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QX Resources Ltd ( (AU:QXR) ) has issued an update.
QX Resources has secured full tenure over its 100%-owned Madaba Uranium Project in southern Tanzania, after the grant of two remaining exploration licences by the Tanzanian authorities. The company has also completed a A$1.23 million capital raising to fund an intensive 2026 work program, including a high-resolution heli-borne radiometric survey and a maiden drilling campaign.
Reinterpretation of historical data has confirmed high-grade, near-surface supergene uranium across multiple prospects at Madaba, with standout trench results and nine drill-ready targets identified. These developments significantly de-risk the project, support comparisons with the nearby Nyota deposit, and mark the start of the most active exploration phase in Madaba’s history, including work toward a maiden JORC resource estimate.
More about QX Resources Ltd
QX Resources Limited is an ASX-listed exploration company focused on uranium, with its flagship Madaba Uranium Project located in southern Tanzania. The project spans 613 square kilometres and targets Karoo Supergroup fluvial sandstone-hosted mineralisation, analogous to the nearby world-class Nyota uranium deposit, positioning QX Resources as an emerging player in African uranium exploration.
Technical Sentiment Signal: Sell
Current Market Cap: A$9.71M
See more insights into QXR stock on TipRanks’ Stock Analysis page.