVE DEVELOPMENT

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Rex Minerals (ASX:RXM) reshuffles board to drive development

Mining

ASX:RXM
Rex Minerals (ASX:RXM) - CEO & Managing Director, Richard Laufmann - The Market Herald
CEO & Managing Director, Richard Laufmann
Source: Stock Journal

  • Rex Minerals (RXM) has reshuffled its board in a bid to drive the next phase of development
  • Effective immediately, Non-Executive Director Ian Smith will assume the role of Non-Executive Chairman
  • Prior to joining Rex, Ian worked at Orica (ORI), Newcrest (NCM) and Rio Tinto (RIO) in various roles
  • Current Chairman David Carland and Non-Executive Director and Chairman of the Audit Committee Alister Maitland will be retiring
  • As a result of Alister's retirement, Greg Robinson has been appointed as Chairman of the Audit Committee as well as a Non-Executive Director
  • Finally, Non-Executive Director Ron Douglas will assume the role of Chairman of the Remuneration Committee while Chief Financial Officer Amber Rivamonte will be appointed as Executive Director of Finance

Rex Minerals (RXM) has reshuffled its board in a bid to drive the next phase of development.


Effective immediately, Non-Executive Director Ian Smith will assume the role of Non-Executive Chairman.


Ian has been on the board of Rex since 2019 and prior to this he was CEO of Orica (ORI) and Newcrest (NCM).


Additionally, he was also Global Head of Operational and Technical Excellence at Rio Tinto (RIO).


Current Chairman David Carland and Non-Executive Director Alister Maitland will be retiring.


David has been Chairman of Rex for the past seven years and was involved in the company's 2014 restructure and acquisition of the Hog Ranch Gold Property in Nevada.


Alister has been a Non-Executive Director and Chairman of the Audit Committee for the past nine years.


"David Carland and Alister Maitland have corner-stoned the ongoing development and governance of the company. It has been a pleasure to work with them on a well-thought-through and planned board succession," Ian stated.


As a result of Alister retiring from the Chairman of the Audit Committee, Greg Robinson has been appointed this position as well as a Non-Executive Director.


Prior to joining Rex, Greg was CEO and Finance Director of Newcrest and Chief Finance, Chief Development Officer Energy and Chief Financial Officer (CFO) Petroleum at BHP Billiton.


Non-Executive Director Ron Douglas will assume the role of Chairman of the Remuneration Committee while current CFO Amber Rivamonte will be appointed as Executive Director of Finance.


Read the Full Article on The Market Herald here

RXM PAYS OFF $4.4M LOAN - NOW DEBT FREE

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Rex Minerals (ASX:RXM) pays off $4.4M loan and becomes debt free

Materials

ASX:RXM
Rex Minerals (ASX:RMX) - Managing Director, Richard Laufmann - The Market Herald
Managing Director, Richard Laufmann
Source: Rex Minerals

  • Rex Minerals (RXM) has paid off a $4.4 million loan facility, making the gold and copper exploration business debt free
  • The materials stock first entered into the loan agreement in February 2020, to fund exploration work at its Hillside and Hog Ranch projects
  • It managed to repay the facility using funds from a recent $9.5 million capital raise, where RXM issued close to 40 million shares at 24 cents each
  • The company has thanked the lenders for their support, noting the loan came at an important time for the junior explorer

Rex Minerals (RXM) has paid off a $4.4 million loan facility, meaning the gold and copper exploration business is now debt free.


The materials stock announced the news on Tuesday, explaining it first entered into the loan agreement in February 2020.


At the time RXM wanted to fund exploration work at its Hillside Copper Project in South Australia and at its Hog Ranch Gold Project in Nevada.


Following a recent capital raise, Rex stated it has been able to repay the original $4.4 million facilities.


The company raised a total of $9.5 million via the placement, issuing close to 40 million shares at 24 cents each.


In a statement to shareholders today, Rex thanked the lenders for their support, noting the loan came at an important time for the junior explorer.


"We would like to acknowledge the group of lenders who provided funding to the company in February 2020. Their support of our vision was integral to the Company’s plans at that time," RXM stated.


"The loan facility allowed the company to fund work at Hillside and Hog Ranch (including drill programs) without the need to dilute shareholders, at a time when our market capitalisation was approximately $19 million," it added.


