Announcement • Apr 17
QX Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.255 million. QX Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.255 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 205,000,000
Price\Range: AUD 0.005
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 46,000,000
Price\Range: AUD 0.005
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Feb 03
QX Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.23 million. QX Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.23 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 200,000,000
Price\Range: AUD 0.005
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 46,000,000
Price\Range: AUD 0.005
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Sep 09
QX Resources Limited, Annual General Meeting, Nov 13, 2025 QX Resources Limited, Annual General Meeting, Nov 13, 2025. New Risk • Sep 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 48% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (34% average weekly change). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (48% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$8.19m market cap, or US$5.35m). Announcement • Sep 03
QX Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.310329 million. QX Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.310329 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 327,582,217
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00016
Transaction Features: Subsequent Direct Listing Announcement • Aug 26
QX Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.818956 million. QX Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.818956 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 204,738,885
Price\Range: AUD 0.004
Security Features: Attached Options
Transaction Features: Rights Offering Announcement • Jan 17
QX Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million. QX Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 170,000,000
Price\Range: AUD 0.005
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 30,000,000
Price\Range: AUD 0.005
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Nov 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 25% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$6.40m market cap, or US$4.21m). Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). Announcement • Oct 28
QX Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million. QX Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 170,000,000
Price\Range: AUD 0.005
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 30,000,000
Price\Range: AUD 0.005
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Sep 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.8m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 29% per year over the past 5 years. Revenue is less than US$1m (AU$134k revenue, or US$92k). Market cap is less than US$10m (AU$7.77m market cap, or US$5.37m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (24% increase in shares outstanding). Announcement • Sep 20
QX Resources Limited, Annual General Meeting, Nov 21, 2024 QX Resources Limited, Annual General Meeting, Nov 21, 2024. New Risk • Jun 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.8m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 29% per year over the past 5 years. Revenue is less than US$1m (AU$134k revenue, or US$89k). Market cap is less than US$10m (AU$7.77m market cap, or US$5.17m). Minor Risk Shareholders have been diluted in the past year (24% increase in shares outstanding). New Risk • May 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$12.2m (US$7.94m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.8m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 29% per year over the past 5 years. Revenue is less than US$1m (AU$134k revenue, or US$87k). Market cap is less than US$10m (AU$12.2m market cap, or US$7.94m). Minor Risk Shareholders have been diluted in the past year (24% increase in shares outstanding). New Risk • Feb 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.7m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 32% per year over the past 5 years. Revenue is less than US$1m (AU$134k revenue, or US$87k). Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (AU$30.0m market cap, or US$19.5m). Announcement • Oct 27
QX Resources Limited Announces Resignation of Benjamin Jarvis, Effective 27 October 2023 QX Resources Limited announced the resignation of Mr. Benjamin Jarvis, effective from 27 October 2023, due to the increased commitments required for his other business opportunities. New Risk • Oct 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.7m free cash flow). Earnings have declined by 32% per year over the past 5 years. Revenue is less than US$1m (AU$134k revenue, or US$85k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Market cap is less than US$100m (AU$20.7m market cap, or US$13.2m). New Risk • Sep 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.7m free cash flow). Earnings have declined by 32% per year over the past 5 years. Revenue is less than US$1m (AU$231k revenue, or US$148k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (4.4% increase in shares outstanding). Market cap is less than US$100m (AU$21.5m market cap, or US$13.8m). Announcement • Sep 30
QX Resources Limited, Annual General Meeting, Nov 29, 2023 QX Resources Limited, Annual General Meeting, Nov 29, 2023, at 12:00 E. Australia Standard Time. Location: Sanlam Private Wealth, Level 2, 33 York Street Sydney Australia Announcement • May 18
QX Resources Limited agreed to acquire Liberty Lithium project in California, USA. QX Resources Limited entered into letter of intent agreement to acquire Liberty Lithium project in California, USA on May 17, 2023. The LOI provides QXR with a 75 day exclusivity period to undertake due diligence and negotiate terms for a potential acquisition of 75% of the project. . A fee of USD 50,000 will be paid for this exclusive LOI period, which would become a break fee if a transaction was not finalized. Announcement • Feb 18
