Stocks of the Hour: Critical Resources, QX Resources, Sabre Resources, Asra Minerals

Critical Resources (ASX:CRR) announced today assay results from the current diamond drilling campaign at the Company’s 100% owned Mavis Lake Lithium Project. The assay results illustrate the continuity of high-grade lithium mineralization within the Main Zone of Mavis Lake and present continued intercepts of extremely high-grade lithium oxide. Critical Resources Non-Executive Director, Mr Alex Cheeseman said: “To follow our last results with another set of such high-grade assays is an excellent outcome for the Company, and further builds our confidence in delineating a JORC compliant resource in the near term. We believe the last few rounds of assay results have been some of the highest grades released by an ASX listed lithium company so far in 2022, this sets us up well to continue advancing the project and transition Critical Resources into a potential lithium project developer.” Shares are trading 8.7 per cent higher at 7 cents.

Qx Resources (ASX:QXR) today announced the appointment of former Lake Resources (ASX:LKE) CEO Steve Promnitz to the new role of MD to facilitate the growth and development of the company’s lithium assets and gold projects. Executive Chairman Maurice Feilich said “QXR’s board decided now is the right time to appoint a MD to fast track the development of these assets while also assessing new battery minerals projects that complement the portfolio”. Steve Promnitz added “I plan to advance the current assets and expand the focus on battery minerals by drawing on my extensive networks and skills from the past 6 years in the battery minerals sector”. Shares are trading 45.5 per cent higher at 5 cents.

Sabre Resources (ASX:SBR) today announced that the second diamond drillhole in the current program at Sherlock Bay has intersected a 15m sulphide zone including massive sulphide lenses and matrix sulphide breccia that correlates with the southwestern edge of the C3 massive sulphide conductor target. Sabre Resources CEO Jon Dugdale commented: “The intersection of massive sulphide lenses and matrix sulphide breccia at the southwestern end of the C3 Conductor indicates we are on the verge of a massive sulphide discovery at Sherlock Bay. Shares are trading 30 per cent higher at 1 cent.

Asra Minerals (ASX:ASR) today reported early drilling across 93 holes at the company’s flagship Mt Stirling Project in Western Australia has returned significant REEs and critical minerals results at the company’s Wishbone and Yttria prospects. Drilling results confirm the widespread occurrence of REEs, nickel, cobalt and scandium in the regolith profile developed at Stirling by weathering of an underlying source intrusion. Asra Executive Chairman, Mr Paul Summers, said: “The Company’s REEs and critical minerals endowment is shaping up to be unique on an international scale. It’s becoming clearer that our rare earths and critical minerals at Mt Stirling are actually very rare in their unique occurrence. Our deposit should require minimal blasting and crushing. Shares are trading 12 per cent higher at 3 cents.

Source: Finance News Network