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- QX Resources (QXR) encounters further high-grade gold mineralisation at the Big Red and Red Dog prospects in Central Queensland
- The company is currently undertaking its phase two trenching program after the initial program encountered high-grade gold with up to 23g/t intersected
- Unfortunately, due to the unseasonable weather conditions, the phase two program has been suspended until the end of the wet season
- Despite this, work completed so far has confirmed that the trench hosts similar lithology to the maiden program with up to 11.25g/t gold intersected to far
- QXR is up 16.7 per cent on the market with shares trading at 4.2 cents
QX Resources (QXR) has encountered further high-grade gold mineralisation at the Big Red and Red Dog prospects in Central Queensland.
The company is currently undertaking its phase two trenching program after the initial program encountered high-grade gold intercepts.
A peak result of two metres at 23 grams of gold per tonne (g/t) was returned with the mineralisation remaining open along strike to the southwest and southwest as well as at depth.
Unfortunately, due to the unseasonable weather conditions, the phase two program has been suspended until the end of the wet season.
Despite this, work completed so far has confirmed that the trench hosts similar lithology to the maiden program including quartz veining.
Results received so far include one metre at 11.25g/t gold within 11 metres at 1.88g/t gold, and three metres at 2g/t gold within eight metres at 1.27g/t gold.
Once work resumes, a further 10 trenches will be excavated to further establish and explore mineralisation across the project.
Based on the results, the program could be expanded again prior to the commencement of an extensive reverse circulation drilling program.
“The results received from the second trenching program at Red Dog are very encouraging. Hampered by an out of season downpour we didn’t expect to receive much from this short trench, so these results are very interesting and exciting,” Non-Executive Director Roger Jackson commented.
“We predict that the mineralisation encountered may be a new reef running parallel to the system found during the initial trenching program in September 2021.”
“Additional exploration work will need to be undertaken to fully understand the western system and if this system extends to the north up to Red Dog.”
QXR was up 16.7 per cent on the market with shares trading at 4.2 cents at 1:52 pm AEDT.
