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QX Resources’ (ASX: QXR) share price jumps on Vuostok Nickel-Copper project update

August 01, 2023 11:06 AM AEST | By Sonal Goyal
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 QX Resources’ (ASX: QXR) share price jumps on Vuostok Nickel-Copper project update
Image source: Company update

Highlights

  • QXR has reported massive sulphide mineralisation near the surface at the Vuostok Nickel-Copper project owned by Bayrock.
  • Assay results from the diamond drilling program across 17 holes are expected late in August.
  • QXR has supported Bayrock with the development and financing of Vuostock and its other projects.

QX Resources Limited (ASX: QXR) has reported an encouraging update concerning the Vuostok Nickel-Copper project held by Bayrock Resources Limited in Northern Sweden.

Bayrock, in which QXR has ~39% holding, hit massive sulphide mineralisation during diamond drilling at the Storbodsund prospect within the project.

QXR is engaged in developing and exploring battery minerals with a hard rock lithium portfolio in Western Australia and gold assets in Queensland.

Data Source: Company update

Bayrock has completed drilling of 17 holes at the Storbodsund prospect (508m), and assay results are anticipated late in August.

QXR shares jump

QX Resources’ shares traded at AU$0.029 apiece, 7.407% higher from the previous close, at the time of writing on 1 August 2023.


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