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AUSSIE Q RESOURCES LIMITED

ASX: AQR

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Aussie Q Resources Limited is a mineral exploration company that floated on the Australian Securities Exchange on 14 June 2007 raising AUD$12M. It holds ten highly prospective copper/molybdenum Exploration Permits for Minerals (EPMs) in the Rawbelle district, centred 30 kms to the west of the town of Monto approx. 150 kms by road/rail to the port of Gladstone which offers excellent infrastructure.

These EPMS host prospects for molybdenum and copper with other areas anomalous in gold and zinc. Molybdenum (Mo) is a metallic element used primarily for steel alloying and as a catalyst. It occurs naturally in mineralised rocks in combination with other elements including copper, silver, zinc, tungsten and titanium.

The principal project at Rawbelle is the Greater Whitewash Project. In addition there are 16 satellite prospects with 4 of these joint ventured with SLW Queensland Pty. Ltd. (SLWQ).

Greater Whitewash Project

* JORC compliant mineralized body already identified ~71,500,000t at Whitewash grading 0.034% Molybdenum
* Further infill drilling could be expected to advance the mineralisation to an indicated JORC compliant resource
* Approximately 62,000 metres of drilling completed
* Excellent potential to expand the size and grade of the ore body
* Whitewash mineralization is open to the North, to the South, to the West, to the East and at depth
* Over 1,200 square kilometres under tenure
* In excess of $17M expenditure to date
* Close to all infrastructure i.e. road, rail, power stations, deep water ports with rail link, town, etc.
* Seven high priority, very large advanced, exploration targets offer enormous up-side potential
* Nine Porphyry Copper and Molybdenum prospective areas already identified
* Potential for early commencement of mining

WHITEWASH SOUTH

Whitewash South is situated 500m south of the 71.5 Million Tonne Inferred Resource at Whitewash & Gordons and is one of four features which form a series of topographic knobs in a line stretching 2km to the south of Whitewash that look similar to Gordon’s. AQR is continuing its diamond drill program at Whitewash South with very encouraging results to date with in excess of 80 holes now completed. Mineralisation now extends over 2.5km in strike length with copper grades appearing to increase to the south.

KIWI CARPET

Kiwi Carpet is located approximately 15 kilometres to the North of Whitewash and about 15 km SW of the Cania goldfield where alluvial gold appears to have been derived from the erosion of conglomerate, although steep dipping quartz veins are also described. Vertical drill holes have tested soil anomalies which are now interpreted by AQR personnel to be associated with steep dipping structures and extensive breccia. Sulphides have been identified over a 7 km² area with associated copper anomalies. The Kiwi Carpet porphyry copper area has had 20 drill holes which returned grades of copper similar to Whitewash.

KILDARE PROJECT (Joint Venture with SLWQ)

The Kildare Project contains the Bucket Mountain, Kildare, Trevethan and Bulls Eye prospects. Kildare is located in a separate tenement block approximately 22 km SSW of the Greater Whitewash Project where AQR has defined a 30 km² soil geochemical anomaly in which Mo-Cu and W anomalies have been identified in limited drilling to date. The area is locally obscured by laterite. Recent drilling on the Kildare prospect has intersected a very large porphyry related hydrothermal system, or alternatively, a collection of inter related and overlapping porphyry related hydrothermal systems.

JUICY FRUIT

Juicy Fruit is approximately two kilometres to the North-West of the Greater Whitewash Project and like Whitewash, it has been the subject of an intense geochemical soil sampling program. Juicy Fruit has been the subject of two preliminary drilling programs: A 1970 program of 1 diamond hole (NS2) by the Queensland Mines Department and a 6 Hole 2008 RC program by AQR. Results and mineralisation are similar to Whitewash. Drill hole NS3 was drilled at Juicy Fruit by the Queensland Mines Department near a soil sample that returned 0.12% Cu and 21ppm Mo. This hole returned an intersection, between 21m and 25m, i.e 4 metres @ 0.14% Cu and 0.2% Mo. The AQR drilling at Juicy Fruit has intersected Mo-bearing sheeted quartz veins in all 6 drill holes grading to 10m @ 488 ppm Mo and 0.11% Cu. Hole 08JF005 assayed an aggregate of 25m @ 423 ppm Mo and 0.11% Cu. The highest grade intersection was in Hole 08JF001 which intersected 6 mineralised zones with an aggregate intersection of 15m. The highest individual intersection being 3m @ 0.18% Mo, 0.35% Cu and 4.2g/t Ag.

