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QX Resources Limited (ASX:QXR)

ALERT: Price-sensitive ASX Announcement for QXR
Current share price for QXR : $0.003 -0.001 (-25%)+
Announcement
Release
19 Aug 2026 8:53AM
Price at Release
$0.004
Full Release
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Summary
QX Resources Limited has announced the delivery of a significant JORC Code (2012) compliant Exploration Target at its 100% owned Madaba Uranium Project in Tanzania. The target, prepared by The MSA Group under the supervision of Mr. George van der Walt, foresees an estimated 20-30 Mt grading 400-500 ppm eU₃O₈, containing approximately 18-33 Mlbs of eU₃O₈. This assessment is based on historical data and exploration conducted by UEB between 1979 and 1982, now digitized and modeled in 3D for further drilling. The company is preparing for a maiden drilling program in H2 2026, aiming to convert a portion of this exploration target into a maiden JORC Mineral Resource Estimate. The project is situated in a region sharing geological characteristics with the Nyota Uranium Deposit, indicating potential for similar mineralization styles and open-pit development pathways.
Key Points
  • Nine priority, drill-ready targets defined from historical data and 3D modeling.
  • Maiden drilling program planned for H2 2026 to establish a maiden JORC Mineral Resource Estimate.
  • The Madaba Project shares geological characteristics with the Nyota Uranium Deposit.
  • The Exploration Target estimates 20–30 Mt grading 400–500 ppm eU3O8.
  • Potential for open-pit development due to shallow mineralization and infrastructure access.
  • Historical data was digitized and independently reviewed for accuracy.
  • Madaba Project covers 613km² with three exploration licenses in southern Tanzania.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.