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NQ Minerals discovers new prospect areas at Ukalunda

The drill programme at Ukalunda has been well planned and drill holes have been pegged ready for commencement in January.

The focus has been on Ukalunda ahead of the January drilling programme

ISDX-listed NQ Minerals (ISDX:NQMI) continues to be encouraged by developments at its two exploration projects in North Queensland, Australia - particularly Ukalunda.

At Ukalunda, new prospect areas continue to be discovered while preliminary metallurgy tests on samples from the stockpiles revealed impressive results. Head assay silver (Ag) grades for the samples were as high as 8520 parts per million (ppm) at the Sunbeam area, with copper (Cu) at 4.23%), 464 ppm at Daisy (with Cu at 4.17%) and 44 ppm at White's Hope (with Cu at 4.56%).

The geological team has primarily kept its focus over recent months on the Ukalunda project in preparation for the drilling programme in January 2016, but at the Square Post asset, galena bearing samples from Breccia Knob have been delivered to Geoscience Australia representatives for examination.

The results are likely to assist future exploration targeting.

“The drill programme has also been well planned and drill holes pegged ready for commencement in January,” said Brian Stockbridge, non-executive chairman of NQ.

NQ revealed it has issued a further 1.25mln shares at 8p a pop, taking the number of shares in issue up to 144.39mln.

Quick facts: NQ Minerals PLC

Price: 8.5 GBX

Market: NEX
Market Cap: -

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