Next Investors logo grey

MRR reports ‘excellent’ gold rock chip sample results from East Pilbara Projects


Published 09-FEB-2018 09:58 A.M.


3 minute read

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 Limited (ASX:MRR) this morning announced that it has received ‘excellent’ assay results for ten rock chip samples collected from the Marble Bar project.

The samples were collected from the project’s P45/3039 tenement during a mid-December site inspection, field trip evaluation, and technical due diligence of the East Pilbara Projects. During this site visit all of the projects that MRR is currently in the process of acquiring were visited.

The map below identifies the company’s East Pilbara Project area.

minrex resources tenements map

MRR decided to collect rock chip samples as metal detecting was impractical in this area due to the presence of scrap metal scattered on the surface, adjacent to numerous old workings.

The rock chips were all of vein quartz rocks collected from the surface expressions of old workings and diggings along a ridge line in the northern quadrant of the tenement area, adjacent to a significant number of historical workings that are up to 10m deep.

The highest gold value is 17.1g/t gold, while the average for all ten samples is 2.6g/t gold with half of the samples have assay values in excess of 1g/t gold. These finding are in addition to the six gold nuggets, totalling 22.7g, in the Marble Bar P45/3040 tenement area that were located during the December 2017 field inspection, as previously reported.

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.

The field team were targeting the basal part of a conglomerate along strike from gold occurrences on the adjacent Haoma Mining (ASX:HAO) tenements. Regional mapping by the Western Australian Geological Survey has identified these conglomerates as a part of the Mt Roe Basalt, the basal part of the Fortescue Group.

The below aerial photo overview of Marble Bar project tenement P45/3039 shows the rock chip sampling area in the foreground and Haoma Mining’s Comet gold mine in the background.

marble bar conglomerate gold

As part of its ongoing initial exploration work on the Marble Bar tenements of the East Pilbara project, MRR will be looking to collect a large number of rock chip samples from along this ridge line and throughout the entire P45/3039 tenement.

This initial exploration of the East Pilbara Project areas will include the collection of a significant number of rock chip samples from the areas of old workings in P45/3040, during the proposed field work and geological mapping.

The results received to date suggest that Marble Bar’s P45/3039 and P45/3040 tenements are both highly prospective for gold mineralisation. The large number of old workings and diggings in this area, in conjunction with the excellent assay results received from these initial ten rock chip samples, is considered highly encouraging for the discovery of potentially economic gold mineralisation in this area.

MRR Executive Director, Simon Durack commented, “These excellent gold assay results from P45/3039, further enhance the prospectivity and potential of the East Pilbara project areas. We look forward to the completion of the final conditions precedent to the settlement of the acquisition of the East Pilbara tenements and commencing our exploration programs as soon as possible thereafter.



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.