QX Resources (ASX:QXR) has struck multiple new pegmatites through lithium hard rock exploration across the Pilbara lithium province of Western Australia.
The $27.80 million market capitalisation company says the pegmatites were identified and sampled in the west and south of its Western Shaw leases, with ‘encouraging’ lithium results from mobile X-ray fluorescence (XRF) analysis. The pegmatites appeared ‘larger’ and more abundant in the southern section.
Meanwhile, rockchip sampling over outcropping pegmatites is underway across four ‘large’ project areas: Split Rock, Western Shaw, Yule River, and additional areas at Turner River.
QX says extensive trenching and sampling will take place across the new areas of interest once initial sample results have been confirmed and prior to any follow-up drilling.
The company’s exploration work in the Pilbara is primarily focused on testing potential new areas of lithium hard rock mineralisation.
Commenting on these new discoveries, QX Resources Managing Director Steve Promnitz says: “Multiple new targets are being generated, with initial work yielding encouraging results, especially around identified pegmatites.
“The Pilbara continues to be reaffirmed as the prime location globally for major lithium hard rock discoveries”
The Pilbara continues to be reaffirmed as the prime location globally for major lithium hard rock discoveries, and QXR holds favourable ground in the heart of the Pilbara. We are keen to advance exploration promptly.”
QX notes that surface sampling and mapping are currently underway across the outcropping pegmatites, with the key target being the contact zone between greenstones and granitoids known to be permissive for lithium mineralisation of the Split Rock Supersuite.
Further, detailed high-resolution airborne geophysics are scheduled over the next 2 weeks over the Turner River Project, which has an identified ‘significant’ lithium mineralisation halo.
Data will be merged with district-scale geophysics and detailed spectral image analysis to differentiate favourable areas around the pegmatites.
QX Resources is an exploration company with hard rock lithium assets in Western Australia and gold assets in Queensland. As of 30 June 2023, the company had $1.8 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: QX Resources