ANOMALY 7B AND ANOMALY 7B WEST

Anomaly 7B is located on the northern margin of the Auburn Complex 45 kms northwest of the township of Monto. This prospect was identified by geochemical sampling conducted by CRA Exploration in1962. Extensive geochemical soil sampling by AQR has delineated a large area of anomalous copper at 7B and also discovered a previously unknown but contiguous extension of the 7B area. This new area has been termed 7B West. The prospects have been given separate names as the predominant mineral is different. The 7B area is predominately Copper while the 7B West area is predominately Zinc. Kennecott drilled 3 short vertical rotary/core holes, at 7B, for a total of 45m in October 1971 (CR 4080). These holes averaged between 0.1% and 0.2% Copper. Logs recorded the rock type as being: “weakly mineralized, foliated quartz-diorite carrying disseminated fine grained chalcopyrite and rare traces of pyrite”.

NODDY’S CREEK

Noddy’s Creek is situated approximately 6 kilometres north of Whitewash where reconnaissance work has located quartz vein float containing visible chalcopyrite and pyrite which yielded 15g/t Gold, 115g/t Silver, 0.17% Copper, 0.42% Lead, 70 ppm Arsenic and 390 ppm Molybdenum. In addition, altered ferruginous granite assaying up to 0.14% Molybdenum, 0.6% Lead, 0.12% Copper and quartz veins assaying up to 0.71% Lead and 408 ppm Silver were located. Noddy’s Creek has been the subject of 4 drill holes in two drill programs.

BRUMBY GULLY

The Brumby Gully prospect on the eastern side of the area of interest exhibits Au-Ag rock chip anomalies in an area of radiometric anomalism (U, Th, K) and in an area where pyrite has already been identified. A single rock chip collected by CRA Exploration in 1992 and described as: Porphyritic Partly Ferruginous K–Feldspar Adamellite with 350 cps total radiation count, assayed 0.12g/t Gold.

JUICY FRUIT SOUTH

“An intense IP chargeability anomaly at Juicy Fruit South is typical of silica-sericite-pyrite (phyllic) alteration which might be expected in the vicinity of mineralized porphyry” (Corbett 2009).

BULL’S EYE (Joint Venture with SLWQ)

The Bull’s Eye prospect is a geophysical anomaly consisting of a circular exceptionally strong magnetic high with a very low magnetic core.

TREVETHAN (Joint Venture with SLWQ)

Trevethan represents a target about 5 kms from Kildare in the southern tenement in which reconnaissance to date has identified quartz stringers with grades to 30 g/t Au, although drilling is reported to have yielded Au grades to only 0.44 g/t Au.

VEGETATION ANOMALY

Vegetation Anomaly is a collection of vegetation that is different, much more healthy and greener, than the surrounding vegetation. It appears from space as a circular feature. It is along strike between Noddy’s Creek and Kiwi Carpet and corresponds to a magnetic low. The geology is generally obscured by laterite.

BRIGALOW

The Brigalow prospect is approximately 1km north of Gordons. Recent drilling intersected significant mineralisation with the best intersection being 12m @ 488ppm Molybdenum and 0.15% Copper from 90m. This recent drilling now strengthens the potential to increase the north to south strike length of the system to 5km. Free Gold was also discovered in a gully at Brigalow during a stream and soil sampling survey. Follow up reconnaissance work at Brigalow has revealed a quartz stockwork system associated with massive Specular Hematite. This system appears to be high in Tellurium.

Mine For

molybdenum, copper, gold, zinc, silver, tungsten, titanium

Location of operation(s)

Queensland

Address

Level 1, 27-29 Crombie Avenue
BUNDALL, QLD, AUSTRALIA

Phone

(07) 5574 3830

Email

Website


Last Updated

26/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.