Winner, winner, brines for dinner: QX Resources scores with first hole at Liberty Lithium brine project

• QX Resources has completed drilling the first hole at its Liberty Lithium brine project in California
• Drilling will kick off at the second hole within the next few days
• Results are expected within six weeks

Special Report: QX Resources has intersected brines at shallower levels than expected during a two-hole diamond drill program at the Liberty Lithium brine project in the US, already one of the largest lithium brine projects in the country.  

QX Resources (ASX:QXR) has been carrying out a two-hole diamond drilling program across the large-scale Liberty Lithium brine project in California, US, with all the hallmarks of success including the right geochemistry, geophysics and geological setting.

The first of two large diameter diamond drillholes holes (500m each) are centred over the highest values of an extensive lithium brine surface anomaly over 10km in auger samples.

This hole intersected brines at multiple depths in “favourable geology”, QXR says, with the hole producing brines at a good rate.

The company says target horizons were intersected at 49m and 329m depths with large brine volumes (>20,000 litres) being pumped currently.

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Drilling to kick off at second diamond hole

Meanwhile, the second hole – 4km to the south – is centred over a significant magnetotellurics (MT) geophysical target that has been interpreted as suggesting a series of conductive brine bearing aquifers at depth.

Drilling here will kick off in the coming days.

Both holes are positioned within an extensive lithium brine surface anomaly of over 10km defined in auger samples

Second hole could deliver ‘better results’

“This is a great start, and we look forward to updating the market with assays in six weeks,” QXR managing director Stephen Promnitz says.

“The second hole may well deliver even better results due to its favourable position to encounter more downhole intercepts of brines.

“The Liberty Lithium project is a large lithium brine target and has the hallmarks of a successful brine project. I’m looking forward to keeping investors updated with results and further drilling.”

This article was developed in collaboration with QX Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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