– Drillhole 2 has been accomplished at 443m depth; Brine sampling and geophysics are underway.
– Quite a few brine aquifers* had been intersected between 90m and 295m depth in drillhole 2.
– Each diamond drillholes, situated 4km aside, had been centred over vital geophysical targets in magnetotellurics (MT) that inferred a sequence of conductive brine bearing aquifers.
– Outcomes and interpretations from drillhole 1 are anticipated in mid-February, with drillhole 2 leads to late March.
*Cautionary Assertion: The intersection of brines doesn’t indicate that the brines are lithium bearing. Chemical evaluation from an unbiased laboratory will decide lithium concentrations in a brine.
Brine sampling*and downhole geophysics of the second drill gap is underway. Particular aquifers are being sampled utilizing packer sampling, with intervals decided from the downhole geophysical and geological logs.
Lithium assay outcomes with interpretations are anticipated from drillhole 1 within the coming weeks, with drillhole 2 lithium leads to late March.
The second vertical diamond drill gap has been accomplished at 443.5 metres depth. Quite a few brine aquifers various in width from a number of metres to 10 metres in width had been intersected at 90m, 130m, 210m, 245m, and 295m. Working sands, beneficial for brine aquifers, had been intersected at these identical ranges. Elevated salinity suggests a beneficial zone from 210m to 270m.
Fantastic grained sediments with sandy layers had been widespread from the highest of gap to 205m depth with gravels, conglomerates and coarse alluvial fan materials beneath this to the bottom of the opening. The geology intersected mirrored the anticipated goal sequence as its related in profile to the manufacturing sequences of Albemarle’s close by Silver Peak lithium brine producer in Clayton Valley USA.
The second gap might be cased, with slotted casing in beneficial aquifers to permit for additional sampling and monitoring. Giant brine pattern volumes (>20,000 litres) will then be pumped and saved. Bulk volumes of brine might be submitted for evaluation and testwork with numerous direct lithium extraction (DLE) suppliers (refer ASX announcement dated 25 October 2023).
QXR Managing Director, Stephen Promnitz, mentioned: “Intersecting quite a few brine aquifers within the second gap could be very encouraging. The operating sand horizons and quite a few saline aquifers encountered are precisely the specified geological setting when exploring for brand spanking new lithium brine basins. Moreover, the geology within the second gap is similar to the manufacturing sequences on the close by lithium brine producer of Albemarle.
The sampling undertaken is kind of particular, utilizing a packer sampler to take samples over particular person aquifers from 3m to 10m thick. Bulk samples might be despatched for direct lithium extraction testwork as soon as collected.
It is taking a little bit longer than anticipated to get assays and interpret these outcomes on account of end-of-year points however It is an incredible begin to this massive goal Liberty Lithium challenge.”
Packer Sampling
Packer sampling, utilizing “straddle” packers, are being utilised to pattern particular aquifers downhole. Inside the open drillhole, beneath the drill bit head, rubber stoppers are inflated both facet of the particular aquifer between 3m to 10m, with intervals decided from the resistivity and gamma downhole geophysical log along with the geological log, the place brines had been recognized (see Determine 2*).
Drillholes and Deal Phrases
The primary vertical diamond drill gap was accomplished at 369 metres depth in late December 2023. Goal horizons had been intersected at 49m depth and 329m depth. Fantastic grained sediments, gravels and coarse alluvial fan materials had been intersected down the size of the opening.
Drillhole 2 is situated 4km to the south of drillhole 1 and each are centred over vital MT geophysical targets interpreted as inferring a sequence of conductive brine bearing aquifers at depth. Each holes are positioned inside an intensive lithium brine floor anomaly of over 10km outlined in auger samples (see picture 4 beneath).
QXR has the flexibility to earn a 75% curiosity of the 102km2 Liberty Lithium Brine Challenge, situated in SaltFire Flat, in California, USA (refer ASX announcement dated 5 October 2023). The Challenge is likely one of the largest single lithium brine tasks within the USA (for scale, equal to 2x space of Sydney Harbour). The Challenge’s geological setting mirrors Albemarle’s close by Silver Peak lithium brine producer in Clayton Valley USA.
*To view tables and figures, please go to:
https://abnnewswire.internet/lnk/4461WOH7
About QX Assets Ltd:
QX Assets Restricted (ASX:QXR) is concentrated on exploration and growth of battery minerals, with onerous rock lithium belongings in a main location of Western Australia (WA), and gold belongings in Queensland. The intention is to attach finish customers (battery, cathode and automotive makers) with QXR, an skilled explorer/developer of battery minerals, with an increasing mineral exploration challenge portfolio and strong monetary assist.
Lithium portfolio: QXR’s lithium technique is centred round WA’s prolific Pilbara province, the place it has acquired a controlling curiosity in 4 tasks via focused M&A – all of which sit in strategic proximity to a few of Australia’s largest lithium deposits and mines. Throughout the Pilbara, QXR’s regional lithium tenement package deal (each granted or underneath utility) now spans greater than 350 km2.
Gold portfolio: QXR can be growing two Central Queensland gold tasks – Fortunate Break and Belyando – via an earn-in settlement with Zamia Assets Pty Ltd. Each gold tasks are strategically situated inside the Drummond Basin, a area that has a >6.5moz gold endowment.
