QX Resources (ASX: QXR) reports lease area expansion for Bayrock’s Vuostok project

September 21, 2023 05:48 PM AEST | By Sonal Goyal

QX Resources (ASX: QXR) reports lease area expansion for Bayrock’s Vuostok project — Image source: Company update

Recent News

UBS initiates coverage of these food stocks

Bacardi Marks Earth Day With Spotlight on Latest Sustainability Effort...

Decrease in Canada-US travel and overseas arrivals in February 2025

Imricor Commences VISABL-VT Trial

Highlights

Mineral lease area at Bayrock’s Vuostok project has expanded by nearly 33%, taking the total lease area to almost 130km².

The project lease expansion follows the recently reported encouraging results at Vuostok project.

In the new extended lease area, historical boulder samples with encouraging Ni-Cu sulphide mineralisation are located.

QX Resources Limited (ASX: QXR) shared that Bayrock Resources Limited has expanded the Vuostok nickel-copper project lease area by nearly 33% in northern Sweden after the addition of Nr 102 lease (covering 34km²). This increases the total lease area to approximately 130km².

The expansion follows the recently reported encouraging nickel-copper grades in eight drill holes at the Storbodsund prospect of Vuostok.

QXR holds 39% of unlisted public Australian company Bayrock Resources Limited.

Details about the new extended lease area

Previous exploration at the extended lease area has described four boulders with nickel-copper mineralisation. In 2008 and 2009, historical sampling was conducted by amateur collectors under the Swedish Geological Survey’s (SGU) annual mineral hunt competition. The sampling indicated that boulder samples contain chalcopyrite and pyrrhotite in coarse-grained gabbro.

The samples were also assayed by the SGU and were validated onsite.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.