SQX Resources (ASX:SQX) completes North American acquisition securing high grade gold silver assets

SQX Resources has completed its previously announced acquisition of an 80% interest in AM6 Pty Ltd, securing ownership of two advanced gold and silver projects in the United States.

The transaction delivers SQX exposure to the Williams Gold Silver Project in Montana and the Red Bird Gold Project in Arizona, marking a material expansion of the company’s asset base into established North American mining jurisdictions with documented historical production and extensive underground development.

Highlights

• Completion of acquisition of 80% of AM6 Pty Ltd following satisfaction of all conditions precedent

• Ownership of the Williams Gold Silver Project in Montana and the Red Bird Gold Project in Arizona

• Consideration comprised 20,000,000 SQX shares, $250,000 cash and 30,000,000 performance rights

• Performance rights linked to drilling, intercept and resource related milestones

• Appointment of Dr Julian Stephens as Executive Director

The acquisition was originally announced in October 2025 and has now completed following shareholder approval under Listing Rule 7.1, satisfactory due diligence, and receipt of all required regulatory and third party consents.

Under the binding term sheet, SQX acquired its 80% interest in AM6 through the issue of 20,000,000 fully paid ordinary shares, a $250,000 cash payment and 30,000,000 performance rights.

The performance rights are structured to vest in tranches upon the achievement of defined exploration and development milestones, including drilling programs, drilling intercept criteria and the definition of exploration targets or mineral resources under JORC or NI43-101 standards.

At the Williams Gold Silver Project in Montana, recent underground sampling programs undertaken by AM6 have confirmed historical results generated during mining and exploration activities conducted in the 1980s.

Sampling included channel, grab and bulk methods from underground development levels and identified steeply plunging, high grade gold silver shoots within epithermal vein structures.

These mineralised structures generally dip around 70 degrees to the south and strike broadly east west, providing a coherent geological framework for follow up drilling.

Qualitative conductivity testing using a KT-20 conductivity meter has demonstrated that sulphide rich samples associated with high grade mineralisation exhibit elevated conductivity.

This result supports the potential application of electromagnetic techniques, including fixed loop, moving loop and downhole EM surveys, to assist in delineating conductive high grade shoots within the broader epithermal vein system prior to drilling.

The Red Bird Gold Project in Arizona is located in the Cochise Mining District and comprises 48 lode mining claims held by AM6, with recent underground sampling programs accessing multiple historical development levels and confirming earlier systematic underground channel sampling completed by Homestake Mining.

Reported results include multiple broad gold intersections from shallow underground levels, with mineralisation hosted in altered sedimentary rocks including sandstones, conglomerates and limestones.

The mineralisation style includes quartz veins, breccias and disseminated replacement mineralisation, with both high grade vein material and broader lower grade halos identified within close proximity to surface.

SQX Executive Chairman Patric Glovac said the completion of the transaction represented a defining step for the company, stating that

“we now own 80% of two exceptional high grade North American precious metal projects, each with validated historical data and extensive upside.”

Following completion of the acquisition, Dr Julian Stephens has joined the board as Executive Director, bringing more than 25 years of experience as an Australian economic geologist across Africa, North America and Australia, including leadership roles at ASX listed companies.

His doctoral research focused on reduced intrusion related gold systems in North America, aligning closely with the geological setting of the Williams Project.

The next phase will centre on systematic drilling and technical evaluation to test the scale and continuity of the mineralised systems within the context of established North American gold silver provinces.

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.