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PROJECTS

Marble Bar South

The Marble Bar South Project licence (P45/3039) comprises a single prospecting licence of 8.26 hectares, which was granted on the 2 July 2018, for a period of four years. The lease is 11km south of Marble Bar Township, on the main Marble Bar-Hillside Road, and has a weak old track running through the lease, a fifteen minute drive from Marble Bar.

MinRex Resources Limited completed its first site inspection, field trip evaluation and technical due diligence of the East Pilbara Projects in mid-December 2017. On this initial visit a total of ten rock chip samples were collected from P45/3039.

Rock chip samples were collected; due to metal detecting being problematic as there was significant scrap metal on surface within the tenement.

These rock chips were on a ridge adjacent to a significant number of historical workings that are up to 10m deep. Table 1 below details the location and assay results of these initial ten samples and Figure 3 is an aerial photo of the P45/3039 tenement showing the location and assay results from the December 2017 rock sampling relative to historical workings.

During the May 2018 exploration program, a total of 40 rock samples were collected to add to the ten collected in December 2017 at the Marble Bar South Project area (P45/3039). The lease has a line of old workings running along a 30-40m high ridge of greenstone rocks.

The old mine was known as McKays Find and the mineralisation occurs as a 2m wide zone of pyritic-fuchsite-carbonate rock, with associated quartz veining. The mined zone was 100m long, 0.5-2m wide, strikes at 010o and dips at 70-90o to the east, the ore shoot plunges east/southeast, parallel to the intersection of fracturing and regional schistosity.

Aerial photo of P45/3039 with December 2017 rock samples and historical workings
Aerial photo of P45/3039 with December 2017 rock samples and historical workings

The 40 rock samples from the Marble Bar South Project were collected from old mine workings, spoil piles and outcropping quartz veins. The samples were analysed for a total of 20 elements at Bureau Veritas in Perth; these included gold, silver, arsenic, cobalt, copper, chrome, bismuth, iron, lithium, manganese, molybdenum, nickel, lead, antimony, tin, tellurium, thorium, uranium, tungsten and zinc.

A few samples were anomalous in various elements but the outstanding results were in the gold assays which varied from 7ppb Au up to 47.6g/t Au, with an average for all 40 samples of 4.16g/t Au, and 14 of the 40 samples assaying over 1.0g/t Au.

The full assay results for gold and base metals are in Table 2, with the gold results also shown on the plan below. The full results were detailed in the ASX release of the 21 June 2018.

The next phase of field work at the Marble Bar South Project will closely mirror that at the Marble Bar North Project, comprising further rock sampling, soil sampling in colluvium and soil covered areas and detailed geological mapping to better understand this gold mineralised system.

It is probable that this work will also be completed in the next few months during the current field season in the Pilbara.

Marble Bar South Project P45/3039 showing workings and May 2018 gold assay results
Marble Bar South Project P45/3039 showing workings and May 2018 gold assay results

Table 1: Marble Bar South Project – December 2017 Rock Sample Assay Results

Sample No. Easting m Northing m Au ppm Ag ppm As ppm Cr ppm Pb ppm Cu ppm Ni ppm Zn ppm
MSR001 783816 7648191 1.57 1 143 495 10 607 198 26
MSR002 783816 7648191 1.48 0.55 68 145 9 80 57 15
MSR003 783799 7648140 0.19 0 34 225 1 5 74 24
MSR004 783799 7648140 0.13 0.1 96 1050 0 65 211 42
MSR005 783800 7648132 0.50 0.15 94 305 4 14 106 27
MSR006 783791 7648114 0.72 0.15 117 455 1 98 204 52
MSR007 783801 7648101 2.20 0.15 418 360 1 60 150 74
MSR008 783792 7648092 17.1 0.8 185 480 2 44 197 60
MSR009 783780 7648070 0.47 0.05 43 430 1 11 162 40
MSR010 783763 7648065 1.34 0.15 40 140 1 28 55 19

