Aussie Q Resources - Molybdenum Exploration at Monto QLD Australia

Aussie Q Resources Limited (AQR – ASX) is a mineral exploration company that holds nine highly prospective copper/molybdenum exploration permits for minerals (EPM) in the Rawbelle district centred thirty kilometres to the west of the town of Monto in southern Queensland. These EPMs host nine prospects for molybdenum and copper, plus other areas that are anomalous in gold and zinc. All areas are being systematically assessed. Monto is a town of 1,700 people and the region hosts exceptional infrastructure.

The company has announced the Maiden Resource Statement for Whitewash namely;

Mineral Resource Statement for Whitewash (EPM14628 – AQR 100%) based on a Moly cut-off grade of 0.02%, with a strike length of 800 metres and depth extent of 400 metres is as follows:

Resource

Tonnes

Molybdenum

Copper

Silver

Molybdenum

Copper

Silver

Category

(million)

Grade

Grade

Grade

Metal

Metal

Metal

%

%

g/t

million

Mo

Cu

Ag

(t)

(t)

oz

Inferred

68.5

0.033%

0.10%

1.2

22,600

68,200

2.5

This represents:

22,600 tonnes of Mo, 68,200 tonnes of Cu and 2.5 million ounces of Ag.
An additional 0.9 million tonnes grading 0.03% Mo, 0.1% Cu and 1.4 g/t Ag is contained in the oxide mineralization overlying the resource.

The Maiden Resource Statement does NOT include the Gordon’s Knob mineralization immediately to the north of Whitewash.
The Whitewash resource is open to the north, south, west and at depth.

Independent group SRK Consulting has provided a Mineral Resource Statement for the Whitewash Project. The Resource Statement is based on assay data from 61 drill holes at Whitewash totaling 16,678.75 metres – for drilling completed up to July 31, 2008. Mineral credits from Titanium, Tungsten, Rhenium and other minor metals are not included in the estimate.

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Site Last Modified November 13, 2008

The company floated June 14, 2007 on the Australian Securities Exchange raising $AUD12 million.

AQR has assembled a well-balanced Board of Directors with wide experience in the successful development of green-field mining projects and a proven track record of exploration success, production and corporate matters. The Board believes that the Company is well placed to utilise these skills to enhance shareholder value.

Molybdenum is the prominent economic mineral across the project area. Molybdenum is a metallic element used primarily for steel alloying and as a catalyst. It occurs naturally in mineralised rocks in combination with other elements including copper, silver, zinc, tungsten and titanium.

AQR’s project area comprises a collection of nine prospects at varying stages of development. The most advanced prospect at Rawbelle is Whitewash where a large porphyry molybdenum/copper target has been partly drilled facilitating the calculation of a Maiden Resource Statement for Whitewash. The total exploration target at Whitewash based on soil geochemistry and geophysics potentially has an extent of 3km x 2km.

As of late August 2008, the company has infill drilled Whitewash, enabling a resource estimate to be calculated and announced, the resource has been defined over a region with a strike length of 800 metres and a depth extent of 400 metres. AQR has also collected geophysical data to assist in new target generation in the region. The company is convinced that excellent potential exists to host significant extensions to the known mineralisation within the Rawbelle Project area as outlined in the Geos Mining Report and Independent Geological Report in the AQR prospectus.

Aussie Q Resources Limited 2008
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