- QX Resources’ (ASX:QXR) owns 39% of unlisted Aussie company Bayrock Resources
- Bayrock has expanded the mineral lease area by ~33% at the Vuostok project in Sweden
- Encouraging nickel-copper sulphide samples located in the new extended lease area
- Vuostok is within 60km of Bayrock’s high-grade Lainejaur nickel-copper-cobalt project
QX Resources-backed Bayrock Resources has expanded the mineral lease area around its promising Vuostok nickel-copper project in Northern Sweden.
In July, the Steve Promnitz-led lithium explorer QX Resources’ (ASX:QXR) acquired 39% of the unlisted Aussie company Bayrock Resources, which has a portfolio of nickel-copper-cobalt projects in Sweden.
Bayrock’s Vuostok project is located roughly 60km northwest of Lainejaur, offering a potential joint development opportunity as a ‘district play’.
The newly added Nr 102 lease expands the total mineral lease by 33% at Vuostok, which QXR says could be within potential trucking distance to Lainejaur given the well-established all-weather road network and supporting infrastructure in the district.
“This would benefit any future stand-alone nickel-copper-cobalt operations or provide additional ore feed for a possible Lainejaur development,” the company says.
“Trucking of ore material for processing is a regular feature of operations in this part of northern Sweden.”
Further updates anticipated
In another exciting development, significant nickel-copper assay results have been identified from boulders located within the new Vuostok lease and from drill results near surface at Vuostok.
The company says these results underpin Bayrock’s decision to significantly expand the prospect.
“This is turning into a genuine potential district scale operation given the proximity of Bayrock’s Lainejaur and Vuostok Projects in a mining friendly region of Sweden,” QXR managing director Steve Promnitz says.
“Further updates are anticipated as Bayrock continues exploration across another highly prospective asset, the Notträsk Project, one of Bayrock’s six 100% owned nickel copper projects.”
Highly encouraging widths of nickel-copper mineralisation
The recently released assays by Bayrock highlight significant widths of nickel-copper mineralisation from eight holes at the Storbodsund Prospect within Vuostok.
The results include:
- 6.2m at 1.2% Ni, 2.2% Cu, 0.04% Co from 11m down hole (VUO23011);
- 6.9m at 1.2% Ni, 0.3% Cu, 0.05% Co from 5.1m down hole, including 0.4m at 3.9% Ni, 0.3% Cu, 0.11% Co from 6.85m down hole (VUO23013);
- 0.7m at 3.2% Ni, 1.0% Cu, 0.08% Co from 10.3m down hole (VUO23004); and
- 0.9m at 1.2% Ni, 0.1% Cu, 0.08% Co from 6m down hole (VUO23005).
QXR says the results indicate near surface massive nickel-copper sulphides between 0.3-6m thick, less than 18m from surface and beneath a thin cover of glacial sediments.
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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