– 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, positioned 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 ends in 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 ends in 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. Operating sands, beneficial for brine aquifers, had been intersected at these similar ranges. Elevated salinity suggests a beneficial zone from 210m to 270m.
High quality 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 outlet. The geology intersected mirrored the anticipated goal sequence as its comparable in profile to the manufacturing sequences of Albemarle’s close by Silver Peak lithium brine producer in Clayton Valley USA.
The second gap can 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 can 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, stated: “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 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 sort of particular, utilizing a packer sampler to take samples over particular person aquifers from 3m to 10m thick. Bulk samples can be despatched for direct lithium extraction testwork as soon as collected.
It is taking just a little longer than anticipated to get assays and interpret these outcomes as a result of end-of-year points however It is a fantastic begin to this massive goal Liberty Lithium venture.”
Packer sampling, utilizing “straddle” packers, are being utilised to pattern particular aquifers downhole. Throughout the open drillhole, beneath the drill bit head, rubber stoppers are inflated both aspect of the precise 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. High quality grained sediments, gravels and coarse alluvial fan materials had been intersected down the size of the outlet.
Drillhole 2 is positioned 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 in depth 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, positioned in SaltFire Flat, in California, USA (refer ASX announcement dated 5 October 2023). The Challenge is likely one of the largest single lithium brine initiatives 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:
About QX Assets Ltd:
QX Assets Restricted (ASX:QXR) is targeted on exploration and growth of battery minerals, with onerous rock lithium belongings in a primary location of Western Australia (WA), and gold belongings in Queensland. The goal is to attach finish customers (battery, cathode and automobile makers) with QXR, an skilled explorer/developer of battery minerals, with an increasing mineral exploration venture portfolio and stable 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 initiatives by means of 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 bundle (each granted or below utility) now spans greater than 350 km2.
Gold portfolio: QXR can be growing two Central Queensland gold initiatives – Fortunate Break and Belyando – by means of an earn-in settlement with Zamia Assets Pty Ltd. Each gold initiatives are strategically positioned throughout the Drummond Basin, a area that has a >6.5moz gold endowment.