Read the Full Article on The Market Herald here

INVESTOR PRESENTATION - HOG RANCH

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RXM SIGNIFICANT GOLD RESOURCE GROWTH

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Rex Minerals (ASX:RXM) marks significant gold resource growth at Hog Ranch

Materials

ASX:RXM    
Rex Minerals (ASX:RXM) makes strides at copper and gold projects
Source: Rex Minerals


  • Rex Minerals (RXM) has increased its mineral resource by more than 60 per cent across its projects at the Hog Ranch gold property in Nevada
  • The ASX-lister today reported an upgraded combined resource of 165 million tonnes at 0.43g/t gold for 2.26 million ounces across four tenements at the property 
  • The Bells and Krista projects, in particular, yielded higher grade cores, with shallow oxidised mineral resources clocking in at two million ounces with a cut-off grade of 0.4g/t
  • The upgrades are tipped to drive the next round of economic studies set to take place at Hog Ranch, with the company hinting the largest and potentially most significant structures are still yet to be tested
  • Rex Minerals is up a steady 7.32 per cent following the announcement, trading at 22 cents per share

Rex Minerals (RXM) has increased its mineral resource by more than 60 per cent across its projects at the Hog Ranch gold property in Nevada.


Despite representing a predominantly inferred resource, the enhancement has brought the property's combined total resource from 1.4 million ounces reported in May 2020 to today's upgraded 2.26 million ounces.


More specifically, the latest update reveals a combined indicated and inferred mineral resource of 165 million tonnes at 0.43g/t gold for 2.26 million ounces across the four tenements, encompassing the Bells and Krista projects and the Cameco and Airport deposits. 


The Bells and Krista projects, in particular, have indicated higher grade cores — with shallow oxidised mineral resources clocking in at two million ounces and yielding a cut-off grade of 0.4g/t for a combined 54 million tones at 0.65g/t gold for 1,130,000 ounces. 


The indicated resource at Bells was doubled as part of the upgrade, taking its combined indicated and inferred resource to 37 million tonnes at 0.47g/t gold for 560,000 thousand ounces. 


These finds are tipped to drive the next round of economic studies set to take place at Hog Ranch. 


Rex Mineral's Managing Director, Richard Laufman, says the upgrade represents a great result whichever way you cut it. 


"We have again moved the dial in a very meaningful way, with over two million ounces of shallow oxide material in resource," he commented. 


"Perhaps the most exciting new development is that we are also seeing, from the new airborne data, that the largest and possibly most significant structures are still yet to be tested," he concluded. 


In terms of future planning for the Hog Ranch property, Rex is considering options for early development of the higher-grade core at both the Bells and Krista deposits, in addition to larger and more sustainable economies suitable for the gold mineralisation for the projects. 


Rex Minerals is up a steady 7.32 per cent following the announcement, trading at 22 cents per share at 11:06 am AEDT.



Read the full article on The Market Herald here.

THE LATEST COPPER SUPER CYCLE-INTERVIEW

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Could this be the start of $7 copper?

“What we are seeing now is a copper super cycle. As the world moves to electrification copper is now front and centre. The last time copper was at this price people hadn’t even heard of Tesla. More Copper will be used the next 20 years than its entire history"


Rex Minerals Ltd (ASX:RXM) MD Richard Lauffman discusses with The Market Herald latest on the copper super cycle and what this means for its project at Hillside, SA.


“Every 25c increase in copper price, just on NPV alone would add 42c a share for - almost $160m in value to the business” 


RXM TRIPLES LAND HOLDINGS AT HOG RANCH

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Rex Minerals (ASX:RXM) triples landholding claims at Hog Ranch over Q2 FY21

Materials

ASX:RXM    
Rex Minerals (ASX:RXM) - CEO, Richard Laufmann (right) - The Market Herald

CEO, Richard Laufmann (right)

  • Rex Minerals (RXM) has revealed it spent much of the December quarter focused on advancing and extending its Hog Ranch assets in Nevada, U.S.
  • The exploration company has released its latest quarterly report for Q2 FY21, showing it managed to triple its landholding claims at the site
  • The new landholdings cover a significantly larger trend which was recently defined at Hog Ranch through geophysical and survey work 
  • In addition to the new claims, Rex also completed drilling at the Bells and Krista projects within the Nevada site 
  • Financially, the company spent just over $2 million on operating expenses over Q2 with most of that money going towards exploration and evaluation works
  • Rex ended the period with $9 million worth of cash in the bank, slightly down on the $10.4 million it had at the end of Q1 FY21

Rex Minerals (RXM) spent much of the December quarter focused on advancing and extending its Hog Ranch assets in the U.S. state of Nevada.


