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Highlights
- QX Resources (ASX:QXR) has recommenced reverse circulation (RC) drilling at its Turner River hard rock lithium project.
- The program is aimed at extending the areas of known mineralisation over an increased strike length.
- Last year, the maiden drilling indicated the presence of potential lithium rich micas and pegmatites, based on visual interpretations.
- Assays from the maiden drilling campaign are expected in late-February, while assays from the latest RC drilling are anticipated in April.
- The company has secured the Yule River tenement for an initial term of five years.
QX Resources (ASX:QXR) is back on the ground at its 100%-owned Turner River hard rock lithium project, recommencing reverse circulation (RC) drilling. The project, which sits within the Pilbara lithium province of Western Australia, is approximately 15km to south-east of the Wodgina lithium mine owned by Mineral Resources (ASX:MIN).
The ongoing drilling program of approximately 1,500m is aimed at extending the areas of known mineralisation over an increased strike length.
The new work follows a ~1,200m maiden RC drill program conducted across Turner River in December last year. Based on visual observations, the program highlighted the presence of potential lithium rich micas and pegmatites.
Additionally, the company has secured the Yule River project for an initial 5-year term.
Overview of maiden drilling at Turner River
During the maiden drilling program, the company highlighted that significant pegmatite areas were observed in drill chips and drill pads. The encouraging indications surpassed the area of high-grade lithium rock chip results that was sampled previously. To know more about this development, read here
QXR expects to receive assays from the maiden drilling campaign in late-February, while assays from the ongoing program are anticipated in April 2023.
Grant of Yule River tenement
The company has also updated on the grant of the Yule River tenement for an initial term of five years. The tenement spread over an area of 140km2 is an exploration stage package.
Located within the Yule Granitoid Complex, the Yule River project has interpreted pegmatite occurrences. The Split Rock Supersuite intrudes the granite within the tenement, suggests the company based on the initial due diligence. It is to be noted that the Global Lithium, Pilgangoora and Wodgina deposits are linked with the Split Rock Supersuite.
With the latest tenement grant, QXR has secured all of the tenements applied for in the highly prospective Pilbara lithium region.
QXR shares were trading at AU$0.044 in the early hours of 17 February 2023.
