RC Drilling Recommences at Turner River Lithium Project
Perth, Feb 16, 2023 AEST (ABN Newswire) - QX Resources Limited (
ASX:QXR) is pleased to advise that it has recommenced RC drilling at the Company's 100%-owned Turner River hard rock lithium project, located 15 km to south-east of Mineral Resources' Wodgina lithium mine, located within the Pilbara lithium province of Western Australia (Figures 1 & 2*).
In December 2022, QXR undertook a ~1,200m maiden RC drill program at Turner River. The maiden program produced encouraging indications of significant areas of potential lithium bearing pegmatites observed in drill pads and drill chips at QXR's 100%-owned Turner River hard rock lithium project (Carbonate Hill prospect). These indications extend beyond the area with previously reported high grade rock chip samples of 1.6% Li2O, 1.1% Li2O and 4.9% Li2O (refer QXR ASX announcements 8 Nov, 10 Nov, 12 Dec and 30 June 2022).
Pegmatites and potential lithium rich micas were intersected in the maiden drilling, based on visual observations, which achieved the aim of the maiden drill program. Drilling targeted the potential for either lithium mica and spodumene bearing pegmatites, or a new style of large tonnage hard rock lithium deposit hosted near the top of a large granite body rich in lithium micas.
Assay results from the first phase of the program are anticipated in mid-February. Results from the follow-up program are expected ~6 weeks after completion of the program.
Grant of Yule River Project (E45/6159)
The Yule River project (140km2) has been granted for an initial 5-year term. The Yule River project is an exploration stage package which lies wholly within the Yule Granitoid Complex, which has interpreted pegmatite occurrences (Figure 5*). From initial due diligence, the Company understands the granite within the tenement has been intruded by the Split Rock Supersuite with which the Wodgina, Pilgangoora and Global Lithium deposits are associated.
All of the tenements applied for by the Company are now fully granted in the highly-prospective Pilbara lithium region, following the grant of Yule River.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/GD8C164O
About QX Resources Ltd
QX Resources Limited (ASX:QXR) is focused on exploration and development of battery minerals, with hard rock lithium assets in a prime location of Western Australia (WA), and gold assets in Queensland. The aim is to connect end users (battery, cathode and car makers) with QXR, an experienced explorer/developer of battery minerals, with an expanding mineral exploration project portfolio and solid financial support.
Lithium hard rock portfolio: QXR's lithium strategy is centred around WA's prolific Pilbara province, where it has four projects in strategic proximity to some of Australia's largest lithium deposits and mines. Across the Pilbara, QXR's regional lithium tenement package (both granted or under application) spans more than 350 km2.
Lithium brine: QXR drilling and geophysics indicate the existence of a large brine basin at the Liberty Lithium Brine Project USA and geological similarities confirmed with the nearby Silver Peak lithium brine producer Albemarle, in Clayton Valley Nevada. QXR holds an Option to Purchase Agreement to earn-in to 75%.
Gold portfolio: QXR is developing Central Queensland gold projects through a 70% agreement with Zamia Resources Pty Ltd and also on a 100% basis. The gold and copper-gold-moly projects are strategically located within the Drummond Basin, a region that has a >8.5moz gold endowment.
Nickel sulphides: QXR has a significant 39% shareholding in unlisted public Australian company Bayrock Resources Limited, which has a portfolio of highly prospective battery minerals assets in Sweden, primarily in nickel, cobalt and copper. QXR is assisting Bayrock with project development and financing initiatives.
| ||
|
