Rubix Resources Limited (ASX: RB6) has completed drilling activities at its Paperbark Project in northwest Queensland. Drilling campaign completed successfully at Paperbark Project, northwest Queensland, to meet that-filled-paper new pitch.
The effort concentrated on the Grunter North Prospect, which, after the geophysical surveys, had been earmarked as a high-priority target. This interaction is certainly a good stepping stone along the company-while-on-exploration road. It adds further to the understanding of geology within the Lawn Hill Platform.
Rubix confirmed that drill hole safety and success were achieved even under difficult ground conditions. The company considers this milestone a significant step toward advancing its exploration pipeline. The focus is now shifted to the recent analysis of results and planning for future work programs.
Rubix’s Paperbark Project in northwest Queensland
Why was the Grunter North Prospect targeted?
Due to a chargeability anomaly detected beneath copper mineralisation at the surface, the Grunter North prospect was prioritised. This was measured to be 600 m long, 300 m wide, and 200 m thick. Dimensions were thought to be suitable for large-scale sulphide mineralisation.
Rubix Resources Limited classified this anomaly as the most exciting opportunity for testing deeper mineralisation. Early views suggested the anomaly was structurally controlled and sediment-hosted, which is consistent with known mineralisation styles in the region. The company sought to validate these interpretations through a carefully designed drilling program. The site was therefore considered a compelling exploration priority.
Set-up of drilling operations at Grunter North Prospect
How was the drilling funded?
The program has acquired vital assistance from Queensland Collaborative Exploration Initiatives (CEI), for example. Rubix Resources Limited was granted the largest award of $275,000 to do the work. This money would cover some of the drilling costs, relieving some financial pressure and promoting efficient exploration.
The CeI-backed government initiative signals that the project has great potential for Queensland’s resource sector. According to Rubix, this sponsorship allowed for a more extensive drilling program to be conducted than had initially been planned.
Here is yet another instance of how the government and private sectors can unite with positive results in favour of exploration. CEI has successfully supported projects for growth and benefits to the region over many years.
What did the drill campaign involve?
The Paperbark drilling program was made up of three holes drilled for a total length of 1,210 metres. Rubix used RC and diamond drilling methods for maximum data recovery sampling for geochemical data and structural, i.e., orientation data collection.
One hole was relocated to the JB Zone during drilling due to difficult ground conditions. This relocation enabled Rubix to test some of the other anomalies associated with lead and zinc mineralisation. Samples from all holes have been sent for laboratory assays.
The company confirmed that drilling was executed on schedule and with minimal disruption. Rubix’s exploration team will now focus on analysing the new geological information.
Overview of Rubix’s completed drillholes
Strategic importance of the Paperbark Project
The Paperbark Project sits within the Lawn Hill Platform, which is part of the Western Mount Isa Inlier. This geological province is internationally known for major base-metal deposits. Operators in the neighbourhood include Rio Tinto, Anglo American, and Mount Isa Mines, attesting to the strong exploration credentials of the region.
Paperbark is likewise positioned close to the Century mine, one of the largest zinc deposits globally, allowing Rubix to leverage some infrastructure and possible synergies. Founded on the subsistence of proven prospectivity, the project area increases the chances of further discoveries. Rubix has reiterated that Paperbark will form the foundation of its long-term plans.
Assay results are now awaited
Now, after drilling has been completed, Rubix Resources Limited is preparing the samples for detailed laboratory studies and analysis. The company expects assay results to be obtained within eight weeks. These plant assay results will provide essential information on the grades of minerals, continuity, and potential extensions. In addition to the assays, Rubix will collect geochronological and lithological data.
This data is to clarify the age and alteration history of the rocks. Such information will be key in guiding follow-up exploration. Completion of drilling marks a turning point in the project, shifting the focus from physical operations to analytical results. The company remains optimistic about the outcomes.
Investor outlook following Paperbark completion
Some investors are keeping their eyes on Rubix Resources Limited as it progresses with the Paperbark Project. Completion of drilling has cemented investor confidence in the company’s ability to carry out exploration programs. Should there be confirmation of copper, lead, or zinc mineralisation in an appreciable quantity from assay results, the project would certainly attract a lot of attention from industry members.
The commercial advantages of the project would be given a further push by its proximity to existing mines and infrastructure. Also, the demand for copper and zinc is backed by strengthening forces like growth in the renewable energy and infrastructure sectors. Given these market forces, the discoveries have a potential platform to shine. Investor outlook still leans cautious yet optimistic, with near-term sentiment shaped by assay results.
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FAQs
- What was the purpose of the drilling at Paperbark?
The program was for testing a large chargeability anomaly beneath copper mineralisation at Grunter North Prospect.
- How many holes have been drilled?
Rubix has drilled three holes for a total depth of 1,210 metres, using RC and diamond drilling methods.
- When will the assay results be released?
Assay results are due in about eight weeks, together with geochronological and lithological data.
- How was the drilling funded?
Rubix Resources Limited received a $275,000 grant under Queensland’s Collaborative Exploration Initiative program.
