MinRex Resources has secured all approvals to commence a fully funded drilling program targeting high-priority copper-gold deposits at the Fraser Range Project in Western Australia, aiming to unlock significant exploration potential.
- Heritage and DEMIRS approvals secured for drilling at Fraser Range Project
- Eight RC drill holes planned, totaling approximately 2,000 meters
- Drilling to test three IOCG and two Broken Hill type copper-gold targets
- Program fully funded by MinRex under option to acquire 50% project interest
- Drilling expected to start mid-May 2025
Strategic Drilling Approval Secured
MinRex Resources Limited (ASX: MRR) has announced that West Cobar Metals Limited (ASX: WC1) has obtained all necessary heritage clearances and regulatory approvals from the Department of Mines, Industry Regulation and Safety (DEMIRS) to commence drilling at the Fraser Range Project in Western Australia. This milestone clears the way for a focused exploration campaign targeting high-priority copper-gold mineralisation.
Targeting High-Value IOCG and Broken Hill Deposits
The Fraser Range Project covers granted exploration licences E63/2078 and E63/2083, along with mineral rights in E63/2056, situated within the Biranup Zone. This structural extension of the Fraser Zone is geologically analogous to the Nova-Bollinger nickel-copper deposit and shares age characteristics with the Iron Oxide Copper Gold (IOCG) mineralisation of the Gawler Craton. The project also holds potential for Broken Hill type (BHT) deposits, which are known for their rich copper-gold content.
Fully Funded Drilling Program to Commence
The upcoming drilling program will comprise eight reverse circulation (RC) holes totaling around 2,000 meters, distributed across five priority targets, three IOCG and two BHT. Drilling is scheduled to begin in mid-May 2025, with clearing contractors and drilling rigs already arranged to ensure a swift start. Importantly, this program is fully funded by MinRex under an option agreement with West Cobar Metals, enabling MinRex to acquire a 50% interest in the project.
Management’s Optimistic Outlook
Ian Shackleton, Technical Director of MinRex, expressed enthusiasm about the project’s prospects, highlighting the quality of the copper-gold targets and the strategic importance of the Fraser Range region. Shackleton emphasized the readiness to commence drilling immediately and the company’s commitment to keeping the market informed as results come in.
Broader Implications for MinRex
This drilling campaign represents a significant step in MinRex’s exploration strategy, complementing its existing portfolio, including the Sofala Gold Project in New South Wales. Positive drilling results could materially enhance MinRex’s resource base and market valuation, positioning the company as a notable player in Australia’s copper-gold exploration sector.
Bottom Line?
As drilling kicks off, MinRex stands poised to unlock Fraser Range’s copper-gold potential, with market eyes keenly watching assay outcomes.
Questions in the middle?
- What initial assay results will reveal about the size and grade of the copper-gold mineralisation?
- How will MinRex’s potential 50% acquisition of the project influence its strategic growth and capital allocation?
- What are the next steps if drilling confirms significant IOCG or Broken Hill type deposits?