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QX Resources (ASX:QXR) commences trenching program to test 675m mineralised gold trend

Highlights

  • QX announced the commencement of an extensive trenching program at the Big Red and Red Dog prospects.
  • The exploration program will test a 675m mineralised trend, which was defined by previous infill soil and rock-chip sampling. A Land Access Agreement has already been secured and the work on the site has commenced.
  • The maiden 22-hole reverse circulation (RC) drill program confirmed the extensions of gold mineralisation to the north and south of the historic Lucky Break mine.
  • Exploration efforts at Lucky Break, and the Red Dog and Big Red prospects are a part of QX’s strategy to aggressively ramp up exploration activity across the highly prospective project.

Perth-based minerals exploration and development company QX Resources Limited (ASX:QXR) announced the commencement of an extensive trenching program at the Big Red and the Red Dog gold prospects.

The commencement of the trench program will accelerate the exploration activities across the broader tenement package in the Clermont Goldfields of Central Queensland, following the completion of the maiden drill program at the historical Lucky Break Mine.

Also Read: QX Resources (ASX: QXR) ups stake in Zamia Resources to 70%

Big Red and Red Dog Trenching Program

Previously, an infill soil and rock-chip sampling of over 250 samples had delineated a gold anomaly over a 675m mineralised trend southwest across the Red Dog anomaly.

The company plans to excavate 6 to 8 trenches along lengths of up to 200m and a depth of 2m across the Red Dog and Big Red prospects.

Proposed RC drill locations at Red dog and Big Red prospects Source: QX Resources 6 September 2021

The results of the trenching program will facilitate the proposed RC slim line drilling program, where the Company plans to drill over 40 holes at 60 degrees up to a depth of 60m.

Aggressive follow-up exploration work at Lucky Break

Additionally, follow-up exploration programs will also commence during the week at the historical Lucky Break mine. As many as four trenches have been planned to enhance the understanding of the northern extension of the mineralised veins at Lucky Break. Channel sampling is also being conducted on the western wall of the historical pit in order to evaluate more of the mineralisation present.

Also Read: QX Resources’ (ASX:QXR) $2M capital raising to fire up gold exploration in Queensland

Location of the planned trenches at Lucky Break Source: QX Resources 6 September 2021

The maiden 22-hole reverse circulation (RC) drill program at Lucky Break confirmed the extensions of gold mineralisation to the north and south of the mine. Some of the key intercepts of the 1,500-drilling program were –

  • LB220 - 2m at 8.98 g/t Au, from 4m down hole, including 1m at 11.55 g/t Au
  • LB200 - 9m at 1.45 g/t Au, from 45m down hole, including 3m at 2.02 g/t Au and 1m at 2.26 g/t Au
  • LB219 - 5m at 1.13 g/t Au, from 61m down hole, including 1m at 3.21 g/t Au
  • LB217 - 7m at 0.82 g/t Au from 10m down hole, including 1m at 2.16 g/t Au and from 55m down hole, 2m at 2.51 g/t Au including 1m at 4.04 g/t Au.

The exploration efforts at Lucky Break, Red Dog and the Big Red prospects are a part of QX’s strategy to aggressively ramp up exploration activity across the highly prospective project. Furthermore, the aggressive exploration activity at Lucky Break is being conducted simultaneously to the significant ongoing activity at the advanced-stage Anthony molybdenum deposit.

Read Here: QX Resources (ASX:QXR) to accelerate Anthony molybdenum project development

QX Resources closed at AU$0.014 a share on 6 September 2021 with a market capitalisation of AU$9.32 million.

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