New Novartis Fabhalta® data show clinically meaningful and statistically significant proteinuria reduction of 38.3% versus placebo for patients with IgA nephropathy

  • APPLAUSE-IgAN is first and only Phase III study to demonstrate significant proteinuria reduction by targeting the complement system in patients with IgAN 1

  • IgAN is a heterogeneous, progressive, rare kidney disease and is a major cause of chronic kidney disease worldwide 2 ; complement activation is a key driver of glomerular inflammation in IgAN 3,4

  • There is a need for effective, targeted therapies for IgAN 2,5 ; up to 30% of patients with persistent proteinuria (≥1 g/day) may progress to kidney failure within 10 years, requiring maintenance dialysis and/or kidney transplantation 6

  • Novartis continues to advance broad renal portfolio in late-stage development, exploring the potential to slow disease progression and extend dialysis-free life

Novartis today presented results from a pre-specified interim analysis of the Phase III APPLAUSE-IgAN study of Fabhalta ® (iptacopan), an investigational Factor B inhibitor of the alternative complement pathway, in patients with IgA nephropathy (IgAN) 1 . In the analysis, patients treated with Fabhalta achieved a 38.3% (p

Proteinuria reduction is an increasingly recognized surrogate marker correlating with progression to kidney failure and has been used as an endpoint in IgAN clinical trials to support accelerated approvals 7 . The study also showed that Fabhalta was well tolerated with a favorable safety profile consistent with previously reported data 1,8 . Results were presented today during a late-breaking clinical trials session at the World Congress of Nephrology (WCN) in Buenos Aires, Argentina 1 .

"In IgAN, part of the immune system called the alternative complement pathway can become overly activated in the kidneys, which causes an inflammatory response, leading to progressive kidney damage and gradual loss of kidney function. The loss of kidney function, together with potential side effects of IgAN treatments available until recently, significantly impact patients' lives," said Professor Dana Rizk , Investigator and APPLAUSE-IgAN Steering Committee Member and professor in the UAB Division of Nephrology. "Fabhalta is the first potential treatment for IgAN that specifically targets the alternative complement pathway."

This pre-specified interim analysis included 250 patients for the efficacy analysis and 443 for the safety analysis 1 . The APPLAUSE-IgAN study continues in a double-blind fashion, and therefore only limited interim analysis results can be presented 9,10 . Submission for possible accelerated approval to the FDA was accepted and has received priority review. The primary endpoint evaluating Fabhalta's ability to slow IgAN progression by measuring the annualized total estimated glomerular filtration rate (eGFR) slope over 24 months is expected at study completion in 2025 9,10 .

"IgAN progresses over many years, and patients' needs may evolve such that different therapies may be best used at different times," said David Soergel , M.D., Global Head, Cardiovascular, Renal and Metabolism Development Unit, Novartis. "Our renal pipeline includes medicines with a variety of mechanisms which may allow them to be targeted to patients based on their clinical characteristics."

Other data presented at WCN include IgAN and C3 glomerulopathy (C3G) real-world studies. Novartis will be presenting further data from the renal portfolio at future medical meetings.

About APPLAUSE-IgAN
APPLAUSE-IgAN (NCT04578834) is a Phase III multicenter, randomized, double-blind, placebo-controlled, parallel-group study to evaluate the efficacy and safety of twice-daily oral Fabhalta (200 mg) in 518 adult primary IgAN patients 9,10 .

The two primary endpoints of the study for the interim and final analysis, respectively, are proteinuria reduction at 9 months as measured by UPCR, and the annualized total eGFR slope over 24 months 9,10 . At the time of final analysis, the following secondary endpoints will also be assessed: proportion of participants reaching UPCR 1.73 m 2 or maintenance dialysis or receipt of kidney transplant or death from kidney failure), change from baseline to 9 months in the fatigue scale measured by the Functional Assessment Of Chronic Illness Therapy-Fatigue questionnaire 9,10 .

