Stocks of the Hour: Alkane Resources, QX Resources, Buxton Resources


Alkane Resources (ASX:ALK) announced they have increased their gold and copper grades by 30% and 28%, respectively, at the Boda Prospect in Central New South Wales. In response, Alkane Managing Director, Nic Earner, said, ““Not only has the definition increased from Inferred to Indicated but the entire resource has increased in both grade and metal endowment. We will be adding to the Indicated resource when Kaiser is updated in Q1 next year.” Shares are trading 6.3 per cent higher at 67.5 cents.

QX Resources Limited (ASX:QXR) is pleased to confirm that brines were successfully intersected in the first hole of a two-hole diamond drill program over the large scale Liberty Lithium brine project in California, USA. QXR Managing Director, Stephen Promnitz, said: “[the] brines have been intersected at multiple depths in favourable geology with the hole producing brines at a good rate. This is a great start and we look forward to updating the market with assays in six weeks.” Shares are trading 4.35 per cent higher at 2.4 cents.

Buxton Resources (ASX:BUX) have announced high grade copper and Molybdenum mineralisation at its 100% owned Copper Wolf Project. In response, CEO Marty Moloney commented, “Buxton's project generation work continues to add value for our shareholders and we're now focussing on the 100%-owned tenure surrounding the JV where mapping & sampling is underway." Shares are trading 7.89 per cent lower at 17.5 cents.