Bosilegrad sitting on gold – Australia’s MinRex intersects 36 meters at 5.85 g/t at Barje, planning further drilling

Australian mining company MinRex Resources (ASX: MRR) has announced results from nine new diamond drill holes at the Barje deposit, part of the Tlamino gold and silver project in southern Serbia, indicating that the central part of the deposit is significantly richer than the previous geological model suggested.

Drilling was conducted in a section of Barje previously modeled as a low-grade zone situated between two high-grade mineralized zones. The results now suggest that these two zones could represent a single, connected body of high-grade mineralization.

The best result came from drill hole BAR046, which intersected 36 meters at a grade of 5.85 grams of gold equivalent per ton (g/t AuEq) starting at a depth of 47 meters. Within that interval, there is a 14-meter section grading 7.74 g/t AuEq, including 4.2 meters at 15.67 g/t AuEq.

The company states that this is the widest and highest-grade intersection obtained to date from drilling at Barje. The result was achieved in the central part of the deposit, in an area where the previous model had predicted low-grade mineralization.

In addition to BAR046, drill hole BAR050 intersected 17.5 meters at 5.22 g/t AuEq starting at a depth of 14.4 meters, including 8.2 meters at 7.60 g/t AuEq. Drill hole BAR047 returned 18.3 meters at 4.87 g/t AuEq from a depth of 57.7 meters, including 6.5 meters at 8.53 g/t AuEq. Drill hole BAR045 intersected 10.2 meters at 4.16 g/t AuEq from 67 meters, while BAR043 returned 24.6 meters at 2.39 g/t AuEq from 50 meters, including 9.2 meters at 4.87 g/t AuEq.

MinRex CEO Max Piirto stated that the company had expected a low-grade zone separating two high-grade zones in the central part of Barje. However, the new results revealed broad intercepts of mineralization containing high-grade internal zones.

The company is now considering additional diamond drilling to better define the central high-grade zone and investigate its connectivity with the rest of the deposit. Results from the additional drilling are expected to be incorporated into a new mineral resource estimate for the project.

Existing resource of 20.84 tons of gold equivalent

The Barje deposit currently holds a historical mineral resource estimate of 7.1 million tons at an average grade of 2.9 g/t AuEq, corresponding to approximately 20.84 tons of gold equivalent.

This estimate is derived from an earlier report and has not been reported in accordance with the JORC Code. Within that resource lies a high-grade breccia body estimated at 3.2 million tons at 4.7 g/t AuEq, or approximately 14.61 tons of gold equivalent.

MinRex previously expanded its exploration drilling program to approximately 9,000 meters, encompassing both resource definition work and greenfield exploration. The company stated that the program also includes testing the area along the Barje-Liska corridor.

New JORC estimate in the fourth quarter

The latest results are set to be incorporated into the preparation of the initial JORC (2012) mineral resource estimate for Tlamino, which is expected to be released in the fourth quarter of 2026.

In addition to drilling, MinRex has launched an environmental baseline study program designed to provide data for subsequent stages of the environmental impact assessment and the permitting process.

The Tlamino project is located in southern Serbia, within the Serbo-Macedonian Massif, near the border with North Macedonia. MinRex currently holds two approved exploration licenses, Surlica-Dukat and Donje Tlamino, and has applications pending for three additional exploration licenses.

As a reminder, the merger of MinRex Resources and Electrum Discovery Corp in April 2026 created a new entity, securing funding for exploration at the Barje site.

Branislava Petrovic

Minrex

Max Piirto

Tlamino

gold exploration near Bosilegrad

gold and silver site Barje near Bosilegrad