QX Resources Limited Recommences RC Drilling at the 100%-Owned Turner River Hard Rock Lithium Project QX Resources Limited provided that it has recommenced RC drilling at the Company's 100%-owned Turner River hard rock lithium project, located 15 km to south-east of Mineral Resources' Wodgina lithium mine, located within the Pilbara lithium province of Western Australia. In December 2022, QXR undertook a ~1,200m maiden RC drill program at Turner River. The maiden program produced encouraging indications of significant areas of potential lithium bearing pegmatites observed in drill pads and drill chips at QXR's 100%-owned Turner River hard rock lithium project (Carbonate Hill prospect). These indications extend beyond the area with previously reported high grade rock chip samples of 1.6% Li2O, 1.1% Li2O and 4.9% Li2O. Pegmatites and potential lithium rich micas were intersected in the maiden drilling, based on visual observations, which achieved the aim of the maiden drill program. Drilling targeted the potential for either lithium mica and spodumene bearing pegmatites, or a new style of large tonnage hard rock lithium deposit hosted near the top of a large granite body rich in lithium micas. Assay results from the first phase of the program are anticipated in mid-February. Results from the follow-up program are expected ~6 weeks after completion of the program. The Yule River project (140km2) has been granted for an initial 5-year term. The Yule River project is an exploration stage package which lies wholly within the Yule Granitoid Complex, which has interpreted pegmatite occurrences (Figure 5). From initial due diligence, the Company understands the granite within the tenement has been intruded by the Split Rock Supersuite with which the Wodgina, Pilgangoora and Global Lithium deposits are associated. All of the tenements applied for by the Company are now fully granted in the highly-prospective Pilbara lithium region, following the grant of Yule River. Announcement • Dec 13
QX Resources Limited Commences Drilling on New Lithium Project At Turner River QX Resources Limited has commenced a maiden 1,500 metre RC drilling programme at QXR's 100%-owned Turner River hard rock lithium project, located 15 km to south-east of Mineral Resources' Wodgina lithium mine located within the Pilbara lithium province of Western Australia. Drilling is targeting the potential for either lithium mica and spodumene bearing pegmatites, or a new style of large tonnage hard rock lithium deposit hosted near the top of a large granite body rich in lithium micas (lepidolite). An example is the Cinovec deposit in the Czech Republic. Both target styles of lithium mineralisation are interpreted to extend under thin regolith cover at the Carbonate Hill prospect within the Turner River Project exploration licences (E45/6042, E45/6065). Similar types of lithium deposits have been located in WA and other countries, but are yet to be defined as major lithium projects in Australia. An airborne geophysical survey is planned to provide subsurface information to help assess extensions of lithium micas minerals at depth over a 3 km x 1 km target area and over the project licence areas. Current drilling is planned over an area of 400m x 300m in four drill ‘fences’ of angled holes. Recently reported rock chip samples of 1.6% Li2O, 1.1% Li2O and 4.9% Li2O were returned from large, coarse grained sub-crop of lepidolite, a lithium rich mica sought after by some end users. Technical consultants, Resource Potentials, led by Dr Jayson Meyers, who have significant experience in the Pilbara lithium region and at nearby operating mines, have been engaged to oversee the Company's maiden RC drilling program. Government approvals for drilling were obtained, an access track and drill pads cleared, and the RC drilling rig has arrived at site and commenced drilling. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Ben Jarvis was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 12
QX Resources Limited Commence Drilling This Month At Turner River Lithium QX Resources Limited announced that it has secured a drill rig to commence a maiden 1,500 metre RC drilling programme in the last week of November 2022 at QXR's 100%-owned Turner River hard rock lithium project, located 15 km south of the Wodgina lithium mine within the Pilbara lithium province, Western Australia. Drilling will target three areas including the high grade lithium area located in and around the recently reported rock chip samples of 1.6% Li2O, 1.1% Li2O and 4.9% Li2O at the Carbonate Hill prospect at Turner River (E45/6042 & E45/6065). This prospect covers an area 350 metres x 200 metres which now extends under cover. A Programme of Works (PoW) has been submitted and approved for the drill programme with Topdrill to undertake the works. Two other areas will also be drill tested at Turner River. Further surface sampling is about to commence together with a detailed geophysical survey which is being planned. Technical consultants, Resource Potentials have been engaged, led by Dr Jason Myers who has significant experience in the Pilbara lithium region to undertake a comprehensive geophysical database review and oversee the upcoming drill program. Announcement • Nov 09
QX Resources Limited Reports Further Assay Results Confirming High Grade Lithium from Recent Rock Sampling Program At Its 100%-Owned Turner River Hard Rock Lithium Project QX Resources Limited reports further assay results confirming high grade lithium from recent rock sampling program at its 100%-owned Turner River hard rock lithium project, located south of the Wodgina lithium mine within the Pilbara lithium province, Western Australia. Latest results include 1.6% % Li2O and 1.1% Li2O from rock-chip sampling at the previously identified Carbonate Hill prospect at Turner River (E45/6042 & E45/6065), where previous sampling of 4.9% Li2O was confirmed with the lithium bearing mineral lepidolite. With these latest results, this prospect covers an area 350 metres x 200 metres which now extends under cover. Coincident elevated tin and rare earth results (strong Li-Cs-Rb-Sn response) are from interpreted pegmatiteshosted within a monzogranite. The surface outcrop appears more subtle than typical pegmatites in the Pilbara. A new area of interest has also been identified at Turner River, with similar elevated tin results and bleachedzones as the Carbonate Hill prospect and straddles a linear feature interpreted as a potential pegmatite, althoughmapped as a quartz vein nearby. QXR is planning an RC drill program in the Carbonate Hill prospect area and over two other anomalous areas atTurner River. Announcement • Oct 18
