SQX Resources (ASX:SQX) is planning induced polarisation (IP) geophysics and soil geochemistry at the Scrub Paddock prospect in Queensland, to define new copper-gold drill targets.
The work is planned to be undertaken over two areas of interest identified via soil geochemical coverage, Area 1 and Area 2, as well as to the north of borehole SP004.
“Area One, near the Elgin Vale Diorite’s western contact, holds particular promise for mineralisation. Meanwhile, Area Two presents additional opportunities aligned with existing mineralisation trends,” Executive Chairman Patric Glovac says.
“With plans for further surveys and refinement of exploration strategies, we’re optimistic about unlocking the full potential of these promising sites.”
SQX previously conducted a soil sampling program at Scrub Paddock with the aim of extending the surface geochemistry further west and southwest from the main geochemical anomaly. This is expected to include features uncovered in the regional magnetics and the IP survey completed in 2022.
The company says the magnetic features and IP chargeability anomaly could potentially represent alteration or copper-gold mineralisation in the Elgin Vale Diorite intrusion or the adjacent Neara Volcanics.
Assays identified anomalous copper and arsenic, and detected trace levels of gold associated with other elements.
The Scrub Paddock prospect lies 180km northwest of Brisbane, Queensland.
SQX Resources is a modern mineral explorer focused on gold and copper mineralisation in Queensland.
As of 31 December 2023, the company had about $2.46 million in cash and cash equivalents at hand, according to its latest financial report.
Write to Aaliyah Rogan at Mining.com.au
Images: SQX Resources
