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SQX Resources Limited (ASX:SQX)

ALERT: Price-sensitive ASX Announcement for SQX
Current share price for SQX : $0.055 -0.125 (-69.44%)+
Announcement
Release
3 Feb 2026 8:17AM
Price at Release
$0.180
Full Release
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Summary
SQX Resources Limited has announced the commencement of a maiden 2,500-meter Reverse Circulation (RC) drilling program at the Red Bird Gold Project in Arizona, USA. The program, executed by Midnight Sun Drilling Inc. using a specialized track-mounted RC MPP Grasshopper Rig, aims to test near-surface gold mineralization and extensional targets down-dip and along strike. The drilling program targets high-priority areas identified through historical data and recent sampling, including high-grade gold structures with assays up to 49.2 g/t Au. The drilling is expected to conclude by late February 2026, with assay results anticipated in four to six weeks. This marks a significant step for SQX as it seeks to define a maiden JORC resource.
Key Points
  • Maiden 2,500m RC drilling program at Red Bird Gold Project in Arizona has commenced.
  • Program aims to test near-surface gold mineralization and extensional targets.
  • Midnight Sun Drilling Inc. is using a track-mounted RC MPP Grasshopper Rig for the program.
  • Drilling targets high-priority areas validated by recent sampling and historical data.
  • High-grade gold assays up to 49.2 g/t Au have been recorded.
  • Completion expected by late February 2026, with assay results in four to six weeks.
  • Significant step towards defining a maiden JORC resource.
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.