QX Resources Limited, Annual General Meeting, Nov 30, 2022 QX Resources Limited, Annual General Meeting, Nov 30, 2022. Agenda: To consider and approve the re-election and appointment of directors. Recent Insider Transactions Derivative • Oct 07
Executive Chairman exercised options to buy AU$635k worth of stock. On the 5th of October, Maurice Feilich exercised 10.00m options at around AU$0.025, then sold 1.30m of them at AU$0.053 each and kept the remainder. Since June 2022, Maurice has owned 11.20m shares directly. Company insiders have collectively bought AU$175k more than they sold, via options and on-market transactions, in the last 12 months. Board Change • Sep 29
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Ben Jarvis was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 15
QX Resources Announces Extensive Sampling Completed At WA Lithium Projects QX Resources Limited advised that the Company's geological consultants have recently completed a 2-week follow-up sampling program at its 100%-owned Turner River, Western Shaw and Split Rock Lithium projects located within the Pilbara lithium province, Western Australia. Across the projects, the Company's consultants obtained 259 rock chip samples. Samples have been dispatched to ALS Laboratories in Perth, with results expected by mid-October. Turner River At Turner River, the sampling program followed-up numerous priority areas where previous programs have returned lithium anomalous results from rock-chip sampling and including confirmation of the presence of the lithium bearing mineral lepidolite (4.9% Li2O). The most significant lithium responses reported to samples TR010, 011 and 012 which were taken from a reported tin prospect in the north-eastern part of tenement E45/6042. The site had evidence of shallow trenching and with micaceous clumps common on the waste piles. The analysis of this mica revealed its high lithium content and confirmed it to be lepidolite. The host rock for the mica was not observable due to the trenches having collapsed. The diggings were limited to the base and on the southeast part of a low hill. Where exposed this hill comprised deeply weathered and altered carbonate rich rocks, samples of which reported elevated Li2O. These rocks likely represent a carbonate rich intrusion into the largely exposed surrounding granite terrain. Satellite imagery shows that the carbonate rock outcrop represented by the low hill may be part of a much larger geomorphic feature some 200m in diameter. Announcement • Aug 31
QX Resources Limited Completes Phase Two Trenching Program At Red Dog QX Resources Limited provided an update on the phase two trenching program at the Big Red and Red Dog prospects (EPM17703). The initiation of phase two trenching followed the Company's decision to expand the Big Red and Red Dog program after intersecting multiple high-grade gold mineralisation from its maiden 370-metre trenching program. Due to unseasonable adverse weather conditions, the recently completed phase two program was suspended until the end of the wet season after only completing an initial 40m of trenching in late 2021. Previous results include: PHASE 1 TRENCHING HIGHLIGHTS: Base of Trench (Hard rock): Trench 1 - 9m @ 5.9 g/t Au plus 1m @ 8.2 with the mineralised zone 35m wide; Trench 2- 3m @ 2.2 g/t Au with a mineralised zone over 1 g/t of 13m; Trench 3 - 3m @ 2.6 g/t Au with a mineralised zone over 1.5 g/t of 5.5m; Trench 4 - 2m @ 23 g/t Au with a mineralised zone over 7.1 g/t over 6.8 m; Interpreted strike length over Big Red as of 31 August 2022 is 232m; The mineralisation is open to the South West and to the North East; The mineralisation is open at depth; The mineralisation may also further extend to the west. Sub Surface (loose pebbles - lag): Trench 1 - 80m @1.23 g/t Au; Trench 2 - 28m @ 1.76 g/t Au; Trench 3 - 9m @ 3.06 g/t Au; Trench 4 32m @ 1.70 g/t Au. PHASE 2 SUSPENDED TRENCHING HIGHLIGHTS: 1m @ 11.25 g/t Au within 11m @1.88 (22m to 31m along trench); 3m @ 2.0 g/t Au within 8m @1.27g/t (3m to 11m along trench) including 3m @2.02 and 1m @2.9 g/t. The recently completed program added ten additional trenches (for combined length of 860m) to the two previous programs. Trenches of up to 2m deep were excavated with the aim to further the strike of gold mineralisation across the prospects. Based on the findings to date the geological team have decided to plan and commence an extensive reverse circulation drilling campaign across the prospects as a follow up program. Announcement • Jul 09
QX Resources Limited Announces That E45/6065 Has Been Granted for an Initial 5-Year Term QX Resources Limited announced that E45/6065, which forms part of the Turner River Lithium project, has been granted for an initial 5-year term. The Turner River project is located within the Pilbara lithium province, Western Australia. As announced on 30 June 2022, the Company recently received assay results from reconnaissance rock chip sampling at the Turner River project, which included up to 4.90% Li2O, highlighting the potential of the project. With the granting of E45/6065, the Company is eager to get back onto the ground at Turner River to follow-up on previous sampling programs, and also to undertake a reconnaissance sampling program across high-priority areas identified through a detailed interpretation of remote satellite imagery and geophysical datasets, which had identified numerous priority areas across QXR's project suite at Turner River. QX Resources now has four granted tenements of the six that make up the Company's Pilbara lithium project portfolio. Announcement • Jul 01
