Brines intersected in first hole at
- 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
QXR Managing Director,
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
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
Gold portfolio: QXR is also developing two
Contact:
Managing Director
T: +61-423-333-296
E: steve@qxresources.com.au
Executive Chairman
T: +61-411-545-262
Six Degrees Investor Relations
T: +61-423-755-909
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