Rubix Resources Limited has advanced its exploration agenda with a $275,000 grant awarded to test the chargeability anomaly at its Grunter prospect, part of the Paperbark project. The company reported a solid cash position of $1.46 million at the end of March 2025, underpinning ongoing activities across multiple projects.
- Awarded $275,000 CEI grant for Grunter prospect drilling
- Preparation underway for early June drilling at Paperbark project
- Active stakeholder engagement with Waanyi Native Title Corporation
- Exploration activities across Queensland and Quebec projects
- Maintained cash balance of $1.46 million with $64k spent on exploration
Exploration Advances at Paperbark
Rubix Resources Limited (ASX: RB6) has made significant strides in its March 2025 quarter exploration activities, notably preparing for a drilling campaign at the Grunter prospect within its Paperbark project. Scheduled for early June, this drilling aims to test a prominent chargeability anomaly identified through geophysical surveys, which is believed to be associated with copper sulphide mineralisation.
The company’s efforts received a boost with the award of the maximum Competitive Exploration Initiative (CEI) grant of $275,000 from the Queensland Department of Resources. This funding will support the drilling program designed to pinpoint the source of the anomaly and advance understanding of the mineralisation potential at Grunter.
Broader Exploration and Geochemical Studies
Beyond Grunter, Rubix continues to conduct geochemical and geochronological sampling across its Paperbark and Redbeds projects. These studies aim to characterise the host lithologies and alteration signatures, providing critical context for mineralisation within the Mount Isa Inlier region. The Redbeds project, strategically positioned near major structural faults, has seen renewed interest with mapping and sampling activities targeting sediment-hosted copper and IOCG-style deposits.
Stakeholder Engagement and Regional Presence
Rubix has also strengthened its relationship with the Waanyi Native Title Aboriginal Corporation, participating in the inaugural Waanyi RNTBC Stakeholder Day in Brisbane. This engagement underscores the company’s commitment to working collaboratively with traditional owners and stakeholders, fostering positive relations that support exploration on Waanyi country.
Diverse Project Portfolio
The company’s exploration footprint extends beyond Queensland, with ongoing preparatory work at the Etheridge gold project in northern Queensland and the Lake Johnston nickel-copper-PGE-lithium project in Western Australia. Additionally, Rubix is advancing its Ceiling lithium project in Quebec, Canada, where desktop studies have confirmed the presence of fertile lithium pegmatites, setting the stage for future exploration.
Financial Position and Outlook
Rubix closed the quarter with a cash balance of $1.46 million, having expended $64,000 on exploration activities. Related party payments amounted to $61,000, consistent with director service agreements. The company reported no tenement acquisitions or disposals during the period and continues to review new exploration opportunities aligned with its strategic objectives to unlock shareholder value.
Bottom Line?
With drilling imminent at Grunter and a solid cash position, Rubix Resources is poised to deliver critical exploration results that could reshape its project prospects.
Questions in the middle?
- What initial assay results will the upcoming Grunter drilling yield, and how might they impact resource estimates?
- How will Rubix leverage its strengthened relationship with the Waanyi Native Title Corporation in advancing exploration?
- What are the timelines and next steps for exploration at the Ceiling lithium project in Quebec?