Qx Resources Limited Announces Assay Results from A Reconnaissance Rock Chip Sampling Program Undertaken At Its Turner River Lithium Project Located Within the Pilbara Lithium Province, Western Australia QX Resources Limited announced assay results from a reconnaissance rock chip sampling program undertaken at its Turner River Lithium project located within the Pilbara lithium province, Western Australia. Turner River: The sampling program followed from a detailed interpretation of remote satellite imagery and geophysical datasets, which had identified numerous priority areas across QXR's project suite at Turner River, Western Shaw and Split Rock. At Turner River, the review of the remote sensing data suggested four preferred areas for follow-up investigation and sampling programs. The field program aimed to investigate the spatial extent of this previously identified pegmatite dyke swarm, both laterally and along strike, and to undertake systematic sampling to test the mineralogical variability of the pegmatites and their potential to host lithium bearing minerals. Principal responses were along the central north to north-east trending structural zone, with the central two zones running parallel to the strike of the Wodgina lithium mine. The observation of strong grade results from the rock chip sampling survey conducted at those sites, including one sample at 4.9% Li2O, offers a promising indication of further lithium mineralisation at Turner River. Recent developments at the site also validate QXR's decision to acquire the Exploration Licence for Turner River in September last year, capitalising on the opportunity to secure a highly prospective asset in a globally significant lithium province. Looking ahead, additional mapping and sampling will be undertaken in the other priority areas aimed at identifying additional pegmatite dykes or dyke swarms at Turner River. Both tin and tantalum occurrences have been historically reported within the tenements. Sample Results: Small samples (<1kg each) were collected from the weathered exposures across a number of pegmatite dykes. Minanalytical Laboratories in Perth undertook geochemical analysis of the samples for a suite of elements normally associated with pegmatite dykes. The most significant lithium responses reported to samples TR010, 011 and 012 which were taken from a reported tin prospect in the north-eastern part of tenement E45/6042. The site had evidence of shallow trenching and with micaceous clumps common on the waste piles. The analysis of this mica revealed its high lithium content and confirmed it to be lepidolite. The source for the mica was not observable due to the trenches having collapsed. The diggings were limited to the base and on the southeast part of a low hill. Where exposed this hill comprised deeply weathered and altered carbonate rich rocks, samples of which reported elevated Li2O. These rocks likely represent a carbonate rich intrusion with respect to the largely exposed surrounding granite terrain. However due to the limited suite of elements selected for analyses the nature of the rocks remain enigmatic. Satellite imagery shows that the carbonate rock outcrop represented by the low hill may be part of a much larger geomorphic feature some 200m in diameter The limited sampling in this area was reconnaissance in nature aimed at assessing the prospectivity for lithium bearing rocks. The samples will be rerun through the laboratory using a much broader suite of elements, and including the REE's, Ta and other elements of potential interest. Announcement • Jun 23
QX Resources Limited Announces Recommencement of Phase Two Trenching Program At Red Dog QX Resources Limited reported that it has recommenced an expanded phase two trenching program at the Big Red gold prospect Queensland, after the previous program was halted due to inclement weather. The recommencement marks an important step forward for the Company, following its decision to expand exploration after a successful maiden 370-metre trenching program which recorded multiple intersections of high-grade gold mineralisation including: Trench 1 - 9m @ 5.9 g/t Au plus 1m @ 8.2 g/t Au with the mineralised zone 35m wide; Trench 2- 3m @ 2.2 g/t Au within a mineralised zone over 1 g/t Au of 13m; Trench 3 - 3m @ 2.6 g/t Au within a mineralised zone over 1.5 g/t Au of 5.5m; and Trench 4 - 2m @ 23 g/t Au within a mineralised zone over 7.1 g/t Au over 6.8 m. The initial phase two program was only able to complete 40-60m of trenching before being forced to halt due to torrential rain. Despite that, QXR was still able to confirm that the initial phase two trench hosts similar lithology to the maiden trench program, including the presence of extensive quartz veining. The recommencement of this program will include 8 to 10 trenches across the Big Red and Red Dog anomalies (EPM17703), up to 200m in length and down to 2m in depth and is expected to commence in two weeks. Prior to the program being abandoned, assay results reported included: 1m @ 11.25g/t Au within 11m @1.88g/t (from 22m to 31m along trench); and 3m @ 2.0g/t Au within 8m @1.27g/t (from 3m to 11m) including 3m @ 2.02g/t and 1m @2.9 g/t. The location of the first trench in the phase two program also indicates the potential for a parallel line of mineralisation at the Red Dog prospect. Upon completion of the phase two trenching program, QXR plans to commence a reverse circulation (RC) drill program on key targets, which is scheduled for the second half of 2022. As well as this trenching program in the Drummond Basin, QXR confirms that a number of sampling programs have been undertaken across the Pilbara leases and a comprehensive update will be provided in the near term. Further exploration of these leases is a priority for the Company. Announcement • Apr 12
