MinRex Resources : Spodumene Discovered over 3 MRR Pilbara Lithium Projects

ASX Code: MRR

15 MARCH 2022

ASX Release

For personal use only

SPODUMENE DISCOVERED OVER 3 MINREX PILBARA LITHIUM

PROJECTS

Exploration program and application for ground proofing & drilling underway

HIGHLIGHTS

• Large pegmatites hosting visible Spodumene, Lepidolite, Tourmaline, Tantalite, Cassiterite, Kunzite identified over the Tambourah North, Leavers Well and Twin Well Project areas.
• Tambourah North Project hosts large, stacked pegmatites over 1.5km length by 150m in width.
• Tambourah pegmatites housed in the Soansville Group Formation hosting Pilbara Minerals (ASX-PLS) Pilgangoora Lithium Deposit 226Mt @ 1.29% Li2O & Mineral Resources (ASX-MRL) Wodgina Lithium Deposit 236MT @ 1.2% Li2O.
• Tambourah pegmatites stacked at surface in goldilocks zone in the Granite-Greenstone Pilbara Craton Super Suite-Soanville Group Formation and have visible coarse and fine grained Spodumene & Lepidolites with zoning along strike and across strike.
• Leavers Well pegmatites host visible extensive coarse-grained tourmaline, albite rich with green Spodumene laths and acicular Spodumene in large pegmatite dyke over 450m wide and 1.5km strike length.
• Twin Wells Prospect extensive stacked pegmatite swarms over 650m wide & historically mined form Tantalum containing Beryl, Corundum and Kunzite (lithium oxide) as found at Tabba Tabba Tantalum Deposit Western Pilbara WA.
• 16 rock chip samples recovered from reconnaissance, with assays pending.
• No modern exploration drilling for Lithium has ever been carried out within the tenement areas.
• Minrex advancing Heritage Agreement and Native Title Surveys over Marble Bar Lithium Projects
• Planning for RC Drilling underway to test pegmatites over all 3 project areas.
• MinRex well-funded $5.1M cash on hand to commence Lithium exploration in the Pilbara.

MinRex Resources Limited (ASX: MRR) ("MinRex" or "the Company") is pleased to announce the second ground reconnaissance field program over MinRex new acquired Lithium Projects in the East Pilbara of WA.

About the Reconnaissance Field Trip

Lithium expert geologists Mr George Karageorge, Mr Pedro Kastellorizos along with Dr Darren Holden and Mr Ian Shackleton, (founding Geologist of the Global Lithium Resources ASX-GLIArcher Lithium deposit in Marble Bar) conducted a helicopter reconnaissance program over the Tambourah North Lithium Project, Haystack Well Lithium Project, and the Coondina South Lithium Projects.

_________________________________________________________________________________

MinRex Resources Limited	ABN 81 151 185 867
Tel [phone]	Email [e-mail]

Level 11 216 St Georges Terrace Perth WA 6000

www.MinRex.com.au

ASX Code: MRR

MinRex Resources Limited Non-Executive Director Mr Karageorge commented:

For personal use only

"We are delighted to have identified spodumene within extensive outcropping pegmatites over 3 Projects areas. These rich spodumene stacked pegmatites have extensive width, strike and zoning which have all the hallmarks of a potential Archer Lithium Deposit.

MinRex is currently working on the first RC drill program to test the extensive stacked pegmatites over all 3 project areas with a view of signing the drilling contractor to undertake drilling over the projects once all approvals have been issued.

Tambourah North Lithium Project

Tambourah is located approximately 200 km south southeast of Port Hedland and 80km southwest of Marble Bar within the Pilbara Mineral Field. Access is via the Great Northern Highway or the Marble Bar - Port Hedland Road and the connecting Woodstock - Hillside Road. In 2013 Altura Mining Limited identified outcropping lithium mineralisation hosted within pegmatites. Initial investigation of the licence for rare metal mineralisation suggests that lithium is present as lepidolite in pegmatites located along the granite-greenstone margin. The dykes are up to 1 km in strike and 100 meters width and trend east-west across the dominant structural trend at Tambourah. 2

During the reconnaissance, a series of stacked pegmatites hosting spodumene striking 3300 over 1 km with approximately 50m in width were located within the greenstone belt. Acicular-lepidolite-albite-muscovite rich pegmatites were located on the contact zone between the Petroglyph Gneiss and Apex Basalt greenstone belt.

