REX Minerals has made a “spectacular” find at its Hillside project on South Australia’s Yorke Peninsula.
According to the company, recent drilling has discovered copper, gold and uranium deposits with characteristics similar to those at Olympic Dam and Prominent Hill.
Rex Minerals director, Steve Olsen, says the find comes as a “major milestone” and indicates the company is on the “right track towards discovering larger nearby resources”.
Mineral Resources Development minister, Paul Holloway, says the find shows the South Australian mining industry is “weathering the international economic storm” by tapping into the state’s “huge mineral potential”.
Rex Minerals is now working to locate the highest copper concentration in the area with the view of establishing a new mining project.
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