SQX Resources (ASX:SQX) completes maiden RC drilling at Red Bird Gold Project, Arizona

SQX Resources has wrapped up its maiden Reverse Circulation drilling campaign at the Red Bird Gold Project in Arizona, marking the company’s first on ground program across the historically productive epithermal system and setting up an imminent assay catalyst as samples move through the laboratory.

Highlights

• Maiden ~2,500 m RC drilling program completed at the Red Bird Gold Project in Arizona
• 25 holes drilled for a total of 2,509 m targeting epithermal vein, breccia and replacement mineralisation
• Program designed to test depth and strike extensions of structures previously returning assays up to 49.2 g/t Au
• Holes also assessed a broader disseminated halo, targeting a potential open pittable resource model
• Samples despatched to ALS Tucson, with first assay results expected in approximately 3 weeks

The program comprised 25 holes for 2,509 m, focused on five priority zones including the Main Zone, Cave Tunnel and Red Bird North.

Drilling targeted the core epithermal vein, breccia and replacement mineralisation system, with a dual objective of validating high grade potential identified in recent sampling while also assessing lower grade halo mineralisation that could support bulk tonnage development scenarios.

Operationally, SQX deployed a high mobility, slimline RC MPP Grasshopper rig supplied by Midnight Sun Drilling, enabling precise collar placement in rugged terrain while maintaining a minimal environmental footprint.

The company reported excellent sample recovery and achievement of all primary target depths, with material now securely transported to ALS Tucson for analysis.

Executive Director Dr Julian Stephens said the completion of the campaign marked a key transition point for the company, noting that

“Completing the maiden program at Red Bird on schedule and with such technical precision is an important milestone that moves SQX into an active phase of exploration.”

The Red Bird Gold Project sits within Arizona’s established mining heartland and represents one of SQX’s core North American assets held via its 80% owned subsidiary AM6 Mining LLC.

The company is systematically testing the continuity of mineralisation identified in historical records and confirmed through recent fieldwork, with the current program designed to advance understanding of both selective high grade underground potential and broader open pit style mineralisation.

Beyond Red Bird, SQX maintains exposure to a second historically productive precious metals system through the Williams Gold Silver Project in Montana, described as a high grade, vein hosted epithermal system with extensive underground development and strong historical production credentials.

In Australia, the company also holds gold and copper exploration interests at Ollenburgs and Scrub Paddock within EPM 27257 in southeast Queensland, providing additional optionality alongside its US focused portfolio.

With drilling now complete, attention turns to laboratory results, which are expected within approximately 3 weeks and will provide the first systematic dataset from modern RC drilling across Red Bird.

The company has characterised this period as the start of a high impact news flow phase, as assay outcomes are integrated with geological observations to refine targeting across the broader epithermal system.

While still early in the exploration cycle, the completion of SQX’s maiden drilling campaign establishes an operational baseline at Red Bird and advances the project from surface validation into subsurface testing.

In a broader industry context where disciplined exploration and project prioritisation remain critical, forthcoming assay data will be central to defining the next phase of work across SQX’s North American portfolio.

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