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QX Resources (ASX: QXR) reports promising iron ore samples at Western Shaw, plans detailed sampling

February 21, 2024 01:34 PM AEDT | By Sonal Goyal
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Highlights

  • From Western Shaw, rock chip samples have returned ion ore grades of up to 58.8%.
  • Iron ore rock chip samples were gathered over 4km of Banded Iron Formation, which extends 8km.
  • Following a detailed review of previous exploration, a new sampling program is planned.

QX Resources Limited (ASX: QXR) plans to undertake a comprehensive sampling program over its Western Shaw iron ore project, Pilbara, Western Australia. Previous reconnaissance rock chip samples at Western Shaw have indicated iron grades of up to 58.8% from outcrop, extending to a distance of 4km.

Rock chip samples were gathered over 4.4km of Banded Iron Formation (BIF) covering chert horizons but spans 8km within the Western Shaw leases. The southern extensions are held by Rio Tinto and FMG Group.

New sampling program planned in upcoming quarter

A detailed review of previous exploration activities at Western Shaw was conducted by QXR, and recently only iron ore potential was evaluated as the company targeted the areas for pegmatites. Over the BIF sequences, potential for enriched surface iron ore exists, informed QXR.

In the coming quarter, the company plans to conduct a new sampling program of 250m spaced rock chip traverses over the full 8km outcropping BIF sequence. Subsequently, costeans are planned to identify drilling targets.

Previous work at Western Shaw

Over 15 years ago, work was undertaken by Atlas Iron that returned rock chip results of up to 62.3% Fe. Moreover, Atlas had intersected up to 57.4% Fe in RC drilling within oxidised goethitic ironstone. However, planned reconnaissance drill campaign by Atlas was never concluded, as indicated by the WA mines dept reports.

Recent rock chip sampling by QXR indicates 3km of untested strike length to the south of previous rock chip sampling and drilling.

QXR shares traded at AU$0.019 apiece at the time of writing on 21 February 2024.


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