Table 2: Marble Bar South Project – May 2018 Rock Sample Assay Results

Sample No. Easting m Northing m Au ppm Ag ppm As ppm Cr ppm Pb ppm Cu ppm Ni ppm Zn ppm
MSR011 783818 7648193 1.8 0.5 177 305 22 74 99 21
MSR012 783818 7648193 0.6 1.1 56 30 5 152 30 7
MSR013 783802 7648145 2.7 0.2 72 605 3 16 258 21
MSR014 783802 7648145 0.2 0.0 58 345 0 26 123 15
MSR015 783791 7648148 5.0 0.3 59 200 1 35 74 24
MSR016 783789 7648151 45.9 2.1 777 230 511 540 232 132
MSR017 783785 7648153 0.0 0.0 17 95 3 3 23 13
MSR018 783790 7648139 0.2 0.0 12 25 3 8 11 4
MSR019 783788 7648095 0.6 0.2 144 270 2 102 109 26
MSR020 783788 7648095 1.3 0.3 396 950 6 85 378 91
MSR021 783791 7648092 10.7 0.5 44 145 1 37 60 20
MSR022 783788 7648099 0.1 0.0 21 350 0 14 145 10
MSR023 783788 7648099 0.2 0.0 103 1940 2 64 722 59
MSR024 783788 7648099 0.1 0.0 90 740 0 91 284 77
MSR025 783855 7648097 0.0 0.0 11 45 0 2 29 24
MSR026 783848 7648098 0.0 0.0 3 440 2 28 199 40
MSR027 783788 7648088 0.0 0.0 11 55 0 2 22 10
MSR028 783804 7648079 0.6 0.0 34 155 0 7 61 14
MSR029 783805 7648081 1.2 0.2 93 640 3 31 253 50
MSR030 783796 7648079 5.4 0.1 113 300 1 8 134 33
MSR031 783786 7648073 0.2 0.0 20 90 0 6 30 9
MSR032 783778 7648068 0.1 0.0 73 255 2 11 167 36
MSR033 783778 7648066 0.2 0.0 11 115 0 4 51 17
MSR034 783778 7648067 1.4 0.2 76 855 2 36 289 69
MSR035 783777 7648067 47.6 2.0 9 50 0 36 23 14
MSR036 783766 7648078 30.8 1.6 56 85 1 39 54 15
MSR037 783767 7648078 0.4 0.1 23 135 0 3 40 13
MSR038 783768 7648078 0.1 0.0 37 115 0 2 74 38
MSR039 783899 7648027 0.0 0.0 0 15 1 18 54 16
MSR040 783870 7647997 0.0 0.0 1 5 1 12 52 12
MSR041 783768 7648067 3.2 0.1 10 45 0 8 20 8
MSR042 783768 7648067 1.7 0.2 131 575 6 58 129 27
MSR043 783764 7648066 4.0 0.2 7 60 2 4 35 12
MSR044 783762 7648071 0.0 0.0 5 30 2 9 22 15
MSR045 783763 7648059 0.1 0.0 19 175 1 25 103 24
MSR046 783719 7648015 0.0 0.0 6 45 0 18 17 4
MSR047 783777 7648049 0.0 0.0 12 20 0 13 31 15
MSR048 783796 7648048 0.0 0.0 2 20 0 2 11 0
MSR049 783802 7648051 0.1 0.1 51 55 1 4 24 4
MSR050 783779 7648064 0.1 0.0 24 140 0 6 71 16

PILBARA GOLD

Daltons

The Daltons Project licence (E45/4681) comprises a single exploration licence of 3 blocks, equalling about 9km2, which was granted on the 13 July 2017, for a period of five years.

Deflector Extended

The Deflector Extended Project licence (E59/1657) comprises a single exploration licence of 5 blocks, about 15km2, which was granted on the 12 July 2011, for a period of five years.

Bamboo Creek

The Bamboo Creek Project licences (E45/4560 & 4853) comprise two contiguous exploration licences, totalling 25 blocks, equalling about 75km2, which were granted on the 11 and 27 October 2017, for a period of five years.

Marble Bar North

The Marble Bar North Project licence (P45/3040) comprises a single prospecting licence of 3.025 hectares, which was granted on the 2 July 2018, for a period of four years.

Marble Bar South

The Marble Bar South Project licence (P45/3039) comprises a single prospecting licence of 8.26 hectares, which was granted on the 2 July 2018, for a period of four years.

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