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

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


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