The exploration company has released its latest quarterly report for Q2 FY21, showing it managed to triple its landholding claims at the site.


The new landholding claims cover a significantly larger trend which has been identified at Hog Ranch through recent geophysical and survey work.


Several drilling campaigns have also been completed at the Bells and Krista Projects within the U.S. asset, extending the known gold strike length at Krista.


Additionally, the drilling at Bells confirmed the presence of silver at the project with a consistent silver to gold average ratio of around five-to-one.


Along with the progress at Hog Ranch, Rex also began financing discussions and wider community engagement for its Hillside Copper Gold Project in South Australia.


In terms of finances, the materials stock spent just over $2 million on operating expenses over Q2 with most of that money going towards exploration and evaluation works.


Rex ended the period with $9 million worth of cash in the bank, slightly down on the $10.4 million it had in cash reserves at the end of Q1 FY21 but enough cash to keep it going for an additional 4.45 quarters.



Read the full article on The Market Herald here.

VIDEOS

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REX INTERVIEW WITH THE MARKET HERALD



Rex Minerals hits pay dirt at Hog Ranch, Nevada. Hear from Richard Laufmann, MD on the latest results. Source: The Market Herald, December 2020


Richard Laufmann presents Rex Minerals at Noosa Mining Conference 2020



Rex Minerals Hog Ranch Director, Cherie Leeden talks Hog Ranch Gold target increase and significant resource upgrade, November 2020



Rex Minerals presents at Beaver Creek Precious Metals Conference - September 2020





Take 2mins and get to know Hog Ranch, Nevada USA - Rex Minerals Corporate Video Update - September



Richard Laufmann and The Market Herald Dealroom - September 2020



Hog Ranch Gold Property, Nevada USA - RC Drill Program - August 2020





Rex Minerals commences stage 2 drilling at Hog Ranch - The Market Herald Live - August 2020





Rex Minerals Makes Strides at Copper and Gold Projects - The Market Herald Live - July 2020





Investor Updates with Richard Laufmann, MD Rex Minerals - PEPR approval and Qtr Results for Rex - July 2020





Noosa Mining Investor Presentation with Richard Laufmann, July 2020





Investor Updates with Cherie Leeden, Hog Ranch Director - Rex Minerals 




Rex releases Bells Scoping Study at Hog Ranch Gold Property in Nevada with Richard Laufmann, MD Rex Minerals - 12/06/2020





Investor Updates with Richard Laufmann, MD Rex Minerals - 18th May 2020




RXM CONFIRMS SIGNIFICANT GOLD IN NEVADA

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Rex Minerals (ASX:RXM) confirms significant gold extensions at Hog Ranch

Mining

ASX:RXM    MCAP $47.02M


Source: The Market Herald, November 2020


·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. 

Read the full article on The Market Herald

HOG RANCH DRILLING RESULTS EXPAND GOLD

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Successful Hog Ranch drilling results confirm and expand gold position at Bells Project

ASX Release 19th  October 2020


Rex Minerals Ltd has received assay results (second batch) completing the 7 hole drill program at the Bells Project (Bells). This is part of the recent 21 hole RC drilling program at Rex’s Hog Ranch Gold Property, Nevada, USA (Figure 1). Results from the Krista drill program are expected within the next 2-3 weeks.


SUMMARY

 Robust and consistent gold mineralisation from near the surface including: o 93m @ 0.46g/t from 32m (true width of ~83m) from HR20-003, including:

 19.8m @ 0.69g/t from 35m and 18.3m @ 0.71g/t from 71.6m
o 70.1m @ 0.4g/t from 9.1m (true width of ~63m) from HR20-002, including:

 7.7m @ 1.0g/t from 21.3m
o 147.8m @ 0.34g/t from 12.2m (true width of ~134m) from HR20-005

  •   Expansion potential – Bells Mineral Resource remains open along strike and at depth

  •   Silver mineralisation, first identified in the 2019 drilling, has returned a consistent Silver

    to Gold ratio of around 5:1

  •   Silver has the potential to further upgrade the economics

  •   Higher grade feeder/vein hosted gold at depth remains open and untested

  •   The assay results received at Bells confirm continuity of the gold mineralisation to allow for subsequent upgrades to the Mineral Resource

  •   Cultural Survey and Geotechnical Survey underway, paving the way for permitting


The objective of the drilling program at Bells was to enable further conversion of the Inferred Mineral Resource into the higher confidence category of an Indicated Mineral Resource for use in a Feasibility Study.


