Company News Summary
Rex Minerals Announces Upgrade to Copper Resource at Hillside
Original announcement: Upgrade to Copper Resource at Hillside
Rex Minerals announced a 33% increase in the contained copper to 2Mt (4.4bn pounds) has reaffirmed the Company's 100% owned Hillside copper project on the Yorke Peninsula, SA. This is the fourth Resource update in two years with further growth anticipated from extensions that are interpreted to exist at depth and to the north of the existing resource. The JORC-compliant Mineral Resource estimate consists of 330Mt @ 0.6% Cu, 0.16g/t Au and 13.7% Fe, for a CuEq grade of 0.8%. This equates to a total of 2Mt Cu, 1.7Moz Au and 44Mt iron ore. The new high-grade component is 116Mt @ 0.9% Cu (1.2% CuEq). Over the coming months, this Mineral Resource will be used in the open pit design and production schedule, with the results for the pre-feasibility study due later in 2012.
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