Minrex Eyes 1.5km Mineralised System as Maiden Greenfield Drilling Begins
Key Takeaways
- Minrex has commenced maiden greenfield drilling at the Tlamino Project's Western Expansion target as of September 2026, marking the first systematic test of mineralisation beyond the known Barje deposit.
- The Barje infill program — 33 holes for 3,398 metres — was completed on schedule and within budget, with assay results for holes BAR043 to BAR051 expected imminently from ALS.
- The greenfield program plans 33 holes for approximately 6,604 metres across three targets: Western Expansion, Eastern Expansion, and the Barje-Liska Corridor.
- Over 1km of untested conglomerate-covered ground between the Barje and Liska deposits is the critical test — connecting them would create a single mineralised system exceeding 1.5km in strike length.
- Four material catalysts are anticipated within the same quarter: progressive infill assays, first greenfield results, maiden JORC resource estimate, and Scoping Study commencement targeted for October 2026.
Minrex transitions to discovery drilling at Tlamino with maiden greenfield program
Minrex Resources (ASX: MRR) has commenced maiden greenfield exploration drilling at the Tlamino Project in Serbia, marking a strategic shift from resource definition to discovery-focused activity. The move follows the successful completion of the Barje infill program, with drilling now underway at the Western Expansion target as of September 2026.
The Barje infill program delivered 33 holes for 3,398 metres, completed in three months from commencement, on schedule and within budget. Holes averaged approximately 103 metres downhole, reflecting the shallow, near-surface nature of the deposit. The company has now pivoted to its greenfield program, which plans 33 holes for approximately 6,604 metres across three distinct targets. CEO Max Piirto has described the coming period as Minrex’s “most transformational quarter of 2026.”
The greenfield pivot reflects a broader Serbian mining expansion strategy that Minrex has been building since the appointment of CEO Max Piirto, whose mandate centres on accelerating project advancement across the company’s Balkan portfolio.
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Barje infill complete — maiden JORC resource estimate on the horizon
The Barje infill program was confirmed as completed safely, on schedule and within budget, validating Minrex’s execution against its Growth and Execution Plan. Assay results for the next batch of infill holes (BAR043 to BAR051) are expected imminently from ALS and will be reported progressively as received.
Updated geological modelling has commenced, and the maiden JORC (2012) Mineral Resource Estimate remains on track for completion following receipt of the final infill drilling assays. Tenders for the Scoping Study are progressing, with awards targeted to enable commencement in October 2026.
Max Piirto, Chief Executive Officer
“Our team has delivered the Barje infill program efficiently and in line with our Growth and Execution Plan schedule… we are well placed to shortly deliver our maiden JORC Mineral Resource Estimate.”
The key upcoming milestones are:
- Infill assays (BAR043–BAR051): expected imminently
- Maiden JORC (2012) Mineral Resource Estimate: post receipt of final assays
- Scoping Study commencement: targeted October 2026
- Greenfield drilling results: coming months
Understanding the Tlamino greenfield targets — what the company is looking for
To understand why this transition matters, it helps to know what greenfield drilling actually means. Infill drilling defines what is already known — it fills gaps within a deposit to build confidence in resource estimates. Greenfield drilling tests entirely new ground, seeking mineralisation that has never been drilled before.
At Tlamino, all historical drilling has been confined largely to mineralisation that outcrops at the surface. The greenfield program is the first systematic test of the system beyond that exposed mineralisation.
The Tlamino Project itself entered Minrex’s portfolio through the merger with Electrum, a transaction that reshaped the company into a focused gold explorer with a multi-asset Serbian footprint and set the foundation for the current drilling campaign.
The geological case for expansion rests on the Barje-Liska system. Barje and Liska are interpreted as two hydrothermal centres (points where mineral-bearing fluids once rose through the Earth’s crust and deposited metals) of a single mineralised system, linked by a common detachment fault and steep feeder structures. Barje carries a gold-silver signature in the Upper Schist above the detachment, while Liska carries a lead-zinc-silver signature in the Lower Schist below it — a metal zonation consistent with a single zoned epithermal system (a type of ore deposit formed at shallow depths from low-temperature hydrothermal fluids).
The critical gap is the corridor between them: over 1km of conglomerate-covered ground between the two deposits has never been drilled. If drilling successfully connects them, it would link two separately discovered deposits into a single mineralised system extending over more than 1.5km. That is a material change in project scale, not an incremental one.
The program draws on more than 70 years of historical exploration data and is supported by 35.6 line-kilometres of induced polarisation (a geophysical survey technique that detects sulphide minerals underground by measuring how rock responds to electrical current) across 22 lines at Barje and Liska. The existing drilled footprint at Barje is 700m × 250m, covering a structural intersection that remains open beyond this.
| Target Name | Location | What It Tests | Supporting Data | Status |
|---|---|---|---|---|
| Western Expansion | Along trend west of Barje deposit | Extension of the shallow structural intersection controlling the Barje breccias, including follow-up to historical hole BAR025 (mineralised sulphidic breccia, never followed up) | Coincident soil geochemical anomaly (Au, As, Sb) and untested IP chargeability response ~2km west of deposit | Drilling commenced September 2026 |
| Eastern Expansion | Along trend east of Barje deposit | Structurally complex zone where steep north-south faulting is most strongly developed; highest concentration of Au, Ag, As and Sb within existing deposit | Multi-element soil geochemistry and IP chargeability support | Planned — 2026 program |
| Barje-Liska Corridor | Between Barje and Liska deposits | Over 1km of untested ground testing whether the two deposits form a single connected mineralised system exceeding 1.5km | Soil geochemical grid and IP survey; elevated chargeability over historically drilled portion of Liska | Planned — 2026 program |
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Catalysts ahead — why the next quarter matters for investors
The convergence of near-term milestones at Tlamino represents an unusually dense news flow period for a company of Minrex’s size. Four material catalysts are anticipated over the coming months:
- Progressive infill assay results (BAR043–BAR051) — expected imminently
- First greenfield drilling assay results
- Maiden JORC (2012) Mineral Resource Estimate
- Scoping Study commencement, targeted October 2026
Each of these represents a standalone catalyst. The fact that they are anticipated within the same quarter, with Minrex tracking against its stated Growth and Execution Plan, amplifies their collective significance.
Max Piirto, Chief Executive Officer
“Minrex is entering what we expect to be its most transformational quarter of 2026… we look forward to updating shareholders as each milestone is delivered.”
Success along the Barje-Liska corridor would represent a material re-rating of the project’s scale. Linking two separately discovered deposits into a single system exceeding 1.5km is not incremental resource growth — it is a structural step-change in the asset’s potential that the market would need to revalue from the ground up.
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