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Kalkine Media ASX Share Market News & Research

QX Resources (ASX: QXR) shares jump as first hole intersects brines at Liberty Lithium project

December 14, 2023 12:37 PM AEDT | By Sonal Goyal
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QX Resources (ASX: QXR) shares jump as first hole intersects brines at Liberty Lithium project
Image source: Company update

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Highlights

  • Brines have been intersected in the first of the two diamond drill holes planned at the Liberty Lithium project.
  • The first hole has been drilled to a depth of 369m.
  • Diamond drilling at the second hole will commence in coming days.

QX Resources Limited (ASX: QXR) has shared an encouraging update on drilling activities advancing at the Liberty Lithium Brine Project, located in the USA. The company confirmed that brines have been intersected in the first of the two diamond drill holes planned at the project. Brine sampling of the first hole is in progress and lithium assay results are expected within six weeks.

The first drill hole has been finalised at a depth of 369 metres. The target horizons have been intersected at 329m and 49m depth. Down the length of the hole, fine grained sediments, gravels and coarse alluvial fan material were intersected. Currently, large brine volumes are being pumped.

Drilling at the second diamond hole is set to begin in the coming days, informed QXR.

QXR shares jump

Shares of QXR jumped 4.34% to trade at AU$0.024 apiece at the time of writing on 14 December 2023.

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