The main study population enrolled patients with an eGFR ≥30 mL/min/ 1.73 m 2 and UPCR ≥1 g/g at baseline 9,10 . In addition, a smaller cohort of patients with severe renal impairment (eGFR 20–30 mL/min/ 1.73 m 2 at baseline) was also enrolled to provide additional information but will not contribute to the main efficacy analyses 9,10 .

About Fabhalta ® ( iptacopan )
Fabhalta (iptacopan) is an oral, Factor B inhibitor of the alternative complement pathway 1 .

Discovered at Novartis, Fabhalta is currently in development for a range of rare diseases including IgAN, C3G, atypical hemolytic uremic syndrome ( aHUS), immune complex membranoproliferative glomerulonephritis (IC-MPGN) and lupus nephritis (LN).

Fabhalta was approved by the FDA in December 2023 for the treatment of adults with the rare blood disorder paroxysmal nocturnal hemoglobinuria (PNH) and received a positive opinion from the CHMP of the EMA in March 2024 11,12 .

About IgA nephropathy (IgAN)
IgAN is a heterogeneous, progressive, rare kidney disease 2 . Each year, approximately 25 people per million worldwide are newly diagnosed with IgAN 13 .

Up to 30% of people who have IgAN with persistent higher levels of proteinuria (≥1 g/day) may progress to kidney failure within 10 years 6 . There is a need for effective, targeted therapies for IgAN that can help slow or prevent progression to kidney failure 2,5,14 .

Novartis commitment in renal
At Novartis, our journey in nephrology began more than 40 years ago when the development and introduction of cyclosporine helped reimagine the field of transplantation and immunosuppression. We continue today with the same bold ambition to transform the lives of people living with kidney diseases.

Through our renal portfolio, we are exploring potential therapeutic options to address the current unmet needs of people living with rare kidney diseases, including IgAN, C3G, aHUS, IC-MPGN and LN. New and innovative treatment options that target the underlying causes of rare kidney diseases may slow disease progression and help people live longer without the need for infusions, dialysis or transplantation.

IgAN is a heterogeneous disease presenting with a variety of clinical manifestations, phenotypes, and variable speeds of progression 2 . In addition to Fabhalta, Novartis is advancing the development of two other therapies in IgAN with highly differentiated mechanisms of action: atrasentan, an investigational oral endothelin A (ETA) receptor antagonist, and zigakibart, an investigational subcutaneously administered anti-APRIL monoclonal antibody, which are both in Phase III development 15,16 . Through our IgAN pipeline, we are committed to creating a portfolio of innovative medicines that improve and extend the lives of people living with kidney disease.

Disclaimer
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as "potential," "can," "will," "plan," "may," "could," "would," "expect," "anticipate," "look forward," "believe," "committed," "investigational," "pipeline," "launch," or similar terms, or by express or implied discussions regarding potential marketing approvals, new indications or labeling for the investigational or approved products described in this press release, or regarding potential future revenues from such products. You should not place undue reliance on these statements. Such forward-looking statements are based on our current beliefs and expectations regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that the investigational or approved products described in this press release will be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time. Nor can there be any guarantee that such products will be commercially successful in the future. In particular, our expectations regarding such products could be affected by, among other things, the uncertainties inherent in research and development, including clinical trial results and additional analysis of existing clinical data; regulatory actions or delays or government regulation generally; global trends toward health care cost containment, including government, payor and general public pricing and reimbursement pressures and requirements for increased pricing transparency; our ability to obtain or maintain proprietary intellectual property protection; the particular prescribing preferences of physicians and patients; general political, economic and business conditions, including the effects of and efforts to mitigate pandemic diseases; safety, quality, data integrity or manufacturing issues; potential or actual data security and data privacy breaches, or disruptions of our information technology systems, and other risks and factors referred to in Novartis AG's current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.

About Novartis
Novartis is an innovative medicines company. Every day, we work to reimagine medicine to improve and extend people's lives so that patients, healthcare professionals and societies are empowered in the face of serious disease. Our medicines reach more than 250 million people worldwide.

