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SQX Resources Limited ( (AU:SQX) ) has provided an update.
SQX Resources has reported strong initial assay results from its maiden reverse circulation drilling campaign at the Red Bird Gold Project in Arizona, confirming a substantial, shallow epithermal gold system. The first eight of 25 drill holes returned broad, near-surface mineralised intervals, including intercepts such as 42.7 metres at 1.4 grams per tonne gold from 4.6 metres, underscoring potential for a bulk-tonnage, open-pit resource.
The 2,509-metre program provides the first modern technical validation of the historical Red Bird mine area, demonstrating vertical gold continuity from surface to at least 60 metres depth. With assays from the remaining 17 holes pending and an induced polarisation geophysical survey planned to test for additional targets at depth and along strike, the results mark a significant step in defining Red Bird’s scale and could enhance SQX’s growth prospects in the U.S. gold exploration sector.
The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.19 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 a mineral exploration company focused on gold projects, with current activity centred on the Red Bird Gold Project in Arizona, USA. The company is advancing modern exploration over a historically mined epithermal gold system, targeting near-surface, bulk-tonnage potential suitable for open-pit development.
Average Trading Volume: 460,598
Technical Sentiment Signal: Buy
Current Market Cap: A$12.11M
See more insights into SQX stock on TipRanks’ Stock Analysis page.