Managing Director, Richard Laufmann, said: “These drilling results successfully expand on our 2019 results. We are now confident that silver will likely improve the project economics, AND the drilling has highlighted the opportunity for us to grow the shallow heap-leachable Resource in the north-eastern portion of Bells, in addition to an attractive lode gold style target at depth.


“Without doubt, they confirm our geological model and provide the data to improve our confidence in the overall Mineral Resource.”


Read the full ASX Release Here

REX SECURES APPROVAL FOR HILLSIDE PEPR

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Rex secures SA Government approval for Hillside PEPR

ASX Release 24th July 2020


Rex Minerals Ltd is pleased to advise that the Program for Environment Protection and Rehabilitation (PEPR) for the Hillside Copper-Gold Project (the Hillside Project) on the Yorke Peninsula in South Australia (SA), has been formally approved by the SA Government.


Approval of the PEPR for ML 6438, EML 6439 and MPL 146, submitted on 18 September 2019, PEPR No. MPEPR2018/008 is in accordance with Section 70B(5) of the Mining Act 1971 (the Act).


Rex’s Managing Director and CEO, Richard Laufmann, said: “Approval of the PEPR is a critical and strategic step in the development of the highly-prospective Hillside Copper-Gold Project.”


In expressing our genuine thanks to the SA Government as well as to the local community, it is appropriate to comment on the extensive and exhaustive engagement within a rigorous process, ensuring that we have achieved a new benchmark in environmental and social stewardship.


Representatives from the “Hillside Mine Community Voice” and the Narungga Nation stand out amongst the vast complex of stakeholders engaged over the many years.


This approval comes at a critical juncture for South Australia, indeed the nation. The COVID-19 pandemic has decimated our economy in ways none of our generations could have experienced. Mining developments like the Hillside Project will be a critical bedrock in the nation’s recovery, providing opportunities for wealth creation in the trifecta of local community jobs and business opportunities, government royalties and taxes, and shareholder returns.


The Hillside Project dovetails neatly into the SA Government’s plans in establishing South Australia as a world-leading copper precinct. Copper is one of the fundamental elements that is crucial to the electrification of everything. As the transition to an electrified world gathers momentum, Hillside is well placed to feed into that exciting and emerging thematic.


As is standard practice, a copy of the PEPR will be published via the SA Government’s Department for Energy and Mining and Rex’s websites in coming days.


Mr Laufmann added: “It would be remiss of me not to acknowledge the exhaustive efforts of so many people – staff, consultants and indeed Rex shareholders – for their persistence, diligence and patience over the period of PEPR compilation, consideration and approval.”


“This is the time for nation building – Go Australia!”


Read the full ASX Release Here

NEVADA MORE GOLD THAN THE PILBARA

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7th June 2020 - The Market Herald 


Rex Minerals (ASX:RXM) and heap leaching: the low-cost, high-profit operation disrupting the world of gold
Hog Ranch Gold Project, as it was set up and operated by WMC circa 1989.

California has long held its reputation as the Golden State of America — first due to the gold rush of the mid-1800s and more recently thanks to the Golden State Warriors' basketball success.


However, while California's reputation has stuck fast (a gold rush is, after all, a gold rush), raw U.S. gold production figures suggest the nickname is no longer as accurate as it once was. Rather, the bordering state of Nevada long ago overtook California as the country's leading gold producer — and by quite some distance.


According to data from Visual Capitalist, Nevada produced 5.58 million troy ounces of gold over 2018 compared to California's 0.14 million troy ounces.


Moreover, Nevada produces more gold per million square kilometres than anywhere else in the world, eclipsing prolific countries like Australia, Ghana and South Africa.


