QX Resources (ASX:QXR) wraps up phase two trenching at Red Dog ahead of RC drilling

Highlights:

• QX Resources has wrapped up the phase two trenching program at its high-grade gold prospects, Big Red and Red Dog in central Queensland.
• The recently completed program follows the success of the previous two campaigns, highlighting high-grade gold mineralisation.
• The phase two trenching program was expanded by 10 additional trenches to further the strike potential of gold mineralisation.
• QXR is gearing up for its maiden RC drilling program at Red Dog.

QX Resources Limited (ASX:QXR) has marked a major step with the completion of the phase two trenching program at the Red Dog and Big Red prospects in Queensland. This campaign is expected to give the company a clearer indication of the resource potential at the prospects.

The campaign was expanded after the maiden 370-metre trenching program at the Big Red gold prospect highlighted multiple intersections of high-grade gold mineralisation across a large strike area. The ASX-listed company recommenced the expanded phase two trenching program in during the quarter after a pause due to unfavourable weather conditions.

QXR has sent the samples collected to ALS Laboratories in Brisbane.

For more information about the company's operations, click here.

Overview of expanded phase two trenching program

Ten additional trenches of up to 2m deep were excavated to further the strike potential of gold mineralisation across the prospects. The cumulative length of these trenches was 860m.

Highlights from the phase one trenching:

• Base of Trench (Hard rock):

The trenching characterises the mineralisation as open at depth, with mineralisation remaining open to the Southwest and the Northeast. The trenching results also highlight the possibility of mineralisation extending to the west. The strike length interpreted over Big Red till now is 232m.

Source: QXR update, 31 August 2022

• Sub Surface (loose pebbles-lag): 

Source: QXR update, 31 August 2022

Highlights from phase two suspended trenching:

The program was paused until the end of the wet season after only completing an initial 40m of trenching in late 2021.

• 1m @ 11.25 g/t Au within 11m @1.88 (22m to 31m along trench)
• 3m @ 2.0 g/t Au within 8m @1.27g/t (3m to 11m along trench) including 3m @2.02 and 1m @2.9 g/t

RC drilling at Red Dog on cards   

The outcomes from the recently completed campaign and the previous trenches would enable the team to plan and commence an extensive reverse circulation drilling campaign across the Red Dog prospect as a follow-up program.

The company plans to undertake the drilling campaign later this year.

QX Resources’ market capitalisation stood at AU$27.49 million, and its shares closed the day’s trade at AU$0.030 on 31 August 2022.