MinRex engages Keystone Gold for field program at East Pilbara
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
MinRex Resources (ASX:MRR) today announced that it has engaged renowned consultancy group, Keystone Gold Pty Ltd, for a seven-day field program. The program will include site inspections and metal detecting on MRR’s five highly prospective licences in WA’s East Pilbara region, some of which have conglomerate gold potential.
Site inspection will assist the company in determining which projects to target, and to plan for further exploration and a potential drilling program in 2018.
As MRR announced in late November, there are historical workings at some of the project areas, including previous rock chip samples of 30 grams per tonne of gold (Norm’s Find) and 1.28 grams per tonne (BC07). These historical workings and records have been assessed by both MRR and the consultants to help determine areas to target during the seven-day program.
MRR is acquiring a 70 per cent interest in each of the tenements via a binding heads of agreement (HoA) through controlling entities.
The five new Pilbara gold tenements (Source: MinRex Resources)
After reviewing historical workings, public records and consulting with MRR, the Keystone consultants will begin by orientating themselves at the Dalton’s Creek area and the Norm’s Find region. This will enable them to conduct prospecting activities at what they deem to be the most highly prospective areas for alluvial gold and conglomerate hosted gold potential.
At the same time, it’s worth noting that this is an early stage play and investors should seek professional financial advice if considering this company for their portfolio.
Major gold discoveries nearby
Notably, Novo Resources Corp (ASX:CVE), Haoma Mining NL (ASX:HAO) and Artemis Resources Ltd (ASX:ARV) have all recently announced landmark gold discoveries in surface conglomerate horizons in the Pilbara.
Correspondingly, MRR’s Bamboo Creek, Marble Bar and Daltons projects are strategically located, adjacent to projects owned by HAO. HAO recently revealed the presence of gold-prospective conglomerate horizons similar to those of the Witwatersrand in South Africa, located within the Fortescue Group in its project areas at Bamboo Creek and Marble Bar.
CVE also holds tenure near Marble Bar and Bamboo Creek, and is targeting Witwatersrand-style auriferous conglomerate at the base of the Fortescue Group, specifically the base of the Mount Roe Basalt, and has had success at the Purdy’s Reward and Comet Well prospects in the West Pilbara.
Source: MinRex Resources
MRR non-executive chairman, Dr James Ellingford, said: “This program is an essential step for identifying which tenements we should focus on... in one of the most prospective gold regions in the world today. Recent announcements by Novo Resources Corp, Haoma Mining NL and Artemis Resources Ltd show they continue to view the Pilbara region positively for discovering an economical gold deposit on their projects.”
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
