QX Resources (ASX: QXR) has reported further ‘high-grade’ gold mineralisation from Phase 2 trenching at the Red Dog prospect within its Disney tenement in Central Queensland.
Standout results include 1m @ 11.25g/t Au within 11m @1.88g/t (from 22m to 31m along trench), and 3m @ 2.0g/t Au within 8m @1.27g/t (from 3m to 11m) including 3m @ 2.02g/t and 1m @2.9 g/t.
The company said that the mineralisation points to potential for a new reef running parallel to the system found during the initial trenching program.
Speaking on the results, QX Resources Non-Executive Director Roger Jackson said: “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.
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.
“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″
The program at Big Red is running concurrently with our exploration work in both Queensland and Western Australia. We look forward to providing updates on further exploration initiatives as they materialise across the project suite.”
The Phase 2 trenching program was launched following the discovery of ‘high-grade’ gold mineralisation from the company’s 370m Phase 1 program at the Big Red and Red Dog prospects.
The program included a planned eight to nine trenches covering over 400m of potential additional strike, with the new trenches stepping out approximately 60m south and north of Big Red’s known mineralisation. This would be accompanied by an additional trench to the west of Red Dog to identify any parallel mineralisation.
Location of the the Phase 2 trenching program including the first 40m trench completed in redDue to unseasonable adverse weather conditions, the program was suspended after completing an initial 40m. On a positive note, the first trench was confirmed to host similar lithology to the maiden trench program, including quartz veining. Assay results have since verified that grades show that the Red Dog prospect hosts gold mineralisation to the west of the main structure.
Once the program recommences, QX Resources has stated that it plans to excavate an additional ten trenches to further establish and explore mineralisation across the project, with an expanded program possible pending positive results.
Images: QX Resources Limited