QX Resources Limited Announces First Phase of Exploration Underway At Pilbara Lithium Projects QX Resources Limited advised that rock chip and soil sampling programs are underway at the Company's Turner River and Western Shaw Lithium projects located within the Pilbara lithium province, Western Australia. The sampling program follows from a detailed interpretation of remote satellite imagery and geophysical datasets which had identified numerous priority areas at Turner River, Western Shaw and Split Rock. The program will comprise field reconnaissance and mapping aimed at identifying pegmatite dykes with associated soil and rock chip sampling within the priority prospective areas identified at Turner River and Western Shaw. It is anticipated that the first phase of sampling will be completed in the next six days with assays to be submitted thereafter. A more extensive, two-week program is scheduled at the end of April with further samples to be submitted for assaying. Based on results, QX will then seek heritage clearance and approval for program of works for drilling. As reported on 11 March 2021, the Company secured a $2.85 million investment from new cornerstone investor Suzhou TA&A Ultra Clean Technology Co., Ltd, ("Suzhou TA&A") with funds to be deployed primarily to advance the development of QX Resources' portfolio of exploration assets in the Pilbara lithium province. The first twosampling programs represent the first phase of exploration with more extensive works to be undertaken when assays are received. At Turner River, the review of the remote sensing data suggests 4 preferred areas for follow-up investigation and sampling programs. Principal responses were along the central north-north east trending structural zone, with the central 2 zones parallel the strike of the Wodgina lithium mine (Figure 1). Previous reconnaissance in the central zone confirmed the presence of shallow dipping pegmatite dykes (Refer to ASX Announcement 21 October 2021). The current field program aims to investigate the spatial extent of this previously identified pegmatite dyke swarm both laterally and along strike as well as undertaking systematic sampling to test the mineralogical variability of the pegmatites and their potential to host lithium bearing minerals. In addition,mapping and sampling will be undertaken in the other priority areas aimed at identifying additional pegmatite dykes or dyke swarms. Both tin and tantalum occurrences have been historically reported within the tenements. The Western Shaw project area comprises a well-developed greenstone belt which appears to relate to a chert horizon within a mafic/ultramafic sequence and some felsic units present within the sequence; The belt isbounded on the east by multiple phases of granite. Of particular significance is the Coordina tin and tantalite prospects located barely 10 km to the east of the project tenements, and which are hosted by the Callina Felsic Intrusion. These felsic intrusions and associated granites are considered potentially prospective for lithium bearing pegmatites and are being targeted during the current exploration program. Field work will consist of reconnaissance mapping and rock chip sampling. Announcement • Apr 01
QX Resources Limited (ASX:QXR) entered into a sale and purchase agreement to acquire Yule River Lithium Project E45/6159 for AUD 1 million. QX Resources Limited (ASX:QXR) entered into a sale and purchase agreement to acquire Yule River Lithium Project E45/6159 for AUD 1 million on March 31, 2022. The consideration will be paid for the acquisition is AUD 60,000 cash and the issue of 16,000,000 QXR shares to Redstone. This project complements QXR’s existing portfolio of lithium-focused projects in the Pilbara lithium region and takes the total area of granted tenements and applications to more than 355km. The SPA contains representations and warranties which are customary for a transaction of this nature. The transaction is expected to completed by April 8, 2022. Announcement • Feb 28
QX Resources Limited announced that it expects to receive AUD 2.85 million in funding from Suzhou TA&A Ultra Clean Technology Co.,LTD. QX Resources Limited announced that it has received firm commitment in a private placement to issue 75,000,000 shares at issue price of AUD 0.038 per share for gross proceeds of AUD 2,850,000? on February 27, 2022. The transaction will include participation from new investor, Suzhou TA&A Ultra Clean Technology Co.,LTD. The transaction is expected to close on March 11, 2022. Announcement • Feb 16
QX Resources Limited Provides an Update on Big Red and Red Dog Prospects QX Resources Limited advised that following the commencement of its phase two trenching program at the Big Red and Red Dog prospects (EPM17703), assay results have confirmed further high-grade gold mineralisation. The initiation of phase two trenching followed the Company's decision to expand the Big Red and Red Dog program after intersecting multiple high-grade gold mineralisation from its maiden 370-metre trenching program. Due to unseasonable adverse weather conditions, the phase two program has been suspended until the end of the wet season after only completing an initial 40m of trenching. Despite the interruption, QX Resources has confirmed that the first trench hosts similar lithology to the maiden trench program, including quartz veining. Assay results have since verified that grades show the Red Dog prospect hosts gold mineralisation to the west of the main structure, with intersections including: 1m @ 11.25g/t Au within 11m @1.88g/t (from 22m to 31m along trench); 3m @ 2.0g/t Au within 8m @1.27g/t (from 3m to 11m) including 3m @ 2.02g/t and 1m @2.9 g/t. The location of the first trench indicates the potential for a parallel line of mineralisation at the Red Dog prospect. The trench was excavated within the known Au in soil anomaly halo, with the location of the trench providing the possibility for the discovery of a new reef running parallel to the established reef. Once the program has recommenced, an additional ten trenches will be excavated to further establish and explore mineralisation across the project. Based on the findings of the geological team, the program could be expanded again prior to the commencement of an extensive reverse circulation drilling campaign at Red Dog. Announcement • Feb 10
