Projects
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Mt Carrington
The Mt Carrington Project is situated in north-eastern New South Wales and is a 1 hour drive from the major regional township of Lismore. The Project area is centred around the small township of Drake with the main mining licences located 5km to the north. Infrastructure at Mt Carrington was established by previous mining operations and includes a tailings dam, processing plant site, freshwater dam and access to mains power.
The improved geological understanding since 1990 and more recent increases in the gold price (US$350 to over US$900) and silver price (US$5 to over US$18) have transformed the outlook and economics of Mt Carrington. Accordingly, Rex considers that a well targeted drilling program could lead to the development of a large scale gold and silver operation at Mt Carrington.
Current Mineral Resources at Mt Carringont total 190,000 ounces of gold and 10.5 million ounces of silver. The gold Resources at Mt Carrington are all less than 100m deep including 150,000 ounces of gold situated within the Kylo and Strauss deposits. Most of the gold Resource at Strauss and Kylo start at the sureface and extend to a depth of 80 metres.
Silver and Gold Resources also exist ast the Lady Hampton deposit whch lies one kilometre to the east. This deposit contains 2 million ounces of silver and 30,000 ounces of gold with extensive silver mineralisation found within the surrounding drill holes.
A large scale silver project called White Rock exists 5 kilometres west of the main proect area at Mt Carrington. White Rock has 8 million ounces of silver Resources, with drilling beyond the existing Resource indicating the prescence of a much larger silver deposit. Rex is planning to test the extent of the silver at White Rock over a 1 kilometre sqaure area, which if successful, would make the White Rock project one of Australia's largest silver deposits.
Since 1990, the geological understanding of ‘epithermal style’ deposits such as Mt Carrington has increased substantially. This followed the discovery of several epithermal deposits in north-eastern Australia, including Pajingo (+4 Mozs gold), Cracow (+1.2 Mozs gold) and Wirralie (+0.8 Mozs gold). This style of deposit commonly hosts high grade gold mineralisation underneath a series of smaller shallow gold deposits. Therefore, it is considered that the greatest potential at Mt Carrington exists at depth beneath the extensive shallow gold and silver mineralisation.
