SQX Resources has completed its acquisition of an 80% interest in AM6 Pty Ltd, gaining control of two promising gold and silver projects in Montana and Arizona. The move is bolstered by recent high-grade sampling results and the appointment of a seasoned executive director.
- Acquisition of 80% interest in AM6 Pty Ltd completed
- Secures Williams Au-Ag Project in Montana and Red Bird Au Project in Arizona
- Consideration includes shares, cash, and performance rights tied to exploration milestones
- Appointment of Dr Julian Stephens as Executive Director to strengthen technical leadership
- Recent sampling confirms bonanza-grade mineralisation, supporting upcoming drilling
Acquisition Completion Marks Strategic Expansion
SQX Resources Limited (ASX, SQX) has taken a significant step in expanding its footprint in North America by completing the acquisition of an 80% stake in AM6 Pty Ltd. This acquisition grants SQX control over two high-grade precious metals projects, the Williams Gold-Silver Project in Montana and the Red Bird Gold Project in Arizona. The deal, announced in early January 2026, follows the satisfaction of all conditions precedent including shareholder approval and regulatory consents.
Deal Structure and Performance Incentives
The acquisition consideration is a mix of 20 million fully paid SQX shares, a $250,000 cash payment, and 30 million performance rights. These rights are structured to vest in tranches upon achieving key exploration and development milestones, such as completing a 1,500-metre drilling program and defining a mineral resource estimate of at least 300,000 ounces of gold equivalent. This milestone-based approach aligns incentives and underscores the company's commitment to advancing these projects efficiently.
Technical Validation and Exploration Upside
Recent sampling programs at both projects have reinforced their high-grade potential. At the Williams Project, underground sampling has confirmed bonanza-grade gold and silver shoots within epithermal vein structures, with assays showing impressive grades. Similarly, the Red Bird Project's 2025 sampling results validate historical data, revealing wide-interval epithermal gold mineralisation close to surface, which could be amenable to open-pit mining. These findings provide a strong foundation for upcoming drilling campaigns aimed at resource definition.
Strengthening Leadership with North American Expertise
To support this strategic expansion, SQX has appointed Dr Julian Stephens as an Executive Director. Dr Stephens brings over 25 years of experience in economic geology, with a focus on gold systems and extensive operational knowledge in North America. His expertise is expected to enhance SQX’s exploration strategy and investor engagement as the company advances these projects.
Looking Ahead
With ownership secured and technical groundwork underway, SQX is positioned to rapidly progress exploration activities. The company’s focus will be on drilling programs designed to unlock the full potential of these bonanza-grade assets, with performance rights milestones providing clear markers for success. Investors will be watching closely as SQX moves from acquisition to active development in these promising US jurisdictions.
Bottom Line?
SQX’s acquisition and leadership boost set the stage for a pivotal exploration phase with high stakes for resource growth.
Questions in the middle?
- How soon will SQX commence and complete the planned drilling programs?
- What are the prospects for converting performance rights into shares based on exploration success?
- How will Dr Julian Stephens’ appointment influence the pace and scale of project development?