Reimagine medicine with us: Visit us at https://www.novartis.com and https://www.novartis.us and connect with us on LinkedIn , LinkedIn US , Facebook , X/Twitter , X/Twitter US , and Instagram .

References

  1. Perkovic V, Kollins D, Renfurm R, et al. Efficacy and Safety of Iptacopan in Patients with IgA Nephropathy: Interim Results from the Phase 3 APPLAUSE-IgAN Study. Presented at the World Congress of Nephrology (WCN); April 15, 2024 ; Buenos Aires, Argentina .
  2. Kidney Disease: Improving Global Outcomes (KDIGO) 2021 Clinical Practice Guideline for the Management of Glomerular Diseases. Kidney Int . 2021;100(4):S1-S276. doi:10.1016/j.kint.2021.05.021
  3. Rizk DV, Maillard N, Julian BA, et al. The Emerging Role of Complement Proteins as a Target for Therapy of IgA Nephropathy. Front Immunol . 2019;10:504. doi:10.3389/fimmu.2019.00504
  4. Medjeral-Thomas NR, O'Shaughnessy MM. Complement in IgA Nephropathy: The Role of Complement in the Pathogenesis, Diagnosis, and Future Management of IgA Nephropathy. Adv Chronic Kidney Dis . 2020;27(2):111-119. doi:10.1053/j.ackd.2019.12.004
  5. Boyd JK, Cheung CK, Molyneux K, Feehally J, Barratt J. An Update on the Pathogenesis and Treatment of IgA Nephropathy. Kidney Int . 2012;81(9):833-843. doi:10.1038/ki.2011.501
  6. Reich HN, Troyanov SAA, Scholey JW, Cattran DC. Remission of Proteinuria Improves Prognosis in IgA Nephropathy. J Am Soc Nephrol . 2007;18(12):3177-3183. doi:10.1681/ASN.2007050526
  7. Thompson A, Carroll K, Inker LA, et al. Proteinuria Reduction as a Surrogate End Point in Trials of IgA Nephropathy. Clin J Am Soc Nephrol . 2019;14(3):469-481. doi:10.2215/CJN.08600718
  8. Zhang H, Rizk DV, Perkovic V, et al. Results of a Randomized Double-Blind Placebo-Controlled Phase 2 Study Propose Iptacopan as an Alternative Complement Pathway Inhibitor for IgA Nephropathy. Kidney Int . 2024;105(1):189-199. doi:10.1016/j.kint.2023.09.027
  9. Rizk DV, Rovin BH, Zhang H, et al. Targeting the Alternative Complement Pathway with Iptacopan to Treat IgA Nephropathy: Design and Rationale of the APPLAUSE-IgAN Study. Kidney Int Rep . 2023;8(5):968-979. doi:10.1016/j.ekir.2023.01.041
  10. ClinicalTrials.gov. NCT04578834. A Multi-Center, Randomized, Double-Blind, Placebo-Controlled, Parallel Group, Phase III Study to Evaluate the Efficacy and Safety of LNP023 in Primary IgA Nephropathy Patients. Available from: https://clinicaltrials.gov/ct2/show/NCT04578834 . Accessed April 2024 .
  11. Novartis. Novartis receives FDA approval for Fabhalta® (iptacopan), offering superior hemoglobin improvement in the absence of transfusions as the first oral monotherapy for adults with PNH. Available from: https://www.novartis.com/news/media-releases/novartis-receives-fda-approval-fabhalta-iptacopan-offering-superior-hemoglobin-improvement-absence-transfusions-first-oral-monotherapy-adults-pnh . Accessed April 2024 .
  12. Novartis. Novartis Fabhalta® (iptacopan) receives positive CHMP opinion as first oral monotherapy for adult patients with paroxysmal nocturnal hemoglobinuria (PNH). Available from: https://www.novartis.com/news/media-releases/novartis-fabhalta-iptacopan-receives-positive-chmp-opinion-first-oral-monotherapy-adult-patients-paroxysmal-nocturnal-hemoglobinuria-pnh . Accessed April 2024 .
  13. McGrogan A, Franssen CF, de Vries CS. The Incidence of Primary Glomerulonephritis Worldwide: A Systematic Review of the Literature. Nephrol Dial Transplant . 2011;26(2):414-430. doi:10.1093/ndt/gfq665
  14. Xie J, Kiryluk K, Wang W, et al. Predicting Progression of IgA Nephropathy: New Clinical Progression Risk Score. PLoS ONE. 2012;7(6):e38904. doi:10.1371/journal.pone.0038904
  15. Novartis. Novartis completes acquisition of Chinook Therapeutics. Available from: https://www.novartis.com/news/media-releases/novartis-completes-acquisition-chinook-therapeutics . Accessed April 2024 .
  16. Novartis. Novartis investigational atrasentan Phase III study demonstrates clinically meaningful and highly statistically significant proteinuria reduction in patients with IgA nephropathy (IgAN). Available from: https://www.novartis.com/news/media-releases/novartis-investigational-atrasentan-phase-iii-study-demonstrates-clinically-meaningful-and-highly-statistically-significant-proteinuria-reduction-patients-iga-nephropathy-igan . Accessed April 2024 .

