MinRex Resources Limited has announced the receipt of assay results from its recently completed reverse circulation drilling program at the Fraser Range Project, managed by West Cobar Metals Limited. The program, conducted approximately 120 kilometers northeast of Esperance in Western Australia, involved nine drill holes for a total of 1,958 meters designed to test five priority geophysical targets in the Biranup Zone. This zone is recognized for its potential to host Iron Oxide Copper Gold (IOCG) and Broken Hill Type (BHT) mineralisation. While the drilling did not return significant copper or gold values, the assays showed encouraging near-surface results for rare earth elements (REE), titanium dioxide (TiO2), and scandium (Sc). Notable highlights include a 27-meter intercept at Benriach recording 2.23% TiO2 and 102ppm Sc2O3, and multiple intervals at the Talisker target with REE values reaching up to 1,037ppm TREO. The company’s technical director noted that despite the lack of traditional copper or gold mineralisation, the critical minerals results justify further detailed review before deciding on next steps. MinRex has three months from the receipt of these results to exercise its option to earn a 50% interest in the exploration licences and attained mineral rights over specified ground. The drilling employed robust reverse circulation techniques with 1-meter composite sampling and standard quality control measures to ensure representative assay data. All data, including detailed drill collars and cross-sectional figures, has been provided to support independent review and decision-making regarding future exploration work. Market sentiment may be weighed in both directions. On the bullish side, the discovery of significant REE, TiO2, and Sc intercepts in multiple targets emphasizes the project’s potential for critical minerals, which are in high demand in today’s market, enhancing the company’s exploration portfolio. Furthermore, the opportunity to earn a substantial interest in these tenements could generate additional value if further exploration confirms the wider economic potential of the basement-hosted mineralisation. Conversely, the bearish outlook stems from the absence of traditional copper and gold intercepts, which were part of the initial exploration targets, and the early-stage nature of the findings. Investors may also note the inherent risks and uncertainties associated with exploring in regions that require further work to delineate true mineralisation extents.