Yet, most of the gold coming out of Nevada is produced from low-grade deposits, meaning it's a type of gold that you can’t even see in the rock. While, historically, producers may have turned up their noses at a deposit with less than one gram per tonne (g/t) of gold, it's this type of deposit that has unlocked the riches under Nevadan soil over the past several decades and is poised to help the state retain its leadership position in coming years


Recent low level surface exploration at the Bells Project, Hog Ranch Property

The low-grade revolution

It all comes down to two key factors: the process used to extract gold from mined ore, and the rock characteristics of the region. Ore is defined as the rock (or mineralisation) from which gold can be profitably extracted.


Both Western Australia and Nevada are big gold provinces globally. They are proven, safe jurisdictions, and are well-supported and resourced. However, Australian and Nevadan ore is very different.


In Australia, our conventional gold metallurgical and processing methods, combined with the nature of our ore, mean low-grade deposits are generally sub-economic due to expensive processing required to extract the gold.


The nature of Nevadan geology, on the other hand, means ore is treated very differently. Gold producers in the area are able to take advantage of a process known as heap leaching. Nevada was the “birthplace” of modern gold heap leaching in the late 1960s.

Essentially, the process involves irrigating a pile of crushed gold-bearing ore with a solution designed to "leach" the precious metal from the rest of the material. It is a low-cost and simple process which allows producers to access the gold easily and cheaply.


The process is not a new discovery, either. Heap leaching is outlined in Georgius Agricola's De Re Metallica, which was published in the mid-1500s. For more than 50 years, astute Nevadan miners have adapted this tried-and-tested process and found a way to make it highly profitable. 


Heap leaching needs just 0.3 tonnes of water for one tonne of ore. Essentially, once the ore has been mined, it is generally crushed and heaped together on a lined pad. A solution is then washed through the pile to dissolve the metals and collect in a pond or a tank. From here, the solution can be processed to recover the metals, with the leftover liquid able to be recycled and reused in a new ore heap.


This type of low capital and operational expenditure processing is ideal for low-grade deposits of roughly 0.3 g/t to 0.8 g/t gold. Although, at the current gold price of almost US$1800, even 0.2 g/t deposits can be economically viable. It is like mining a quarry or, as some tongue-in-cheek mining engineers might describe it, “gardening".


Heap leaching processing facilities are relatively quick to construct and, importantly, milling is not required for crushing and agglomeration, meaning heap leaching uses far less power than conventional extraction techniques, which contributes to its very low operating cost.


This makes low-grade deposits incredibly profitable and is the reason mining giants like Barrick, Newmont and Kinross are all hungry for multi-million-ounce deposits of around 0.5 g/t gold in places like Nevada.


What about the ASX?

Interestingly, most major Australian gold companies are yet to pick up on the heap leaching trend and are still more focussed on striking high-grade gold across our country's promising goldfields.


While it's true that based on Australian metallurgical and processing practices a deposit of 0.5 g/t gold would be nothing to write home about, there is money to be made wherever you can find it if the metallurgy stars are aligned, as they are in Nevada.

Junior explorer Rex Minerals (ASX:RXM) noticed the potential of low-grade ore in the States and subsequently snatched up a full interest in the Hog Ranch Gold Property in July 2019


Lying near world-class deposits like Sleeper and Midas in Nevada, Hog Ranch has a recently-updated Mineral Resource Estimate of 97.6 million tonnes of mineralisation with an average grade of 0.45 grams per tonne for 1.4 million ounces of gold. 

Moreover, a recent scoping study of the Bells prospect, which accounts for less than a third of the company’s Hog Ranch gold resource, outlined all-in sustaining costs (AISC) of US$902 per ounce with a 1.9-year payback from the start of development. This makes Bells a first-stage development able to bring in some early cash flow so the company can focus on the much larger Hog Ranch property. 


Hog Ranch displays some striking similarities to SSR Mining's Marigold mine, which has a defined resource of almost five million ounces with similar grades to what's been discovered at Hog Ranch.


This means Rex's new project has the potential to fit the bill of the highly sought-after deposits in Nevada from the world's biggest miners.


What's more, it's not CEO Richard Laufmann's first time taking on heap leaching. In a fortunate meeting of moments, Richard used to work with a former great Australian gold mining company, Western Mining Corporation, where he was the boss of its St Ives gold operations near Kalgoorlie in WA in the late 1990s.