Novartis Media Relations

E-mail: media.relations@novartis.com

North America


Michael Meo

+1 862 274 5414

Marlena Abdinoor

+1 617 335 9525


Novartis Investor Relations

E-mail: investor.relations@novartis.com

North America



Sloan Simpson

+1 862 345 4440


Jonathan Graham

+1 201 602 9921


Parag Mahanti

+1 973 876 4912






Cision View original content: https://www.prnewswire.com/news-releases/new-novartis-fabhalta-iptacopan-data-show-clinically-meaningful-and-statistically-significant-proteinuria-reduction-of-38-3-versus-placebo-for-patients-with-iga-nephropathy-igan-302116917.html

SOURCE Novartis Pharmaceuticals Corporation

News Provided by PR Newswire via QuoteMedia

NVS
The Conversation (0)
Nevada Sunrise Initiates Data Review to Develop New Drill Targets at the Coronado Copper Project, Nevada

Nevada Sunrise Initiates Data Review to Develop New Drill Targets at the Coronado Copper Project, Nevada

Nevada Sunrise Metals Corporation (TSXV: NEV) (OTCBB: NVSGF) ("Nevada Sunrise" or the "Company") is pleased to announce that the Company has initiated a geological and geophysical data review on its Coronado Copper Project (" Coronado ", or the " Project ") located in Pershing County, Nevada approximately 48 kilometers (30 miles) southeast of Winnemucca . The purpose of the Coronado data review is to identify new, shallow drill targets in an area of the Project where historical drilling in 1976 identified high-grade copper mineralization.

Highlights of the Coronado Copper Project

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Nevada Sunrise Signs Indicative Term Sheet to Sell Remaining Interest in the Kinsley Mountain Gold Project, Nevada

Nevada Sunrise Signs Indicative Term Sheet to Sell Remaining Interest in the Kinsley Mountain Gold Project, Nevada

Nevada Sunrise Metals Corp. (TSXV: NEV) (OTCBB: NVSGF) ("Nevada Sunrise" or the "Company") announced today that it has signed a non-binding, indicative term sheet with CopAur Minerals Inc. (" CopAur ") for CopAur to acquire Nevada Sunrise's remaining ownership interest in the Kinsley Mountain Gold Project in Nevada (" Kinsley Mountain "). If the transaction is completed, CopAur will own 100% of Kinsley Mountain .

