QX Resources

Nickel-Copper Intersected Near Surface in 8 Holes at Bayrock’s Vuostok Project Including 6.9m @ 1.2% Ni and 2.2% Cu

QX Resources Limited (ASX:QXR) is pleased to announce that Bayrock Resources Limited (Bayrock) has confirmed highly encouraging nickel-copper mineralisation, some in thick intercepts, in eight drill holes at the Storbodsund Prospect within Bayrock’s Vuostok Nickel-Copper Project in Northern Sweden. QXR has a significant (39%) holding in Bayrock Resources Limited.

  • Highly encouraging nickel-copper grades returned from near surface in eight diamond drill holes including 6.9m @ 1.2% Ni, 2.2% Cu from 5 metres downhole and in another drillhole 6.2m @ 1.2% Ni, from 11m downhole.
  • Ni-Cu sulphide mineralisation intercepted in drill holes at the Storbodsund Prospect, within Bayrock’s Vuostok Nickel-Copper Project in northern Sweden.
  • Results indicate near surface massive Ni-Cu sulphides between 0.3 and 6 meters thick, less than 18 metres from surface and beneath a thin cover of glacial sediments.
  • The Vuostok Nickel-Copper deposits are within 60 kilometers from Bayrock’s Lainejaur high-grade Nickel-Copper-Cobalt deposit, offering potential joint development opportunity as a “district play”.
  • QXR has a significant 39% investment in unlisted public Australian company Bayrock Resources Limited, which has a portfolio of highly prospective battery minerals assets in Sweden, primarily with Nickel, Copper and Cobalt.
Significant diamond drill assay results (Table 3) included:

VUO23011 : 6.2m @ 1.2% Ni, 2.2% Cu, 0.04% Co from 11m down hole.

VUO23013 : 6.9m @ 1.2% Ni, 0.3% Cu, 0.05% Co from 5.1m down hole.

including 0.4m @ 3.9% Ni, 0.3% Cu, 0.11% Co from 6.85m down hole.

VUO23004 : 0.7m @ 3.2% Ni, 1.0% Cu, 0.08% Co from 10.3m down hole.

VUO23005 : 0.9m @ 1.2% Ni, 0.1% Cu, 0.08% Co from 6m down hole.

QXR Managing Director Steve Promnitz commented: “Highly encouraging nickel-copper results in thick intercepts at both of Bayrock’s Lainejaur and Vuostok projects show a potential district scale operation in a mining friendly region of Sweden. Today’s results confirm excellent mineralisation in a new area of interest, expanding the project footprint. Bayrock is now planning the next exploration phase and also undertaking sampling across new areas of interest with a further update pending.”

Bayrock has received assay results from the 17 shallow diamond drill holes (508m) completed at the Storbodsund Prospect, of the Vuostok Nickel-Copper Project. Vuostok is one of Bayrock’s six 100% owned Ni-Cu projects located in northern Sweden (Figures 1, 2 and 3).

Massive sulphides (pyrrhotite, pentlandite and chalcopyrite) with high grades of nickel, copper and cobalt were intersected in four drill holes (VUO23004, VUO23005, VUO23011 and VUO23013) less than 18 metres from the surface and beneath thin sediment cover. Another four holes in the drill program also intersected significant shallow nickel and copper mineralisation including:

VUO23003 :7.8m @ 0.2% Ni and 0.1% Cu from 6.25m down hole,

VUO23007 :1.0m @ 0.2% Ni and 0.1% Cu from 12.6m down hole,

VUO23010 : 5.15m @ 0.3% Ni, 0.4% Cu and 0.02% Co from 4.4m down hole,

VUO23012 : 5.7m @ 0.2% Ni, 0.4% Cu and 0.02% Co from 6.3m down hole

Including 1.7m @ 0.6% Ni, 0.2% Cu and 0.02% Co from 6.3m down hole.

The mineralisation appears to be flat-lying and open to the northeast (Figure 2). High-grade nickel and copper sulphides were previously located 70 years ago in the flat-lying Storbodsund deposit of near-surface sulphides (within 20m of surface). Massive Ni-Cu sulphides (average grade of 2.3% Ni and 0.6% Cu (including up 3.7% Ni), between 0.3 and 7.7 meters thick, were intersected by drilling in the basal section of a gabbroic intrusive at the contact with underlying granite and are covered by a thin veneer of transported glacial sediments (see ASX announcement 11 July and 1 August 2023). Note that Storbodsund is one of four targets drilled by previous explorers at the Vuostok Project area (Figure 3).

Click here for the full ASX Release

This article includes content from QX Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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