QX Resources Ltd  Brines intersected in first hole at Liberty Lithium Project

QX Resources Ltd Brines intersected in first hole at Liberty Lithium Project

Perth, Australia (ABN Newswire) - QX Resources Limited (ASX:QXR) is pleased to confirm that brines* were successfully intersected in the first hole of a two-hole diamond drill (DD) program over the large scale Liberty Lithium brine project in California, USA.

Brines intersected in first hole at Liberty Lithium Brine Project USA

- Drillhole 1 has been completed and brine sampling is underway; results anticipated in 6 weeks.

- Brines were intersected at shallower levels than expected at 49 metres and 329 metres.

- Second diamond drillhole, located 4km south of the first hole, is centred over a significant geophysical target in magnetotellurics (MT) that infer a series of conductive brine bearing aquifers at depth.

- Second drill hole to commence within a few days' time.

Brine sampling* of the first drill hole is underway with lithium assay results anticipated within six weeks.

*Cautionary Statement: The intersection of brines does not imply that the brines are lithium bearing. Chemical analysis from an independent laboratory will determine lithium concentrations in a brine.

The first vertical diamond drill hole has been completed at 369 metres depth. The target horizons were intersected at 49m depth and 329m depth. Large brine volumes (>20,000 litres) are being pumped currently.

Fine grained sediments, gravels and coarse alluvial fan material were intersected down the length of the hole.

The second DD hole is located 4km to the south and is centred over a significant MT geophysical target that has been interpreted as suggesting a series of conductive brine bearing aquifers at depth. Drilling of the second drill hole will commence in the coming days. Both holes are positioned within an extensive lithium brine surface anomaly of over 10km defined in auger samples (see image 2* below).

QXR has the ability to earn a 75% interest of the 102km2 Liberty Lithium Brine Project, located in SaltFire Flat, in California, USA (refer ASX announcement dated 5 October 2023). The Project is one of the largest single lithium brine projects in the USA (for scale, equivalent to 2x area of Sydney Harbour). The Project's geological setting mirrors Albemarle's nearby Silver Peak lithium brine producer in Clayton Valley USA and major Argentina brine projects.

QXR Managing Director, Stephen Promnitz, said: "We are encouraged with the progress to date. Brines have been intersected at multiple depths in favourable geology with the hole producing brines at a good rate. This is a great start and we look forward to updating the market with assays in six weeks.

The second hole may well deliver even better results due to its favourable position to encounter more downhole intercepts of brines. The Liberty Lithium project is a large lithium brine target and has the hallmarks of a successful brine project. I'm looking forward to keeping investors updated with results and further drilling."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/43J6508F



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.



Source:
QX Resources Ltd



Contact:
Steve Promnitz
Managing Director
T: +61-423-333-296
E: steve@qxresources.com.au

Maurice Feilich
Executive Chairman
T: +61-411-545-262

Sam Jacobs
Six Degrees Investor Relations
T: +61-423-755-909

News Provided by ABN Newswire via QuoteMedia

QXR:AU
The Conversation (0)
QX Resources

QX Resources

Copper/Moly/Gold assets in Queensland

Quarterly Activities/Appendix 5B Cash Flow Report

Quarterly Activities/Appendix 5B Cash Flow Report

QX Resources (QXR:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
QX Resources Ltd  Board and Management Changes

QX Resources Ltd Board and Management Changes

Perth, Australia (ABN Newswire) - QX Resources Limited (ASX:QXR) announces changes to its Board and Management, reflecting current market conditions for junior exploration companies. Effective today, Steve Promnitz has transitioned from Managing Director to strategic advisor and consultant . In... Keep Reading...
QX Resources Ltd  Secures Option to Additional US Lithium Brine Projects

QX Resources Ltd Secures Option to Additional US Lithium Brine Projects

Perth, Australia (ABN Newswire) - QX Resources Limited (ASX:QXR) is pleased to announce that QXR has renegotiated the option agreement over the Liberty Lithium Brine Project in California, USA, to reduce option payments and also to include an option to acquire an interest in two additional... Keep Reading...
QX Resources Ltd  Quarterly Activities Report

QX Resources Ltd Quarterly Activities Report

Perth, Australia (ABN Newswire) - QX Resources Ltd (ASX:QXR) provide the Quarterly Activities Report for Period Ended 30 June 2024 with the following highlights in operations. Liberty Lithium Brine Project, USA Drilling and geophysics confirmed a large brine basin with multiple brine horizon... Keep Reading...
QX Resources Ltd  High Grade Gold Trenching Program and Reassessment in QLD

QX Resources Ltd High Grade Gold Trenching Program and Reassessment in QLD

Perth, Australia (ABN Newswire) - QX Resources Ltd (ASX:QXR) announces a new program of trenching to extend known high grade gold mineralisation at Big Red Project, where prior trenching including mineralised widths of 9m @ 5.9g/t Au. - A follow-up trenching program has been planned at the Big... Keep Reading...
SAGA Metals Featured in 'The Northern Miner' as Drilling Preparations Continue at Radar Project in Labrador

SAGA Metals Featured in 'The Northern Miner' as Drilling Preparations Continue at Radar Project in Labrador

Saga Metals Corp. ("SAGA" or the "Company") (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company advancing critical mineral discoveries, is pleased to announce that preparations are underway for Phase 1 of the 2025–2026 drill program at the Trapper Zone on its... Keep Reading...
Surface Metals Inc. Announces Private Placement Financing

Surface Metals Inc. Announces Private Placement Financing

Surface Metals Inc. (CSE: SUR,OTC:SURMF) (OTCQB: SURMF) (the "Company", or "Surface Metals") announced today a non-brokered private placement financing of up to 4,000,000 units (the "Units") at $0.20 CAD per Unit for aggregate gross proceeds of up to $800,000 CAD (the "Offering"). Each Unit will... Keep Reading...
Pronounced Lithium-in-soil Anomalies

Pronounced Lithium-in-soil Anomalies

Atlantic Lithium (A11:AU) has announced Pronounced Lithium-in-soil AnomaliesDownload the PDF here. Keep Reading...
Successful $8M Placement & SPP to Advance McDermitt & SPAC

Successful $8M Placement & SPP to Advance McDermitt & SPAC

Jindalee Lithium (JLL:AU) has announced Successful $8M Placement & SPP to Advance McDermitt & SPACDownload the PDF here. Keep Reading...
Options Prospectus

Options Prospectus

Jindalee Lithium (JLL:AU) has announced Options ProspectusDownload the PDF here. Keep Reading...
Trading Halt

Trading Halt

Jindalee Lithium (JLL:AU) has announced Trading HaltDownload the PDF here. Keep Reading...

Latest Press Releases

Related News