Nevada Sunrise Metals Corporation Logo (CNW Group/Nevada Sunrise Metals Corporation)

The indicative term sheet outlines a potential transaction whereby CopAur would acquire Nevada Sunrises' 18.74% ownership interest in Kinsley Mountain in consideration of the payment of CDN$475,000 and the issuance of 1,000,000 common shares of CopAur (the "Shares"). The Shares would be deposited in escrow and released in successive releases of 250,000 Shares once every calendar quarter commencing after expiry of the four-month statutory hold period following the closing date. The terms of the transaction are indicative and the final terms are subject to the negotiation and completion of a definitive agreement on terms acceptable to Nevada Sunrise and CopAur. The transaction is subject to a number of conditions including CopAur arranging a financing in the amount of a minimum of CDN$475,000 , completion of satisfactory due diligence, and the fulfilment of various closing conditions, including acceptance by the TSX Venture Exchange.

About Kinsley Mountain

Kinsley Mountain was a historical past producer that yielded 138,000 ounces of near-surface, open-pit oxide gold between 1995 and 1999, and currently hosts a compliant National Instrument 43-101 mineral resource. A technical report on Kinsley Mountain entitled "Technical Report of the Kinsley Project, Elko and White Pine Counties, Nevada, U.S.A. ", dated June 21, 2021 , with an effective date of May 5, 2021 , prepared by Michael M. Gustin and Gary L. Simmons , is available for review under New Placer Dome Gold Corp.'s issuer profile on sedarplus.ca

About Nevada Sunrise

Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC , Canada , that holds interests in lithium, gold and copper exploration projects located in the State of Nevada, USA .

Nevada Sunrise owns 100% interests in the Gemini, Jackson Wash and Badlands lithium projects, all of which are located in the Lida Valley in Esmeralda County, NV , and in the Pelican lithium project in Saskatchewan, Canada . The Company owns Nevada Water Right Permit 86863, also located in the Lida Valley basin, near Gold Point, NV.

Nevada Sunrise has the right to earn a 100% interest in the Coronado Copper Project , located approximately 48 kilometers (30 miles) southeast of Winnemucca, NV.

The Company owns an 18.74% interest in the Kinsley Mountain Gold Project near Wendover, NV , in a joint venture with CopAur, which is now the subject of a potential transaction between Nevada Sunrise and CopAur.

FORWARD LOOKING STATEMENTS

This release may contain forward–looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and include disclosure of anticipated exploration activities. Although the Company believes the expectations expressed in such forward–looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward–looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward–looking statements whether as a result of new information, future events or otherwise.

Such factors include, among others, risks related to: the completion of the potential transaction with CopAur Minerals Inc. for the purchase of the Company's remaining participating interest in the Kinsley Mountain Gold Project joint venture; reliance on technical information provided by third parties on any of our exploration properties; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and other risks of the mining industry; delays due to pandemic; delays in obtaining governmental approvals, financing or in the completion of exploration, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Six Months Ending March 31 , 2024,  which is available under Company's SEDAR profile at www.sedar.com .

Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Nevada Sunrise Metals Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2024/08/c5338.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
QX Resources

Large Basin Confirmed in Drillholes with Multiple Brine Horizon Targets - Liberty Lithium Brine Project USA

QX Resources Limited (ASX: QXR, ‘QXR’) can confirm that the Liberty Lithium brine project in California, USA, is a large brine basin with numerous brine aquifers, shown in downhole sampling and geophysics in the second hole of the Company’s two-hole diamond drill program (Table 1).

Keep reading...Show less
QX Resources Ltd  Large Basin Confirmed in Drillholes at Liberty Lithium Brine

QX Resources Ltd Large Basin Confirmed in Drillholes at Liberty Lithium Brine

Perth, Australia (ABN Newswire) - QX Resources Limited (ASX:QXR) can confirm that the Liberty Lithium brine project in California, USA, is a large brine basin with numerous brine aquifers, shown in downhole sampling and geophysics in the second hole of the Company's two-hole diamond drill program (Table 1*).

- Drilling and geophysics indicate the existence of a large brine basin at Liberty Lithium Brine Project USA, with brine intersected over 400 m vertically.

o Geological similarities confirmed with the nearby Silver Peak lithium brine producer Albemarle, in Clayton Valley Nevada, with encouraging initial lithium assay results, aquifers and salinity.

