MinRex Resources (ASX:MRR) eyes strategic copper gold opportunity at Fraser Range with drilling now complete

MinRex Resources (ASX:MRR) has successfully completed reverse circulation drilling at the Fraser Range Copper Gold Project in Western Australia.

The program tested five high priority geophysical targets considered prospective for Iron Oxide Copper Gold (IOCG) and Broken Hill Type (BHT) base metal systems.

With nine holes drilled across a range of anomalies and assays expected in early August, investor interest in the project continues to grow.

To provide further insight, MinRex has addressed some of the most common investor questions about the program’s objectives, project potential and what lies ahead.

What was the goal of the recent drilling at Fraser Range?

The purpose of this program was to test five highly ranked geophysical targets that had been identified through detailed magnetic, gravity and electromagnetic surveys.

These targets were selected because they showed characteristics that align with copper, gold and base metal mineralisation, specifically IOCG and BHT systems.

“A total of nine RC drill hole for 1,958m successfully completed across multiple prospects, including Talisker, Glenmorangie, Benriach, Oban and Glendronach to test 5 priority copper gold and base metals (IOCG and BHT style targets).”

This was a first pass program aimed at gathering geological information and setting a baseline for understanding the subsurface potential across the tenements.

What makes Fraser Range a compelling project for MinRex?

Fraser Range offers significant exploration upside in a region that has already delivered notable mineral discoveries.

It sits within the Albany Fraser Mobile Belt, an established geological province that hosts the Nova Bollinger nickel copper deposit.

The host rocks in this area are similar to those seen at Mt Isa and Broken Hill, which are both well known for their base and precious metal endowments.

For MinRex, this project expands our footprint into Western Australia and provides exposure to a broader range of mineral systems beyond our existing New South Wales assets.

The structural complexity, geophysical targets and favourable host lithologies all combine to create a high quality exploration opportunity.

What is the nature of the relationship between MinRex and West Cobar?

MinRex has secured an option to acquire a 50 percent interest in the Fraser Range Project from West Cobar Metals.

“The drilling program was conducted by West Cobar, and we would like to thank Matt and the team for their efforts in undertaking the program successfully and without incident.”

Under the terms of the agreement, MinRex has three months from the date of receiving the assay results to make a decision on whether to exercise the option.

This structure provides flexibility and ensures that any decision is guided by sound technical data and a clear understanding of the project’s potential.

When will we know more about the drill results?

Assay results are expected in early August 2025.

Once we receive the results, our technical team will undertake a comprehensive review of the assay data alongside the existing geological and geophysical information.

This will help us assess whether any of the drill holes intersected mineralisation that fits with the IOCG or BHT styles we are targeting.

This review will be critical in shaping the next phase of our involvement in the project and will underpin our decision on whether to proceed with acquiring a formal interest in the Fraser Range assets.

What are the potential next steps if the assay results are positive?

If the assays confirm mineralisation consistent with our targets, there are several clear steps we could take.

The first would be to formally exercise our option and move forward with acquiring a 50 percent interest in the project.

Beyond that, we may look to plan follow up drilling to expand on any encouraging results, explore continuity along strike, or test depth extensions.

“We look forward to working with West Cobar once assays are received to evaluate the results and future work programs.”

We would also assess the remaining untested geophysical anomalies across the tenements and determine if they merit inclusion in future drilling campaigns.

While this is still early stage exploration, a strong set of results could open the door to a much larger and more focused exploration program in the region.

Looking Ahead

The successful completion of drilling at Fraser Range marks an important step in MinRex’s strategy to build a diversified, high quality exploration portfolio.

With the assays now pending, the focus shifts to data analysis and technical review, which will support an informed decision on the potential acquisition of a 50 percent stake in the project.

Fraser Range complements our New South Wales gold portfolio and positions us in one of Western Australia’s most prospective exploration corridors.

We look forward to updating shareholders once the assays are received and the evaluation process is underway.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.