What Could Rubix’s New Asset Acquisition Mean for Its Queensland Projects?

Quarterly Exploration Progress

Rubix Resources Limited has reported the completion of co-funded drilling activities at its Paperbark Project in Queensland for the quarter ending September 30, 2025. The drilling focused on chargeability targets and associated surface mineralisation at the Grunter and JB Zones, known for lead-zinc mineralisation. The company has modified its drilling plan to better align with geophysical anomalies, relocating some holes to target the strongest chargeability anomalies beneath known mineralisation.

Assay results from the recent drilling campaign are anticipated within the next few weeks, which will provide critical insights into the mineral potential of the Paperbark Project. Additionally, samples have been prepared for geochronological analysis at Curtin University to better understand the mineral alteration systems, which could inform future exploration strategies in the Mount Isa Inlier region.

Broader Exploration and Project Updates

Beyond Paperbark, Rubix continues to advance exploration at several other projects. At the Redbeds Project, also in Queensland, fieldwork and cultural heritage discussions with local landholders are ongoing, with a focus on the Creek target known for copper occurrences. The Etheridge Project remains highly prospective for intrusion-related gold mineralisation and LCT-type pegmatites, with historic data and recent sampling supporting continuity of mineralised lines through the company’s tenure.

In Western Australia, the Lake Johnston Project is undergoing limited desktop studies as the company completes its acquisition process, with plans to test nickel-copper-PGE potential in the near future. Meanwhile, in Quebec, Canada, the Ceiling Project is progressing with renewed exploration licenses and desktop studies highlighting the presence of lithium-bearing pegmatites and potential gold mineralisation within greenstone belts.

Financial Position and Corporate Activity

Rubix Resources reported a cash balance of AUD 247,000 at the end of the quarter, following exploration expenditure of AUD 642,000. There were no production or development activities during the period. Payments related to key management and service agreements amounted to AUD 61,000. The company confirms it remains well-positioned to fund ongoing exploration activities and is actively pursuing capital initiatives to support its growth objectives.

Importantly, Rubix is progressing due diligence on a potential new asset acquisition, which could complement its existing portfolio and enhance shareholder value. While details remain confidential, the company has signaled that updates will be provided as appropriate.

Looking Ahead

With assay results pending from the Paperbark drilling and ongoing evaluations across multiple projects, Rubix Resources is poised to refine its exploration targets and potentially expand its resource base. The integration of new data and the outcome of the asset acquisition due diligence will be key developments to watch in the coming months.