Molybdenum, page-3

Lithium definately the priority.

Refer below previous announcement re Molybdenum.

QLD Tenements

18October 2021 - Upgrade of Mineral Resource for Advanced Stage Anthony Molybdenum Deposit
HIGHLIGHTS:
•Mineral Resource Estimate (MRE) upgraded forthe Anthony Molybdenum Deposit from JORC Code 2004to JORC Code 2012 with an emphasis on recoverable resources from the oxide zone
•Indicated and Inferred Resources for the Oxide domain (using a 400ppm Mo cut-off) total 17.5Mt @ 520ppm Mo (contained Mo 9,100 tonnes / 20.1million lbs)
•Indicated and Inferred Resources for the Transition (partially oxidized) domain (using a 600ppm Mo cut-off) total 2.1Mt @ 790ppm Mo (contained Mo 1,700tonnes / 3.7million lbs)
•Indicated and Inferred Resources for the Sulphide domain (using a 600ppm Mo cut-off) total 17.4Mt @ 780ppm Mo (contained Mo 13,600 tonnes / 29.9 million lbs)
•Potential mining and processing scenario consistof open pit mining of weathered material, crushing, gravity separation techniques to produce a concentrate averaging around 1,500ppm Mo, sulphuric acid and sulphur dioxide leaching to produce oxide Mo products for use in the chemical and agricultural sectors

QX Resources Limited (ASX:QXR, ‘QXR’) is pleased to announce the results of an upgrade of the Mineral Resource Estimate (MRE) for the Anthony Molybdenum deposit in Central Queensland (Figure 1).The Anthony Molybdenum deposit is located approximately 70km northwest of Clermont and 810km northwest of Brisbane (latitude 22.31°S / longitude 147.28°E). The area of the deposit is covered by EPMs (Exploration Permit for Minerals) 15145 and 14790, both held 100% by Zamia Resources Pty Ltd, which are part of the earn-in agreement between QXR and Zamia Metals Limited (Zamia) announced on 1 July 2020.Zamia previously announced Mineral Resources for the Anthony deposit in March 2021. The 2012 MRE was prepared by Hellman & Schofield Pty Ltd (H&S) and was reported under the JORC Code 2004. QXR commissioned Geos Mining, Minerals Consultants, to update the MRE in accordance with the principles and guidelines of the JORC Code 2012, with emphasis on the near-surface oxidized part of the deposit.

Comment
Non -Executive Director Roger Jackson commented: “The upgraded MRE for Anthony Molybdenum deposit is an important value drive for QX. This report provides the company with a robust footing to undertake the next steps to a scoping study. We are also planning beneficiation and metallurgical test work on the oxide material to further optimize the economics of the project. We are hopeful that with successful test work and the results of the scoping study, we have the foundations in place to take Anthony right through to development. This is a large and valuable molybdenum resource.”