QX Resources Ltd: Quarterly Activities Report

Perth, Australia - QX Resources Ltd. (ASX:QXR) provide the Quarterly Activities Report for Period Ended 30 June 2024 with the following highlights in operations.

Liberty Lithium Brine Project, USA

Drilling and geophysics confirmed a large brine basin with multiple brine horizon targets intersected over 400 m vertically at the Liberty Lithium Brine Project USA.

Geological similarities confirmed with the nearby Silver Peak lithium brine producer Albemarle, in Clayton Valley Nevada, with encouraging initial lithium assay results, aquifers and salinity.

Lithium brine specialists have proposed additional drilling to intersect deep lithium brines in the centre of the basin, in a more favourable setting, further west of recent drilling.

Discussions continue with USA based battery supply participants, including with Stardust Power Inc, a development stage American manufacturer of battery-grade lithium products, who commenced trading on NASDAQ in early July valued c.US$400m.

Gold Projects - Central Queensland

High grade gold trenching programme planned at Big Red in central Queensland. Previous trenching returned high grade gold results including 9m @ 5.9g/t Au. Gold mineralisation remains open along strike under cover.

Reassessment of two shuttered gold mines within QXRs ground has commenced as these mines were last operated when the gold price was less than A$500/oz.

Gold projects are in the Drummond Basin in Queensland - a region with a long history of ongoing gold mining region with an endowment of over 8.5 million ounces.

Pilbara Iron Ore Project

Discussions are underway after planning a detailed rockchip sampling programme over Iron Ore Samples with up to 58.5% Fe in rockchip samples over 4km of enriched iron ore over a Banded Iron Formation (BIF) at Western Shaw in the Pilbara.

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About QX Resources Ltd:

QX Resources Limited (ASX:QXR) is focused on exploration and development of battery minerals, with hard rock lithium assets in a prime location of Western Australia (WA), and gold assets in Queensland. The aim is to connect end users (battery, cathode and car makers) with QXR, an experienced explorer/developer of battery minerals, with an expanding mineral exploration project portfolio and solid financial support.

Lithium hard rock portfolio: QXR's lithium strategy is centred around WA's prolific Pilbara province, where it has four projects in strategic proximity to some of Australia's largest lithium deposits and mines. Across the Pilbara, QXR's regional lithium tenement package (both granted or under application) spans more than 350 km2.

Lithium brine: QXR drilling and geophysics indicate the existence of a large brine basin at the Liberty Lithium Brine Project USA and geological similarities confirmed with the nearby Silver Peak lithium brine producer Albemarle, in Clayton Valley Nevada. QXR holds an Option to Purchase Agreement to earn-in to 75%.

Gold portfolio: QXR is developing Central Queensland gold projects through a 70% agreement with Zamia Resources Pty Ltd and also on a 100% basis. The gold and copper-gold-moly projects are strategically located within the Drummond Basin, a region that has a >8.5moz gold endowment.

Nickel sulphides: QXR has a significant 39% shareholding in unlisted public Australian company Bayrock Resources Limited, which has a portfolio of highly prospective battery minerals assets in Sweden, primarily in nickel, cobalt and copper. QXR is assisting Bayrock with project development and financing initiatives.

Source:
QX Resources Ltd

Contact:

Steve Promnitz Managing Director T: +61-423-333-296 E: steve@qxresources.com.au Maurice Feilich Executive Chairman T: +61-411-545-262 Sam Jacobs Six Degrees Investor Relations T: +61-423-755-909