MinRex Resources Limited announced assay results from its recent reverse circulation drilling campaign at the Fraser Range Project, located about 120 km northeast of Esperance, Western Australia. The drilling program, conducted on exploration licences where MinRex holds the right to earn a 50% interest by contributing US$500,000, comprised nine RC drill holes totalling 1,958 meters. The program targeted five geophysical anomalies—including three Iron Oxide Copper Gold (IOCG) and two Broken Hill type (BHT) prospects—identified in the Biranup Zone, a structural extension hosting the Nova-Bollinger nickel-copper deposit. While the drilling did not intersect significant copper or gold mineralisation, the results revealed encouraging intersections of critical minerals. Notably, the assay data recorded intervals in near surface saprolite with significant rare earth element (REE) enrichments, titanium dioxide (TiO2), and scandium (Sc). For instance, at the Benriach target, one drill hole returned 27 meters with 2.23% TiO2 and 102 ppm Sc2O3. At the Oban target, a 117-meter interval showcased 3.31% TiO2 and 47 ppm Sc2O3. In the Talisker area, multiple holes registered significant TREO (total rare earth oxide) values—including one interval of nine meters at 1,037 ppm TREO—highlighting the potential for REE mineralisation within the saprolite layer overlain by overburden ranging from 14 to 27 meters. The technical aspects of the exploration were robust, with detailed logging of sample recovery and drill hole positioning underpinning the quality of the assay results. Samples were collected using industry-standard protocols, including one-meter interval composite samples, with analysis conducted at a reputable laboratory. Although one target at Glenmorangie returned intersected clays bearing notable results, MinRex clarified its interest is restricted to basement mineral rights; hence, these intersections serve for completeness and comparative purposes only. Market sentiment based on the news is mixed. On the bullish side, the identification of promising REE, TiO2, and Sc intercepts in a geologically complex and prospective area offers a potential catalyst for future exploration and resource development. Investors may view the early-stage successes as a sign of untapped value, setting the stage for further drilling and the possible expansion into other complementary targets. Conversely, the absence of significant IOCG or BHT copper and gold mineralisation might temper expectations and highlight the risks inherent to early-stage exploration. Beginner traders should note that while encouraging elemental indicators could drive optimism, the project remains at a reconnaissance stage with further work needed to delineate commercial potential. Overall, MinRex Resources Limited’s drilling campaign introduces intriguing technical indicators and mineral intersections that will be further evaluated before any commitment is made to exercise the exploration option. Investors are advised to monitor upcoming developments and further detailed reviews of the data, which will provide crucial context for the project’s long-term prospects.