QX Resources Limited Expands its Pilbara Lithium Portfolio QX Resources Limited advised that it has significantly expanded its exploration portfolio in the Pilbara lithium province of Western Australia. The two projects (E46/1367 and E45/6107) complement and strengthen the Company's existing portfolio of quality lithium- focused projects, adding a further 51km2 of tenure. The project covers an area of 35km2 approximately 200km southeast of Port Hedland and 180km north of Newman. It is located along the southeast margin of the Split-Rock Supersuite, which is considered regionally prospective for lithium bearing pegmatites. Strategically located close to existing infrastructure, the project is only 60km from Nulagine with easy access via established road networks. The Split Rock project is bordered to the south by Thor Mining Plc's (ASX: THR) Ragged Range project, which is focussed on the Mondana Monzogranite which forms part of the Split-Rock Supersuite. On 27 January 2022 THR reported a number of targets prospective for lithium within their tenement area, having reported elevated levels of tin, beryllium and tantalum, which are pathfinder elements commonly found in association with lithium bearing pegmatites. The Split Rock project has a 10km strike length of the Mondana Monzogranite which is a continuation of the same batholith margin targeted by THR for lithium bearing pegmatites. The exposure to the margins of the Split- Rock Supersuite enhances the potential prospectivity of the tenement to host significant lithium bearing pegmatites. Exploration license application E45/6107 adjoins the Company's Western Shaw project (E45/4960) which was acquired early this year (refer ASX announcement: 17 January 2022). An aerial reconnaissance of E45/6107 confirmed the presence of pegmatitic type dykes and pegmatitic granite in the eastern portion of the tenement (refer images 3 & 4). With the acquisition of E45/6107, the Western Shaw project now covers a total area of 96km2. Geologically, Western Shaw is in a region dominated by `nested' granite plutons, many of which are known to host lithium bearing pegmatite dykes and associated tin, tantalum and lithium mineralisation. The project also contains a further mix of geological terrain which includes porphyritic monzogranite, banded iron formations, nickel and gold. Announcement • Feb 01
QX Resources Limited Reports Encouraging Rock Chip Geochemical Results Amongst Several Samples Taken During the Initial Reconnaissance Field Inspection on the Turner River Lithium Project QX Resources Limited reported encouraging rock chip geochemical results amongst several samples taken during the initial reconnaissance field inspection on the Turner River lithium project (EL 45/6042 and EL 45/6065). This lithium focused project is in the Pilbara region of Western Australia ~120km south of Port Hedland and ~17km south of the significant lithium deposit at Wodgina (259.2Mt at 1.17% Li). During the initial reconnaissance site visit several parallel east dipping (<200) pegmatite dykes were observed within a 250m wide NE trending zone. The pegmatites are <1m thick and comprised quartz, feldspar, and coarse-grained muscovite mica in varying relative abundances and could be traced intermittently over 500 metres. Several narrow cross-cutting pegmatites were also observed. Spatially associated with this zone are intermittent quartz reefs. Interpretation of Results: Of particular significance is the elevated Li, Cerium (Ce) and Lanthanum (La) elements and the associated strong responses in Barium (Ba) and Phosphorus (P) which have reported to sample TR003. The background for Li, Ce, La and P based on the results for samples TR001, TR002 and TR004 is 71ppm, 30ppm, <20ppm and 134ppm respectively indicating that these elements in sample TROO3 are significantly above background. The highly elevated occurrence of phosphorus in a pegmatite may infer the presence of phosphorus-based minerals particularly as both the Rare Earth elements (Ce and La) and Li can occur as phosphorus-based minerals. Sample TR003 was taken from the most easterly of the pegmatite dykes that was identified and sampled and is evidence that this dyke is mineralogically different to the others that were sampled. However, as none of the dykes were exhaustively or systematically sampled the representativeness of the analyses remains speculative. Nevertheless, the company is encouraged by this early promising result presented by sample TR003, especially in light of the limited nature of the work that has been completed to date. The company believes that further detailed work is warranted to follow-up on this dyke system and to find others that are likely to be present. Announcement • Jan 18
QX Resources Limited (ASX:QXR) exercised the option agreement to acquire Western Shaw lithium project (E45/4960) from Redstone Metals Pty Ltd for AUD 2.06 million. QX Resources Limited (ASX:QXR) exercised the option agreement to acquire Western Shaw lithium project (E45/4960) from Redstone Metals Pty Ltd. for AUD 2.06 million on January 17, 2022. AUD 0.1 million in cash consideration has been paid to Redstone, with the issue of 40 million fully paid ordinary shares to the vendors being subject to shareholder approval at a meeting to be convened in late February. Announcement • Dec 23
