- After a pause due to weather conditions, QX Resources (QXR) has recommenced an expanded phase two trenching program at the Big Red gold prospect in Queensland
- QXR managed to complete 40 metres of the 60 metre trenching and was able to confirm the initial phase two trench hosts similar lithology to the maiden trench program
- The program will include eight of the 10 trenches across the Big Red and Red Dog anomalies
- Once the phase two program is completed, QRX plans to undertake reverse circulation drilling on key targets in the second half of 2022
- QXR shares are up 4.35 per cent and trading at 2.4 cents at 1:33 pm AEST
QX Resources (QXR) has recommenced an expanded phase two trenching program at the Big Red gold prospect in Queensland.
Before torrential rain hit, the company had only managed to complete 40 metres of the 60-metre trenching. Despite this, QXR was able to confirm that the initial phase two trench hosts similar lithology to the maiden trench program.
Prior to the program being paused, assay results included one metre at 11.25 grams per tonne (g/t) gold within 11 metres at 1.88 g/t and three metres at two g/t gold within eight metres at 1.27 g/t gold.
The recommencement will include eight of the 10 trenches across the Big Red and Red Dog anomalies.
“The expanded phase two program will give the company a clearer indication of the resource potential at the Big Red prospect, after the maiden program revealed the existence of extensive near-surface gold mineralisation across a large strike area,” Non-Executive Director Roger Jackson said.
“The program will also include one longer trench to the west of Red Dog to determine if there is any parallel mineralisation.”
Once the phase two program is completed, QRX plans to commence a reverse circulation drilling program on key targets, which is scheduled for the second half of 2022.
Additionally, the company has also bee undertaking extensive field work and sampling across its Pilbara leases in WA. QXR plans to update the market more on this soon.
On the market, QXR shares were up 4.35 per cent and trading at 2.4 cents at 1:33 pm AEST.