In that role, he led the successful introduction of heap leach extraction which operated profitably to treat low-grade ore through to 10 years ago. St Ives still operates under owner Gold Fields, with heap leach having served its purpose.

By taking advantage of heap leach techniques in the U.S., Rex is now positioning itself in a unique position on the ASX as one of few miners celebrating low-grade gold ore.


For investors, this means it's perhaps time to view gold mining from a different perspective.

Yes, the nature of Australian ore means most low-grade projects are sub-economic. However, understanding heap leach technology and how to take advantage of Nevadan soil is a crucial step to keeping up with the next era of gold mining.


The question, then, remains: how long will Australian investors shy away from offshore low-grade heap-leachable gold deposits before the opportunity to profit from them is snapped up by others? It appears U.S. and Canadian investors are stealing a march on this space.


Read the full article on The Market Herald

REX MINERALS INVESTOR PRESENTATION

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REX MINERALS INVESTOR PRESENTATION

ASX Release 6th June 2020



View the full presentation here: ASX Release 6th June 2020 






NEW LARGE-SCALE GOLD AT HOG RANCH

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New large-scale Gold Trend emerging at Hog Ranch

ASX Release 1st July 2020


Ongoing field work and research by Rex Minerals Ltd (Rex or the Company) at the Hog Ranch Property (Hog Ranch) in Nevada USA, has shown potential for gold mineralisation on a much larger scale than originally anticipated.


Key findings and actions

  • Geological features that are common to the style of gold mineralisation found at Hog Ranch are interpreted to extend over an area that is more than five times the size of the combined historically mined area (0.3Mozs) and current Mineral Resource area (1.4Mozs – see ASX announcement dated 12 May 2020).

  • Rex interprets these features to be related to a series of repeating structures which exist along a broad gold trend which appear to be controlling the gold deposition at Hog Ranch.

  • Within this gold trend, Rex is exploring for two economically significant target types:

    • Shallow, large-scale gold mineralisation amenable to low-cost (open cut) mining and heap leach processing, and
    •  High grade vein hosted gold mineralisation, underneath the shallow gold positions, as evidenced by many high-grade historical drill intercepts including drill hole 95-031 with 6.1m @ 61.8g/t gold (~3m true width) and drill hole 89-042 with 9.1m @ 19.7g/t gold (~3m true width).
  • Rex has followed up this work by more than doubling its land position at Hog Ranch.

  • Rex is now mobilising to commence drilling in Q3 2020 with a focus on both the shallow
  • disseminated gold and the underlying high-grade gold targets.

Rex’s Managing Director, Richard Laufmann, said: “Our outlook and options for Hog Ranch have evolved and grown substantially. It all started with the initial review of a small-scale start-up project at Bells, and now we see a much larger suite of targets following a very large trend.


“Beyond the shallow heap leach gold potential at Hog Ranch, there are quite a number of tasty historical high-grade gold hits that are screaming out to be followed up. If the scale of shallow gold at Hog Ranch is anything to go by, the potential for high-grade vein-hosted gold at depth could deliver equally, if not more exciting, prospects for Rex.”


Evidence for regional gold potential at Hog Ranch

The geological features that are linked to the historical mining area and the current Mineral Resource at Hog Ranch are found to exist over a broad area beyond the current limits of the Mineral Resource. These features support the interpretation that there are multiple epithermal deposit types which could host significant gold mineralisation and which appear to occur along a defined corridor or trend 


The information that has led Rex to this interpretation is the combined presence of geological alteration features such as hydrothermal silica with surrounding clay minerals or alteration features in the surface rocks, overlapping geochemical anomalies and the coincidence of favourably-oriented fault intersection points.


The above features are observed in greatest intensity along a broad corridor or trend which cuts through the dominant volcanic host rocks at Hog Ranch. At this stage, Rex has limited the scope of its regional exploration work to the local host rocks which are part of a large volcanic caldera known as the Cottonwood Creek Volcanic Center (CCVC) 


As part of the gold mineralisation at Hog Ranch, there exists two distinct target types which are common for this type of deposit in Nevada. The target types are vastly different from each other in terms of their location, size, grade and subsequent mining and processing options.


