MinRex Resources has announced the discovery of 14 new exploration targets at its Mt Pleasant Project, located within the Lachlan Fold Belt in New South Wales.
The project spans a 167km2 area located 30km south of Mudgee.
MinRex engaged Merlin Geophysics to review and interpret geophysical and geological data, leading to the identification of multiple high-priority targets.
The exploration team identified numerous prospective areas for skarn or orogenic gold, porphyry molybdenum, tungsten, and copper, as well as vein-hosted polymetallic mineralisation.
Field reconnaissance, soil sampling, and ground geophysical surveys are planned for the remainder of 2024, focusing initially on six high-priority target areas.
"The study confirmed the prospectivity of existing known mineralisation and identified several high-priority areas for a staged and targeted exploration program," stated Ian Shackleton, technical director of MinRex Resources.
Three high-priority targets—MTP002, MTP003, and MTP004—have been identified along the same trend as the established Mt Pleasant Mo-W deposit.
The areas are prospective for polymineralic vein and orogenic gold mineralisation styles.
The Aarons Pass / The Crown Mine area, including targets MTP010, MTP012, and MTP013, also shows promise for skarn or orogenic gold mineralisation.
Moving forward, MinRex will conduct field reconnaissance to inspect each of the new targets, followed by grid-spaced soil sampling and induced polarisation geophysical surveys.
The company aims to further rank and prioritise the targets for potential drilling.
MinRex Resources is an Australia-based battery metals explorer with lithium-tin-tantalum projects in the Pilbara region of Western Australia.
At the time of reporting, MinRex Resources’ share price was $0.01.