- Lithium brine specialists have proposed additional drilling to intersect deep lithium brines in the centre of the basin, in a more favourable setting, further west of recent drilling.

- Discussions continue with various USA based battery supply participants who are keen to work with potential new lithium developers within the USA, including with Stardust who aim to IPO in June.

- QXR and IG Lithium Option Agreements are being amended to facilitate undertaking further drilling.

- QXR aims to provide an update soon on progress with gold exploration in Queensland.

Porous conglomerates saturated with brines were intersected beneath fine grained lake sediments with sandy layers. The geology intersected is very encouraging as it is similar to the producing sequences of Clayton Valley Nevada, where Albemarle's producing lithium brine deposit is located. Detailed downhole geophysics together with initial downhole brine sampling (packer sampling) shows increasing salinity with depth, together with large brine volumes, both encouraging for discovering a potentially economic lithium brine deposit in the properties.

Although the maximum lithium assay values were 50mg/l Li over 15 metres near the base of hole #2 (Table 2*), the salinity and conductivity increased with depth, at levels similar to known producers. Ingress of fresh water into the aquifers may explain the lower lithium values in drill holes #1 and #2 being located close to a range front fault on the edge of the basin. These initial holes were located near the edge of the basin in part for logistics and access reasons as well as the surface lithium anomaly.

Hole #2 also intersected thick porous brine horizons - critical for future success- which is considered encouraging, together with the geological similarity to Clayton Valley NV (Albemarle's Silver Peak mine). These similarities include basal porous conglomerate units containing brine beneath finer grained lake sediments.

However, the best producing horizons at Clayton Valley are tuff units within the sediment package which have not been intersected in drillholes to date, but which outcrop 4km to the southwest of hole #2 (Figure 4*).

Results were analysed by external lithium brine specialists to produce interpretations, including the globally recognised Hydrominex Geoscience Consulting. Lithium brine specialists have advised additional drilling is required to potentially intersect deep lithium brines in the centre of the basin, further west of drilling undertaken by QXR, based on lab results to date.

QXR Managing Director, Stephen Promnitz, said: "QXR has defined a new large scale brine basin, saturated with brines, at the Liberty Lithium Brine Project. A large near-surface brine field with lithium potential is rare to date in the USA. The geological setting, with conglomerates loaded with brines, is similar to Albemarle's producing deposit. We are yet to find tuff horizons similar to Clayton Valley, which are the best brine aquifers - although they do outcrop nearby, suggesting they may exist within the basin. Surface and downhole geophysics make it compelling for further drilling to the west, in the centre of the basin under deeper sediments, which may intersect higher grade lithium brine, compared to the drilling to date."

Next Steps

Applications for further drillholes were submitted some time ago. To provide operational flexibility, an amended drill program has been submitted to regulators for approval. Bulk volumes of brine will be submitted for testwork with selected direct lithium extraction (DLE) providers, as well as with lithium refiner Stardust Power Inc, with whom QXR holds at Letter of Intent (ASX announcement 29 Feb 2024). Stardust expects to list on NASDAQ in June via a c.US$490m deal and then plans to build a lithium refinery in Oklahoma.

Discussions continue with various USA based battery supply participants who are keen to work with potential new lithium developers within the USA.

QXR and IG Lithium are currently discussing amendments to the Option Agreements to facilitate the undertaking of further drilling.

Background

The Liberty Lithium Brine Project, located in SaltFire Flat, California, covers contiguous claims over 102km2 (25,300 acres), being one of the largest single lithium brine projects in the USA (Figure 1*). The Company entered an Option to Purchase Agreement and an Operating Agreement (Option Agreements) to earn a 75% interest in the large scale Liberty Lithium brine project in California, USA, from vendor IG Lithium LLC (ASX announcement 5 October 2023). Based on results received to date, the Company is currently in discussion with IG Lithium regarding potential renegotiation of the Option Agreements to allow a longer period of time to conduct additional drilling prior to any future commitments.

