SQX Resources has delivered a compelling maiden drilling campaign at its Red Bird Gold Project in Arizona, revealing a substantial, near-surface gold system with multiple high-grade intercepts and open-ended potential. Concurrent exploration progress at Williams and Queensland projects rounds out a busy quarter.
- Maiden 2,509m drilling defines broad, high-grade gold system at Red Bird
- IP geophysical survey completed to refine deep and strike drill targets
- Resource evaluation and heap-leach metallurgical test-work underway
- Williams project plans extensive rock-chip sampling and EM surveys
- Australian projects reviewed with further exploration planned for 2027
Maiden Drilling at Red Bird Establishes Significant Gold System
SQX Resources Limited (ASX:SQX) has wrapped up its maiden 2,509m reverse circulation drilling program at the Red Bird Gold Project in Arizona, delivering a series of wide, high-grade gold intercepts that redefine the scale and continuity of the mineralisation. The 25-hole campaign confirmed a near-surface gold system with vertical continuity to at least 60m depth, featuring standout intercepts such as 45.7m at 1.3g/t Au from 4.6m and 42.7m at 1.4g/t Au from 4.6m, including higher-grade zones within these intervals.
Gold mineralisation was intersected from surface or near surface in multiple holes, highlighting that historical mining focused on discrete ultra-high-grade zones, leaving substantial mineralisation unmined. The broad, shallow intercepts underpin the potential for a low-cost, bulk-tonnage open-pit mining scenario. The system remains open in multiple directions, with new footwall intercepts revealing previously untested prospective areas.
Geophysical Survey and Resource Work Set Stage for Next Drilling Phase
Complementing the drilling, SQX completed a pole-dipole induced polarisation (IP) survey over the Red Bird area, designed to detect subsurface alteration and structures that control mineralisation. The survey’s three 1.6km lines target conductive and chargeable zones that will help refine drill targeting at depth and along strike, aligning with a fault-controlled strata-bound model where gold concentrates within low-dipping limy conglomerate units.
Internal resource evaluation and mining scenario assessments are underway following the receipt of all assay results. Additionally, a metallurgical test-work program is planned to evaluate heap leaching amenability, a key factor for economic extraction. These technical steps are critical before advancing to a follow-up drilling program aimed at expanding the mineralised zone.
Williams Project Advances with High-Grade Sampling and Mapping Plans
At the Williams Gold-Silver Project in Montana, SQX progressed planning for an extensive surface rock-chip and mapping program across eight known mineralised vein structures. Historical data from the Black Bear veins include impressive assays, such as a stope grading 141.7g/t Au and 780g/t Ag, and recent chip-channel sampling by SQX confirmed high-grade zones with assays like 0.6m at 75.1g/t Au and 576g/t Ag.
Following detailed mapping and sampling, the company intends to conduct fixed-loop electromagnetics (EM) surveys and drilling, subject to funding. The expanded ground position supports a district-scale exploration approach, testing multiple vein positions in parallel.
Australian Projects and Corporate Update
Back in Australia, SQX reviewed historical data for its Ollenburgs and Scrub Paddock prospects in southeast Queensland’s Esk Basin. Following prior IP surveys and drilling that identified chargeability anomalies and gold mineralisation, the company has designed an infill IP program to better define targets ahead of potential drilling in the 2027 financial year.
Financially, SQX ended the quarter with $583,000 in cash, having spent $436,000 on exploration and $194,000 on operating costs. Post-quarter, the company issued 2.4 million new performance rights to exploration staff and converted 21.3 million performance rights into fully paid shares, reflecting progress on milestone achievements.
Bottom Line?
SQX’s maiden drilling at Red Bird lays a solid foundation, but the upcoming resource evaluation and metallurgical results will be pivotal in shaping its development trajectory.
Questions in the middle?
- How will the upcoming metallurgical test results influence the economic viability of Red Bird’s heap leach potential?
- What funding strategies will SQX pursue to support the next phase of drilling and exploration at Williams and Queensland projects?
- Can the fault-controlled strata-bound model at Red Bird reliably guide discovery of extensions and new zones?