February 23, 2023
Newly listed mineral exploration company SQX Resources Ltd has announced plans to explore potential copper and gold deposits north-east of Nanango.
In a statement to the ASX on Monday, SQX said it had raised $5 million through its Initial Public Offer (IPO) to fund the exploration activities.
SQX holds EPM 27257 which consists of the Scrub Paddock Prospect and the Ollenburgs Prospect, both 37km north-east of Nanango.
Drilling at the Scrub Paddock site, which includes about 20 historic mine workings, is expected to start in March.
Soil sampling will also begin at the Ollenburgs site – which includes former copper, gold and silver mine workings – to determine potential drilling targets.
The SQX statement said previous shallow drilling had identified a number of higher-grade gold zones within broad lower grade intervals.
“Existing soil and rock-chip sampling, in conjunction with historical mine workings, suggest mineralisation may extend across an approximate 2km strike,” the statement said.
SQX chair Bryan Granzien described the gold-copper porphyry deposits as “exciting”.