Two vertical diamond drill holes were completed (369m & 443 metres depth), spaced 4km apart (Figure 2, 3*).

Holes were centred over an extensive lithium brine surface anomaly and significant MT geophysical target, interpreted as a series of conductive brine bearing aquifers at depth. Brine horizons were intersected in both holes with numerous brine aquifers intersected in drillhole #2 (ASX announcement 8 Feb 2024).

QXR entered into a Letter of Intent with Stardust Power Inc., a development stage American manufacturer of battery-grade lithium products, to assess the lithium brines from the Liberty Lithium Brine Project. The parties intend to evaluate options to potentially supply Stardust Power with lithium brine products, dependent on results, on a non-exclusive basis for processing into battery-grade lithium materials for electric vehicles (ASX announcement 29 Feb 2024). The Company plans to share the results of the two hole drill program with Stardust as part of ongoing discussions.

Drillholes

Drillhole #1 (LLD23001) was completed at 369 metres depth. Target horizons were intersected at 49m depth and 329m depth. Fine grained sediments, gravels and coarse alluvial fan material were intersected down the length of the hole. An interpretation is that the drillhole went through the range front fault at 249m depth.

Drillhole #2 (LLD24002) was completed at 433 metres depth, located 4km to the south of drillhole #1. Both drillholes were centred over significant MT geophysical targets interpreted as a series of conductive brine bearing aquifers at depth. Both holes were positioned within an extensive lithium brine surface anomaly of over 10km defined in auger samples. An interpretation is that the drillhole went through the range front fault at 370m depth.

Figures 5 shows the increase in lithium and chloride concentration in brine with increasing depth. Figures 6-8* show interpretations of the possible geology on MT geophysical lines and the location of proposed drill holes.

The location of the proposed drill holes is also shown in Figure 9*.

Recommendations

Results were analysed by external lithium brine specialists to produce interpretations, including the globally recognised Hydrominex Geoscience Consulting, and others who have closely reviewed the geological setting of Albemarle's Silver Peak lithium brine producer in Clayton Valley, Nevada. Their recommendations included additional drilling further west of drilling undertaken by QXR, to potentially intersect deep lithium brines in the centre of the basin, based on lab results to date. Surface and downhole geophysics suggests that the basin is angled to the west with deeper sediments and brines to the west of recent drilling. Further, the geochemistry of the brine samples may suggest an ingress of fresh water into the aquifers, resulting in lower lithium grade in the two holes drilled to date, as the holes were drilled adjacent to a range front fault with significant fresh water inflows into the basin, along the basin edge.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/C58T0H5U



About QX Resources Ltd:

QX Resources Limited (ASX:QXR) is focused on exploration and development of battery minerals, with hard rock lithium assets in a prime location of Western Australia (WA), and gold assets in Queensland. The aim is to connect end users (battery, cathode and car makers) with QXR, an experienced explorer/developer of battery minerals, with an expanding mineral exploration project portfolio and solid financial support.

Lithium portfolio: QXR's lithium strategy is centred around WA's prolific Pilbara province, where it has acquired a controlling interest in four projects through targeted M&A - all of which sit in strategic proximity to some of Australia's largest lithium deposits and mines. Across the Pilbara, QXR's regional lithium tenement package (both granted or under application) now spans more than 350 km2.

Gold portfolio: QXR is also developing two Central Queensland gold projects - Lucky Break and Belyando - through an earn-in agreement with Zamia Resources Pty Ltd. Both gold projects are strategically located within the Drummond Basin, a region that has a >6.5moz gold endowment.

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Element 25 Limited

Element 25 Extends Share Purchase Plan

Element 25 Limited (E25 or Company) (ASX: E25; OTCQX: ELMTF) advises that the closing date for the current Share Purchase Plan (SPP)1 will be extended until 5:00pm, Wednesday, 26 June 2024 Australian Western Standard Time (AWST).

