SQX Resources (ASX:SQX) Bonanza-Grade gold confirmed at Red Bird, Arizona

SQX Resources has announced that recent underground sampling at the Red Bird Gold Project in Arizona has confirmed exceptionally high-grade gold results, including assays up to 49.2 grams per tonne (g/t) gold.

The results, obtained through its prospective acquisition of AM6 Pty Ltd, reinforce historical grades reported from the same workings and highlight the project’s potential as a near-surface, bulk-mineralisation system.

Highlights

• Underground chip-channel sampling at Red Bird returned assays up to 49.2 g/t Au.

• High-grade gold results include 49.2 g/t, 12.2 g/t, 9.4 g/t, 8.1 g/t, and 7.3 g/t Au from near-surface levels.

• Mineralisation confirmed across multiple levels, with broader zones of lower-grade gold mineralisation.

• Geological work suggests potential for open-pit development.

• Maiden 2,500m RC drill program planned for January 2026, pending permits and rig availability.

The sampling program, conducted by AM6’s US-based geological consultants, aimed to validate historical results and assess the distribution of gold mineralisation within the near-surface mine levels.

The assays confirm and, in several cases, exceed those recorded in historical work by Homestake Mining, with underground intersections of up to 54.3 metres at 2.5 g/t gold, including 15.2 metres at 3.8 g/t gold.

Gold mineralisation at Red Bird is hosted within altered sedimentary rocks: sandstones, conglomerates, and limestones, displaying features characteristic of wide-interval epithermal systems.

High-grade quartz veins and breccias occur alongside disseminated replacement-style mineralisation, all within 30 metres of surface.

This combination of high-grade cores and lower-grade halos supports the potential for an open-pit mining scenario in a historically underexplored region of Arizona.

SQX Resources Chairman Patric Glovac said the assays have validated the project’s geological model and reduced development risk.

“AM6’s assay results are highly encouraging in that they not only confirm, but in some instances exceed, the historical high-grade underground sampling results, which substantially de-risks the project. Pleasingly, the presence of additional continuous lower-grade disseminated gold mineralisation between the high-grade zones strongly supports AM6’s strategy to target a potentially open pit-able bulk mineralisation system.”

The Red Bird project comprises 48 unpatented claims under AM6’s control, including five core claims under a purchase agreement.

The site was actively worked during the early 20th century and later revisited by Homestake in the 1970s and 1980s, though limited modern exploration has taken place.

With the current gold price environment supporting renewed interest in shallow, high-grade systems, Red Bird’s combination of historical data and new assay confirmation provides a strong foundation for further exploration.

AM6 plans to advance the project toward a maiden JORC Mineral Resource Estimate, extending mineralisation along strike and at depth through geophysics and drilling.

A 2,500-metre reverse circulation drilling program is scheduled to commence in January 2026, subject to permitting and rig mobilisation. Additional consultants have been engaged to oversee field execution and quality assurance processes.

SQX’s proposed acquisition of AM6, announced in October, would deliver an 80% interest in both Red Bird in Arizona and the Williams Gold-Silver Project in Montana. Completion remains subject to shareholder approval, due diligence, and regulatory clearance.

In a broader context, the Red Bird results underscore the resurgence of exploration interest in the United States, particularly in historically productive gold belts.

For SQX, a company already active in Queensland’s Esk Basin, the move marks a strategic step into the North American precious metals sector with early indicators of substantial grade and scale potential.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.