QX Resources Limited Reports the Queensland Department of Resources Now Granted the company an Exploration Licence QX Resources Limited reported that the Queensland Department of Resources (DoR) has now granted the Company an Exploration Licence (EL) over the 232km Llanarth tenement (EL 27791) located in the Drummond Basin which is prospective for gold and silver mineralisation. QXR first applied for an Exploration Permit for Minerals (EPM) in January of this year over Llanarth to expand its footprint in the Basin where it now holds 347km of ELs and EPMs. Now that the EL is granted, QXR will formulate an exploration plan for Llanarth for current year 2022. As reported in early February 2021, the exploration model to be applied to the Llanarth Project is principally for epithermal-style gold-silver mineralisation. QX Resources already has a significant and established presence in the area and is actively exploring within the region for epithermal-style gold-silver mineralisation. Western Mining Ltd. had previously pegged a number of mining leases within the Llanarth tenement area while exploring the Yandan deposit to the east in the 1980s. Announcement • Oct 01
QX Resources Limited Announces Red Dog and Lucky Break Trenching Program Complete QX Resources Limited report the completion of the successful trenching program at the Disney tenement incorporating the Big Red and Red Dog prospects located in the Clermont Goldfield of Central Queensland. As previously reported, infill soil and rock chip sampling of over 250 samples on the Big Red area showed a clear gold anomaly over a 675m mineralized trend southwest across the Red Dog anomaly. QX completed seven trenches averaging 53m in length and 1 to 2m in depth at Big Red and Red Dog. The pending results from the trenching will then determine the design of a shallow RC drilling program. The work was completed in this month with all trenches filled and fully rehabilitated in line with the Landholder Agreements. Board Change • Jul 31
High number of new directors Additional Non-Executive Director Roger Jackson was the last director to join the board, commencing their role in 2020. Announcement • Jul 15
QX Resources Limited Announces the Completion and Assay of the 1,512M Stage 1 RC Drill Program At the Lucky Break Prospect on EPM 14790 (Mazeppa) in the Clermont Gold Project QX Resources Limited announced the completion and assay of the 1,512m stage 1 RC drill program at the Lucky Break Prospect on EPM 14790 (Mazeppa) in the Clermont Gold Project. Lucky Break was mined by East-West Minerals NL from 1987 to 1988 for 90Kt at a head grade of 2.4 g/t Au in oxide only (15 to 20 vertical metres) for 283m of its 560m known strike length. Stage 1 drilling was targeted based on QX's wireframe modelling of gold mineralised lodes to investigate strike and depth extension, test mineralisation in areas where historic drilling had incomplete assaying, and probe for infill on mineralisation to support modelling. The results have shown strong mineralisation extending along strike 70m northeast of the existing pit crest and shallow mineralisation at good grades to the south of the existing pit and in situ at shallow depth bellow the south pit, which appears mainly to have taken mineralised positive topographic features and extended for only around 2.5m vertical depth in areas drilled during this program. Based on these very encouraging results which include excellent high-grade intercepts, follow up drilling is planned to more thoroughly assess the extensions to the mineralisation encountered along strike from the historical pit. QX already has permits to continue drilling at Lucky Break and plans to secure a rig shortly while it determines locations and the extent of the next phase of drilling. In the interim, QX's technical team is now assessing drill samples from the recent program to test for coarse gold effect (relatively even distribution of coarse grains that can be missed by standard assay techniques, and nugget effect (relatively uneven metal distribution)), initially by screen fire assay repeats. The Mazeppa tenement (EPM 14790) within the Thompson Orogen is dominated by slates, phyllites and schists of the Anakie Metamorphics which unconformably bound the Drummond Basin sequence. The Lucky Break area is one of the few locally where the Anakie Metamorphics are exposed through Tertiary to Quaternary colluvium and flanking Drummond Basin Sequence sediments. Gold mineralisation in the Clermont Goldfield is largely related to intrusives into the Drummond basin and its structural margins with the Anakie Metamorphics. The tenement is prospective for: Mesothermal vein gold e.g. Lucky Break and Byjingo, 100 kilometres N of Clermont. Porphyry-related vein and stockwork e.g. Dead Horse Bore, 90 kilometres N of Clermont. Epithermal lode gold silver e.g. Twin Hills and Lone Sister, 125 kilometres N of Clermont. Sediment-hosted gold e.g. Miclere, 25 kilometres N of Clermont. Volcanogenic base metals ± gold e.g. Covah, Sally Ann 65 kilometres NE of Clermont. Hydrothermal-related gold and base metals e.g. Retro Prospect, 30 kilometres SE of Clermont. Lucky Break is a shear hosted lode gold style of mineralisation that has previously been classified as mesothermal but is probably better characterised as a distal Thermal Aureole Gold deposit. Announcement • May 06
QX Resources Limited Announces Drilling Completed At Lucky Break Gold Mine QX Resources Limited announced the completion of the 1,500m reverse circulation (RC) drill program undertaken at the Company's Lucky Break gold mine located at the Clermont Goldfields in the Drummond Basin of central Queensland. This first pass drill program which was designed to assess mineralisation in two historical pits - the main Lucky Break Mine and the small Lucky Break South pit which was previously mined as a small high-grade deposit - has now been completed with the drill rig being demobilized from site. The mineral samples from the program have been sent to ALS Townsville for multi-element assaying, with results expected in 4 to 6 weeks. QXR is continuing further assessments of follow up exploration opportunities at Lucky Break and surrounding areas, as well as other potential tenements which look prospective for gold and a range of other commodities. Announcement • Feb 10
