MinRex Resources Limited announced that West Cobar Metals Limited has successfully completed a reverse circulation drilling program at the Fraser Range Project in Western Australia, approximately 120 km north-east of Esperance. The program involved nine drill holes totaling 1,958 meters, targeting five high-priority prospects known for IOCG and Broken Hill Type mineralization. The targets, which display geological similarities to deposits in north-west Queensland and Broken Hill, are being tested for copper, gold, and other base metals. Assay results are expected in early August 2025, with a detailed assessment of the data to follow before any further work programs are considered. Under the terms of an earlier agreement, MinRex Resources Limited holds an option to acquire a 50% interest in the project, provided it exercises this option within three months after receiving the assay data. This planned acquisition reflects the company’s confidence in the potential of the prospect, building on previous exploration efforts and geophysical surveys. Technical details of the drilling program were provided, including specific information on drill hole locations, azimuths, dips, and depths. The project’s exploration process adhered to established industry standards, employing rigorous sample logging, recovery assessments, and quality control measures in line with JORC Code guidelines. The use of a 146mm diameter face sampling hammer mounted on a Schramm T450 track-mounted RC drill rig further underscores the technical rigor applied throughout the operation. The project area lies on Vacant Crown Land within the Ngadju Native Title Claim, ensuring that all relevant mineral tenements are in good standing. Past exploration by several companies has added to the geological understanding of the region, and detailed geophysical survey data helped define the conceptual targets being tested. The comprehensive documentation of sampling, drilling, and assay protocols enhances transparency and supports future resource estimation. Bullish sentiment is supported by the successful execution of the drilling program without incident, the strategic option to acquire a 50% interest, and the promising geological context similar to well-known deposits. Investors may view the impending assay results as a potential catalyst for positive developments, reflecting cautious optimism about the project’s base and precious metals potential. Conversely, a bearish perspective highlights the early-stage nature of the exploration, with the inherent risks and uncertainties associated with unreleased assay data and the possibility of extended drilling requirements before a viable resource can be defined.