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Rex Minerals Upbeat on Hillside Potential

Rex Minerals (ASX:RXM) claims to have discovered of one of Australia’s largest copper / gold deposits in the last decade with 1.2 million tonnes of copper and 1.1 million ounces of gold.

The Managing Director of Rex Minerals, Steven Olsen said that the project was a significant copper deposit with a realistic potential of emerging as a commercial copper mine.

He also said that it reconfirmed the company’s original thesis that the geological terrain that they were exploring which included the Moonta mines, Olympic Dam, Prominent Hill and Carrapateena deposits is Australia’s most well endowed copper belt.

The Hillside project south of Ardossan is now under a feasibility study for developing the mine. The study should be ready in 2 years to determine if the copper and gold prospect in Yorke Peninsula in South Australia will be the latest mine that Rex Minerals will develop.

As of now, hopes ride high for the company as its managing director said that a number of other prospects in the area were yet to be tested by the company for copper mineralization. There will be five drilling rigs at work in the Hillside project over the next full year trying to determine the size of the resource that has been discovered.

Joel Scanlon

Written by

Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.

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