Explorer SQX Resources has just launched their $5m IPO at $0.20/share, with plans to list on February 3, 2023 (indicative and subject to change). 

The company’s tenement is located in the Esk Basin in South-East Queensland, and contains two prospects – Scrub Paddock and Ollenburgs – both of which feature historical mine workings, known mineralisation and prospectivity for gold-copper porphyry mineralisation.

Targeting a porphyry of scale

The immediate focus is on Scrub Paddock where the company plans to commence drilling shortly after listing, targeting a gold-copper porphyry system. Mineralisation extends across a 2km strike length and previous drilling has already identified a number of higher-grade gold zones within broad lower-grade intervals.

The Ollenburgs Prospect also hosts the potential for a gold-copper porphyry, and SQX plans to expand on soil sampling, undertake IP surveying and, if justified, follow up with exploration drilling.

The Cadia/Ridgeway porphyry copper-gold and gold-only deposits of Southern NSW can be considered as potentially analogous to the geological setting of the tenement, with the geometry and fracturing of the magnetic anomaly at Scrub Paddock also of a comparable scale to the magnetic feature associated with Cadia/Ridgeway.


The Scrub Paddock prospect where previous drilling returned 8m at 3.38 g/t gold within a broader zone of 40m at 0.92 g/t gold. Pic: supplied.

Exposure to copper’s favourable market outlook

“The Board is excited to take the company and its prospects to the next stage of their development and to gain exposure to copper, given current market conditions,” SQX said.

“Copper is expected to face large supply deficits mid-decade, given a surge in demand on the back of the green transition and sticky supply.”

And the company has some experience in the Board and Management team, including CEO Mark Purcell who comes with experience in corporate finance and mining and Non-Executive Chairman Bryan Granzien who is currently Managing Director of Hawsons Iron (ASX:HIO).



This article was developed in collaboration with SQX Resources Limited, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.