QX Resources Limited to Commence Drill Program At Lucky Break Gold Mine QX Resources Limited announced that recovery and thorough analysis by the company’s s technical team of historic drilling data on the 560m Lucky Break gold strike, mined by East-West Minerals NL from 1987 to 1988 for 90Kt at a head grade of 2.4 g/t Au in oxide only (15 to 20 vertical metres). Subsequent drill data based wireframe modelling of gold mineralised lodes has confirmed the prospectivity of the Lucky Break deposit at depth, whilst in correlation with potassium radiometric data, provided high quality exploration targeting for a potential 285m strike length extension. As a result, the company intends to commence a 2,000 meter RC drill program next month, subject to satisfactory weather, to test the Lucky Break Mine anomaly and its structural trend as well as high priority infill, depth extension and twin studies. Lucky Break lies adjacent to the Gregory Highway on EPM 14790 (Mazeppa) in the Clermont Goldfield of central Queensland. The Mazeppa tenement (EPM 14790) within the Thompson Orogen is dominated by slates, phyllites and schists of the Anakie Metamorphics which unconformably bound the Drummond Basin sequence. The Lucky Break area is one of the few locally where the Anakie Metamorphics are exposed through Tertiary to Quaternary colluvium and flanking Drummond Basin Sequence sediments. Gold mineralisation in the Clermont Goldfield is largely related to intrusives into the Drummond basin and its structural margins with the Anakie Metamorphics. The tenement is prospective for: Mesothermal vein gold e.g. Lucky Break and Byjingo, 100 kilometers N of Clermont; Porphyry-related vein and stockwork e.g. Dead Horse Bore, 90 kilometres N of Clermont; Epithermal lode gold silver e.g. Twin Hills and Lone Sister, 125 kilometers N of Clermont; Sediment-hosted gold e.g. Miclere, 25 kilometers N of Clermont; Volcanogenic base metals ± gold e.g. Covah, Sally Ann 65 kilometers NE of Clermont; Hydrothermal-related gold and base metals e.g. Retro Prospect, 30 kilometers SE of Clermont. This data was used to inform cross sectional interpretations of the Lucky Break drilling. Sectional lode interpretations were constructed at a cut-off grade of 0.3 g/t Au except where required for continuity, in line with log probability and log histogram statistical population breaks informed by metal commerciality. Sections excluded internal waste intervals of greater than 1m and all sections were snapped to drillholes. With the exception of the targeting lode no extrapolation past 50% drill spacing was made except where supported by data on adjacent sections which triangulated on the individual lode strike. Lodes sections were subsequently interpreted and triangulated using Datamine Studio RM to construct a solid wireframe model encompassing 30 valid lodes plus the southern targeting lode and one small lode informed only by RAB drilling. Based on strike, dip and plunge, which vary around the arcuate mineralised zone, these lodes are grouped into four domains, still to be validated variographically. The valid lodes, cut to NASA radar topography and the East-West Minerals pit rehabilitation surface, enclose a volume of 193,500 bank cubic meters of modelled mineralisation and, based on 724.5m of enclosed assay, encompass a length weighted average grade of 2.12 g/t Au and 1.05 g/t Ag. Though this does not constitute a valid estimation or a statement of resource, it does give an evaluation with which to inform the value of further exploration. This is bolstered by over 85% of volume lying above 70 vertical meters depth and thus indicative that further work on the project will likely yield a resource that may be viable in the near term. Announcement • Oct 10
QX Resources Limited Announces Commencement of Queensland Exploration Program QX Resources Limited announced that it has commenced detailed infill soil sampling over areas within the highly prospective exploration tenements of Disney and Belyando. The Company's technical team which has considerable exploration experience in Queensland's Drummond Basin, have been reviewing historical drill results and previous soil sampling reports to define a number of new highly prospective targets. The soil sampling program is anticipated to take approximately a week to complete with final multi-element laboratory assay results available by late October. A reverse circulation (RC) drill program will be undertaken following interpretation of the soil samples with the results determining the final scope of the drill program. The soil sampling program is being undertaken to confirm the previously defined gold (Au) and arsenic (As) anomalies at the Ibis prospect and the Au anomaly at Big Red to the SW of the previously drilled prospect and better define the extent of the anomalies. Sampling will mirror the previous methodology (-1mm B horizon) but on nominal 50m infill. The program will comprise approximately 300 samples with additional sampling of mineralized float /sub-crop areas identified. The Big Red prospect was discovered by BMA Gold Ltd. (BMA) during reconnaissance traversing. BMA are said to have identified a N-NE- trending zone of hydrothermal breccia/vein float and sub crop on a subdued rise of red brown granitic soils. The quartz vein/breccia apparently exhibited multiple phases including open space, comb, cockade and crystalline textures hosted by a silicified hornblende granite. BMA carried out some shallow costeaning of the vein system which returned anomalous values between 0.28g/t and 0.92g/t Au from quartz veins in a weakly mineralised 4m wide alteration zone with sporadic sub crops of quartz veins protruding through the soil for 200 metres along strike. Three RCP holes were drilled by BMA in 2005 (black triangles) at - 60° to 285° to test the zone to 120m vertical depth. All holes intersected a quartz-veined zone. Gold-anomalous intervals typically occurred within or adjacent to the main quartz vein zone within 5-15% by volume of crustiform-comb textured milky quartz +/- pyrite veinlets. 