QX Resources share jumps on Vuostok Nickel-Copper project update

Key Highlights

• Near-surface massive sulphide mineralization found in diamond drillholes at Bayrock's Vuostok Nickel-Copper Project in northern Sweden
• 17 holes drilled (508m) at Storbodsund Prospect in Vuostok project, nickel-copper, assay results in August
• Results indicate district-scale potential for Nickel-Copper+/-Cobalt projects, close to Lainejaur high-grade deposit.

Source: Kapitales Research

QX Resources Limited (ASX: QXR) recently announced promising results from diamond drilling at the Storbodsund Prospect within the Vuostok Nickel-Copper Project in Northern Sweden, a project held by Bayrock Resources Limited, in which QXR holds a significant ~39% ownership.

The drilling campaign, consisting of 17 holes totalling 508 meters, focused on the Storbodsund Prospect, a near-surface nickel-copper project. The assay results from the drilling are expected to be available in late August. Notably, the diamond drilling intercepted massive sulfide mineralization in a series of drill holes located less than 18 meters from the surface and under a thin cover of glacial sediments.

The results showed massive, disseminated clusters of sulfides with visible Nickel and Copper minerals within intervals up to 6 meters thick. Previous drilling had already indicated the presence of massive Ni-Cu sulfides, averaging 2.3% Ni and 0.6% Cu (including up to 3.7% Ni), with thicknesses ranging from 0.3 to 3.9 meters.

These findings suggest the potential for a district-scale development of Nickel-Copper+/-Cobalt projects in the area. Vuostok is particularly noteworthy because it is close to 60 kilometers to Bayrock's Lainejaur high-grade Nickel-Copper-Cobalt deposit.

Overall, the successful drilling results at the Storbodsund Prospect and the potential for a district-scale development of Nickel-Copper+/-Cobalt projects in the region bode well for both QX Resources Limited and its investment in Bayrock Resources Limited. As the demand for battery minerals rises in response to the renewable energy revolution, the companies are poised to leverage their strategic positions and contribute to the growing market for sustainable energy solutions.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com