Zoned Spodumene-lepidolite-albite-muscovite rich pegmatite Dykes

Granite-

Pegmatite

Contact

Geologists

Up to 50-100m visible width Goldilocks zone stacked Pegmatite

Pegmatite visible strike up to 1km to 1.5km from ground and air

Photo 1 - Tambourah North Prospect showing a wide 100 m wide stacked pegmatites running southerly direction

hosted within the Greenstone Belt - Photo looking North

_________________________________________________________________________________

MinRex Resources Limited	ABN 81 151 185 867
Tel [phone]	Email [e-mail]

Level 11 216 St Georges Terrace Perth WA 6000

www.MinRex.com.au

Sample MRR028

ASX Code: MRR

Coarse

For personal use only

Spodumene

Muscovite	Fine grained acicular Spodumene in
	albite-muscovite Pegmatite Dykes

Photo 2 -Zoned50m wide pegmatite with coarse and acicular fine grained Spodumene from Tambourah North

Haystack Well Lithium Project Area

The tenement is located 170km north of Newman, and 35km south of Nullagine, accessed via Marble Bar Rd. The project includes historic tantalum alluvial workings (MINEDEX registration S0029250) - a strong indicator of localised LCT pegmatites. Within the central portion of the tenement, pegmatite hosting microcline-muscovite-altered green micas was located within a granite greisen. The Twin Wells Alluvial Prospect showed strong extensive stacked swarms pegmatites striking within a southerly direction over 650 metres. Several rock chip samples were collected from the pegmatites for assaying. Samples over the historic Twin Wells alluvial tailings have also been sampled for assaying.

Microcline-Muscovite Pegmatite Dykes

Approx 650m in length by 260m wide

Twin Wells Historic Mine (beryl-corundum-tin-tantalum)

Photo 3 - Twin Wells Alluvial Tantalum Prospect showing 3 stacked pegmatites running southerly direction hosted

within the Bonny Downs Granite Formation

_________________________________________________________________________________

MinRex Resources Limited	ABN 81 151 185 867
Tel [phone]	Email [e-mail]

Level 11 216 St Georges Terrace Perth WA 6000

www.MinRex.com.au

ASX Code: MRR

Coondina South Lithium Project

For personal use only

The Coondina South Project is located approximately 20km south of the historic Coondina Tin Field, and 18km north of the East Pilbara Iron Project/Cloud Break Mine owned by Fortescue Metals Group (FMG). The reconnaissance concentrated mainly over the Leavers Well South Prospect were extensive tourmaline rich spodumene pegmatites were located along the low-lying areas through the upper ridges of the Hamersley Basin Sediments. These pegmatites are located with the goldilocks zone where the geological settings are favourable for lithium mineralisation.

Spodumene-Albite-Tourmaline-Quartz Pegmatite Dykes

Photo 4 - Levers Well South Prospect (Coondina South Project) showing series of stacked pegmatites approx.

300m in width striking east-west direction over 1 km

Sample MRR044

Sample MRR045

Sample MRR043

Tourmaline

Coarse Spodumene

crystal

Photo 5 - Leavers Well South Prospect pegmatite hosting abundant spodumene-tourmaline-quartz

_________________________________________________________________________________

MinRex Resources Limited	ABN 81 151 185 867
Tel [phone]	Email [e-mail]

Level 11 216 St Georges Terrace Perth WA 6000

www.MinRex.com.au

ASX Code: MRR

For personal use only

Figure 1 - MinRex Lithium Project Location Map highlighting the recent rock chip sample locations - see Table 1 for

AMG Coordinates

_________________________________________________________________________________

MinRex Resources Limited	ABN 81 151 185 867
Tel [phone]	Email [e-mail]

Level 11 216 St Georges Terrace Perth WA 6000

www.MinRex.com.au