Rubix Targets Untested High-Grade Copper Anomalies at Paperbark
Rubix Resources has identified significant untested chargeability anomalies at its Paperbark project, submitting applications for co-funding to drill these promising targets while progressing exploration across its diversified portfolio.
- Three major chargeability anomalies identified at Paperbark, including a large untested copper target at Grunter North
- Application submitted for Queensland CEI co-funding to drill-test Paperbark anomalies
- High-resolution airborne magnetic survey planned for Redbeds project to refine structural mapping
- Continued desktop evaluation of lithium and base metal potential at Ceiling and Lake Johnston projects
- Cash position stands at $1.673 million with ongoing exploration expenditure of $63,000 for the quarter
Exploration Highlights at Paperbark
Rubix Resources Limited (ASX: RB6) has reported a focused quarter on its Paperbark project in Queensland, where induced polarisation (IP) surveys have revealed three compelling chargeability anomalies. These anomalies, particularly the large target at Grunter North, remain untested by drilling and present significant potential for copper mineralisation. Surface rock chips at Grunter North have returned grades up to 42% copper, underscoring the prospectivity of this target.
The company has submitted an application to Round 9 of Queensland's Collaborative Exploration Initiative (CEI) seeking co-funding to drill-test these anomalies. The CEI program aims to accelerate discovery of critical minerals essential for technology and renewable energy sectors. While Rubix is optimistic about the merits of its targets, funding decisions are expected by April 1, and are not guaranteed.
Geophysical Insights and Untested Targets
The IP survey data, collected over nine lines and modelled in 3D, delineates three key chargeability features: Grunter North, JB Zone, and a previously unrecognised Central Anomaly. The Grunter North anomaly, approximately 600m by 300m by 200m, aligns with the Grunter Fault and is associated with magnetite-destructive alteration, suggesting a robust hydrothermal system. JB Zone's anomaly underlies known zinc-lead mineralisation and has only been partially drilled, with disseminated copper sulphides noted at depth.
The Central Anomaly is particularly intriguing as a blind target with no surface geochemical expression but associated with silica-dolomite alteration and structural flexures along the Grunter Fault. This area has never been drilled, representing a fresh exploration frontier for Rubix.
Advancing Redbeds and Other Projects
Beyond Paperbark, Rubix is advancing its Redbeds project with plans for a high-resolution airborne magnetic survey to refine structural interpretations. The recent recovery and reprocessing of a 2007 ground gravity survey over the Fiery Creek West area has enhanced understanding of complex faulted and folded units, which are prospective for sediment-hosted copper and IOCG-style mineralisation.
Meanwhile, the company continues desktop evaluations at its Ceiling lithium project in Quebec and the Lake Johnston nickel-copper-PGE project in Western Australia. Both projects remain in early stages, with Rubix monitoring market conditions for lithium and base metals to guide future exploration activities.
Financial Position and Corporate Updates
Rubix closed the quarter with $1.673 million in cash and reported exploration and evaluation expenditure of $63,000. There were no tenement acquisitions or disposals during the period. Related party payments amounted to $61,000, consistent with director service agreements. The company maintains a disciplined approach to capital management while pursuing its exploration objectives.
Rubix also continues to assess new exploration opportunities aligned with its strategic goal to deliver substantive shareholder value, signaling an active pipeline beyond its current project portfolio.
Bottom Line?
Rubix’s upcoming drilling decisions and CEI funding outcome will be pivotal in unlocking value from its promising Paperbark anomalies.
Questions in the middle?
- Will Rubix secure CEI funding to advance drilling at Paperbark’s untested chargeability targets?
- How might the planned airborne survey at Redbeds refine exploration priorities and timelines?
- What is the company’s strategy for progressing lithium potential at Ceiling amid fluctuating market demand?
