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Rex Minerals Ltd.
Summary
| Project: | Hog Ranch | |
|---|---|---|
| Deposit: | Bells | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 1/29/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-1-2020: Rex Minerals Ltd. announces a Resource Estimation report for its Bells deposit at the Hog Ranch project. Upgraded mineral resource estimate at Bells. Rex Minerals Ltd (Rex or the Company) is pleased to announce an increase to the Mineral Resour | |
| Resources: | (Resource, I+I): 24.4Mt @ 0.53g/t Au at Bells | |
| CP/QP: | [Resources]: Steven Olsen (Internal) | |
| ABSTRACT: | Rex Minerals Ltd (Rex or the Company) is pleased to announce an increase to the Mineral Resource estimate for Bells which is situated some 5km away from the larger Krista Project area, on the southern portion of Hog Ranch located in Nevada, USA (Figure 1). Bells is a subset of the earlier Maiden Mineral Resource estimate for the whole Hog Ranch Property (see ASX release dated 2 September 2019). The Bells area was also mined by WMC as part of its open pit mining and heap leach operations at Hog Ranch which ceased in 1992 (Figure 5). The Mineral Resource estimate at Bells is based on a large historical drill hole database in conjunction with a recent RC drilling program completed by Rex in late 2019. The recent drilling has enabled the Company to significantly upgrade its understanding of the distribution of gold at Bells relative to its host rock geology. In addition, Rex has been able to compare the new block model against the historical production records to further test the validity of the data which was used to create the updated Mineral Resource. The geological distribution combined with low costs associated with a heap leach operation both support our selection of the more appropriate cut-off grade of 0.2g/t Au to the Mineral Resource estimate. This is also comparable with other similar open pit and heap leach gold operations in southwest USA. | |
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