Quarterly Activities Report
Perth, Oct 31, 2023 AEST (ABN Newswire) - QX Resources Ltd (
ASX:QXR) holds four 100% owned hard-rock lithium projects, covering 355km2, strategically centred around Western Australia's prolific Pilbara province, hosting some of Australia's largest lithium deposits.
QXR projects are Turner River (E45/6042 & E45/6065), Western Shaw (E45/4960 & E45/6107), Split Rock (E46/1367) and Yule River (E45/6159).
Pegmatites were identified outcropping at Western Shaw and Split Rock during the September quarter, as part of a month-long program of surface rockchip sampling and further geological mapping across all four hard rock lithium projects. This program focused on the key target of the contact zone between greenstones and granitoids known to be permissive for lithium mineralisation of the Split Rock Supersuite with which the Wodgina, Pilgangoora and Global Lithium deposits are associated.
Detailed high-resolution airborne geophysics was also undertaken at the Turner River Project, including detailed spectral image analysis around areas of pegmatites.
Once assays have been received, the Company plans to follow up the sampling program with extensive trenching and sampling across new areas of interest prior to follow-up drilling.
Previously, at the Turner River hard rock lithium project (E45/6065, E45/6042), located 15km to south-east of Mineral Resources' Wodgina lithium mine, an initial drilling program confirmed a lithium mineralisation halo, around high surface lithium grades recovered from 5-15 kg sample blocks of lithium rich micas together with pegmatites. Sampling will be extended near the recently drilled area.
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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.
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