Keep reading...Show less
Large pharmaceutical pill with gold dollar sign in the middle. Stock tickers and charts are in the background.

Top 5 NASDAQ Pharma Stocks of 2024

Today's pharmaceutical market is facing the challenges of inflation, government-imposed drug price caps and waning demand for COVID-19 vaccines. However, the industry's major underlying drivers — higher rates of cancer and chronic diseases — are still at play.

The US reigns supreme in the pharma market, both in terms of drug demand and development. Last year, 55 novel medicines were approved by the US Food and Drug Administration (FDA), compared to 37 such approvals for all of 2022. As of mid-July, 22 novel medicines have received FDA approval in 2024, including Eli Lilly's (NYSE:LLY) Alzheimer's disease treatment Kisunla (donanemab-azbt). Big Pharma has largely stole the show throughout the course of this year, but a number of small- and mid-cap NASDAQ pharma stocks also made gains in 2024.

Below the Investing News Network profiles the five top NASDAQ pharma stocks by share price performance so far this year. Data was compiled on July 12, 2024, using TradingView’s stock screener, and all companies listed had market caps between US$50 million and US$500 million at that time. Read on to learn more about their activities this past year.

Keep reading...Show less
Principal Technologies (TSXV:PTEC)

Principal Technologies Announces Extension of Private Placement Closing Date

Principal Technologies Inc. (the "Company") (TSXV: PTEC; FSE: J07), announces that it has received an extension from the TSX Venture Exchange with respect to the duration of its previously announced private placement (the "Private Placement") (see the Company's press releases dated April 3, 2024; June 7, 2024; June 20, 2024; and June 24, 2024), and intends to close a second and final tranche of the Private Placement on or before August 16, 2024.

All securities issued to the Offering will be subject to a statutory four-month hold period. The closing of the second tranche of the Offering will be subject to a number of conditions, including without limitation, approval of the TSXV.

Keep reading...Show less
Cardiol Therapeutics Reports Results of 2024 Annual General and Special Meeting of Shareholders

Cardiol Therapeutics Reports Results of 2024 Annual General and Special Meeting of Shareholders

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) ("Cardiol" or the "Company"), a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, announces the results from its annual general and special meeting of shareholders (the "Meeting") held virtually via live audio webcast, on June 26, 2024. Shareholders voted in favour of all management resolutions proposed in the Company's management information circular dated May 13, 2024.

Resolutions proposed and approved at the Meeting were:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Cardiol Therapeutics to Webcast Virtual Annual General and Special Meeting of Shareholders on June 26th at 4:30 p.m. EDT

Cardiol Therapeutics to Webcast Virtual Annual General and Special Meeting of Shareholders on June 26th at 4:30 p.m. EDT

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) ("Cardiol" or the "Company"), a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, announces that the Company's virtual Annual General and Special Meeting of Shareholders (the "AGM") will be webcast on June 26, 2024, at 4:30 p.m. EDT.

Cardiol Therapeutics 2024 AGM

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Principal Technologies (TSXV:PTEC)

Principal Technologies Announces Extension of Private Placement Closing Date

Principal Technologies Inc. (the "Company") (TSXV: PTEC; FSE: J07), announces that it has received an extension from the TSX Venture Exchange with respect to the duration of its previously announced private placement (the "Private Placement") (see the Company's press releases dated April 3, 2024; June 7, 2024; and June 20, 2024), and intends to close a second and final tranche of the Private Placement on or before July 15, 2024.

ON BEHALF OF THE BOARD

Keep reading...Show less
Cardiol Therapeutics Announces Positive Topline Data from its Phase II MAvERIC-Pilot Study Investigating CardiolRx for Recurrent Pericarditis

Cardiol Therapeutics Announces Positive Topline Data from its Phase II MAvERIC-Pilot Study Investigating CardiolRx for Recurrent Pericarditis

Administration of CardiolRx™ led to a marked reduction in the primary efficacy endpoint of pericarditis pain

CardiolRx™ also shown to reduce inflammation in patients with elevated CRP

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×