Large-scale, shallow disseminated gold target type

The historical mining area at Hog Ranch and current Mineral Resource along with a larger series of well-supported exploration targets near the surface (less than 200m deep) are all based on flat-lying disseminated gold mineralisation 


Where this gold mineralisation has been weathered, the gold particles within the permeable host rocks are easily recovered using heap leach processing methods (used in historical mining at Hog Ranch) as is common practice throughout Nevada. In addition, the near-to-surface and flat-lying nature of the gold mineralisation at Hog Ranch means that open pit mining with low strip ratios can be employed.


A combination of higher gold prices, larger economies of scale and very low operating costs has enabled Rex to consider the definition and economic evaluation of a much larger volume of gold mineralisation than was possible during the historical mining period when the gold price was averaging circa US$330/oz.


The recently completed Bells Scoping Study has highlighted that even as a small-scale gold operation, the economics of mining shallow disseminated gold mineralisation at Hog Ranch appear very attractive (see ASX announcement dated 9 June 2020).


Read the full ASX Release Here

ABOUT REX MINERALS

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ABOUT REX MINERALS

View Rex Minerals Website Here


Rex has the Hillside copper-gold development Project in South Australia and the Hog Ranch gold Property in Nevada, USA


Rex Minerals is a Gold and Copper explorer with strategically placed prospects in mineral rich Nevada, USA and reviving the Yorke Peninsula in South Australia. 


With drilling underway at the Hog Ranch property in Nevada, a world class gold region and the Hillside project, a highly prospective target – Rex Minerals is positioned to lead the market to production at both its sites using innovative mining techniques like Gold Heap Leaching and a wealth of data and experience to get the job done. 


Hillside Project

Rex's Hillside Project is situated 12km south of the township of Ardrossan on the Yorke Peninsula, South Australia. Copper-gold mineralisation was first discovered at the Hillside Project by Rex in 2008 and the Company subsequently raised the funds required to drill out the deposit and ultimately complete a Feasibility Study in 2015. Rex holds an approved Mineral Lease for the Project. 

Hillside 2015 Feasibility Study


Key outcomes of the Hillside 2015 Feasibility Study include:

  • A stand-alone copper-gold project with an initial 13+ year mine life at a processing rate of 6Mtpa.

  • Annual average production over the first 12 years of 129,000 tonnes of copper concentrate containing payable metal of:

    • 35,000 tonnes of copper; and

    • 24,000 ounces of gold.


  • A processing head grade of 0.66% copper and 0.17g/t gold over the first 12 years of production.

  • Pre-production capital investment of A$480 (US$360) million and average operating costs (C1) of US$1.61/lb of copper (includes by-product credits).

  • NPV(8%) of A$188 million (post tax) and an IRR of 14% under the base case assumptions.

  • A construction workforce of close to 500-550.


The simplified and streamlined plan delivers a wide range of operational benefits, including:

  • Smaller start-up footprint;

  • Significant reduction in operating fleet;

  • Simpler process flowsheet and material handling complexity;

  • Lower ramp-up rate plus a more manageable production rate that leads to reduced economic risk; and

  • Significantly higher equipment productivities.



Hog Ranch Property

Rex announced in August 2019 that it had completed the acquisition of the Hog Ranch Gold Property in Nevada, USA. The Rex Board considers that this investment into highly prospective gold mining claims in a mining friendly jurisdiction is an attractive, strategic fit with our flagship asset, the Hillside Copper-Gold Project in South Australia. It immediately diversifies the Company's commodity spread and geographical spread. 


This investment offers Rex shareholders immediate exposure to the gold sector in one of the world's most well-endowed gold regions. 


The Hog Ranch Gold Property provides camp-scale opportunities for small and large low-grade surface gold projects in addition to exciting high-grade underground epithermal gold deposits.


Rex released its Maiden Mineral Resource for the Hog Ranch Gold Property on 2 September 2019. A copy of the Mineral Resource can be found here or on the Investors page, along with copies of all relevant ASX Announcements.


On 29 January 2020, Rex announced a Mineral Resource update for the Bells Project.  A copy of the Mineral Resource update for Bells can be found here


View Rex Minerals Website Here

RXM TO BENEFIT FROM COPPER RUN

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Rex Minerals is ready to benefit from a spike in the Copper Market.


Discover the massive potential at their flagship Hillside Project in South Australia here: https://hotcopper.com.au/threads/ann-rex-minerals-investor-presentation.5603402/

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