Mineral exploration company SQX Resources (ASX:SQX) has begun a 2,500m reverse circulation (RC) and diamond drilling program at the Scrub Paddock prospect in Queensland.
The initial drill program is intended to target known gold and copper mineralisation, which is presently defined by mineralised drill intercepts and a surface gold-arsenic-copper anomalism that extends across a 2km strike length.
Due to the scale of this surface anomaly and a geological setting that is potentially similar to Cadia/Ridgeway, SQX will target a large gold-copper porphyry located about 130km from Brisbane.
Commenting on the drill program, SQX’s Chief Executive Officer (CEO) Mark Purcell says: “The SQX team is pleased to have achieved another milestone, with drilling now underway at Scrub Paddock. We are looking forward to receiving assay results to better understand mineralisation in the area, with initial results expected within Q2 2023.”
“We are looking forward to receiving assay results to better understand mineralisation in the area, with initial results expected within Q2 2023”
The company says Scrub Paddock is a potential gold-copper porphyry, noting the prospect featuring more than 20 historical mine workings with surface mineralisation extending across a strike length of about 2km.
SQX reports that soil sampling and drilling have already confirmed gold and copper mineralisation. Yet, the extent of this mineralisation along the strike of the surface anomaly as well as the depth is unknown. SQX intends to drill its initial priority targets shortly after listing, with the aim of defining an economic mineral resource.
SQX Resources’ current focus is on gold and copper mineralisation at the Ollenburgs and Scrub Paddock prospects, located in the underexplored Esk Basin in southeast Queensland. The prospects are near major regional infrastructure and population centres. Both Ollenburgs and Scrub Paddock feature known mineralisation and historical mine workings.
Images: SQX Resources Ltd
