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SQX Resources Limited ( (AU:SQX) ) has shared an announcement.
SQX Resources has secured final drilling permits from the US Bureau of Land Management for its Red Bird Gold Project in Arizona, enabling immediate commencement of road and drill pad construction and a maiden 2,500-metre reverse circulation drilling program this month. Partnering with contractor Midnight Sun Drilling, AM6 will test known high-grade gold structures and probe for extensions at depth and along strike, supported by recent structural mapping that identified visible coarse gold and LIDAR surveys of underground workings. These rapid, concurrent drilling and systematic sampling programs are aimed at accelerating definition of a maiden JORC resource and advancing SQX’s strategy to outline a potentially large-scale, open-pit bulk-tonnage gold deposit, marking a shift from project evaluation to active discovery with the prospect of sustained news flow for investors.
The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on SQX Resources Limited stock, see the AU:SQX Stock Forecast page.
More about SQX Resources Limited
SQX Resources Limited is an ASX-listed mineral exploration company with an 80% interest in AM6, which is advancing the Red Bird Gold Project in Arizona, USA. The company is focused on discovering and defining large-scale, bulk-tonnage gold systems in one of the world’s most prolific mining jurisdictions, targeting both high-grade structures and potentially open-pit bulk mineralisation.
Average Trading Volume: 390,523
Technical Sentiment Signal: Buy
Current Market Cap: A$7.18M
Learn more about SQX stock on TipRanks’ Stock Analysis page.