Rubix Resources Strengthens Portfolio With Exploration and Acquisition Moves

Rubix Resources (ASX: RB6) has completed drilling at its Paperbark project in northwest Queensland and signed a non-binding deal to acquire prospective bauxite licences in Central Africa.

The twin updates provide both near-term exploration results from a base and critical metals project in Australia and potential entry into one of the world’s major bauxite regions.

The company said the approach reflects a dual-track growth strategy combining technical exploration progress with portfolio diversification into bulk commodities.

Paperbark Drilling Insight

The Paperbark program consisted of three reverse circulation and diamond holes totalling 1,210 metres – two at Grunter North and one at the JB Zone – testing chargeability anomalies that geophysics had identified.

At Grunter North, one hole intersected hematite-altered granite and epithermal-style quartz veins containing pyrite and traces of chalcopyrite, while the second cut through graphitic black shales and silicified sediments with disseminated pyrite, a likely source of the chargeability anomaly.

The JB Zone hole intersected sulphides, notably sphalerite and galena, consistent with replacement-style zinc-lead mineralisation encountered in earlier programs.

Rubix said these findings highlight the broader potential of the northern Mount Isa Inlier, which is known to host large-scale copper and lead-zinc systems, and assay results are due back from ALS Laboratories in Mount Isa by the end of September.

The A$275,000 Collaborative Exploration Initiative grant Rubix received earlier this year supported the program, underscoring government recognition of the Paperbark project’s critical minerals significance.

African Bauxite Acquisition

Rubix has also signed a non-binding agreement with Nyos Metals and Yoro Metals to acquire 100% of several exploration licence applications in Cameroon and Congo.

The Cameroon package covers the Bangem and Fontem areas, while the Congo concessions total about 3,000 square kilometres across the Kouyi and Kibangou regions, both of which are prospective for bauxite but have seen no modern exploration since the 1960s.

Transaction terms include staged payments of A$1.2 million in cash and 10 million shares, plus performance rights converting into equity upon reaching exploration milestones.

These include defining a JORC resource of 50 million tonnes at 42% aluminium oxide or completing a scoping study with an NPV above A$500m or an internal rate of return of greater than 25%.

Diversification Across Commodities

Rubix chief executive officer Casey Blundell said the Paperbark results had strengthened the company’s technical knowledge of a highly prospective mineral province, while the proposed African acquisition offers exposure to long-term growth in the aluminium sector.

“Paperbark continues to demonstrate the hallmarks of a mineral system with scale potential, and the support of the Queensland government through the CEI program reinforces its strategic importance,” he said.

“At the same time, Cameroon and Congo present a rare opportunity to secure ground in globally significant bauxite provinces that remain underexplored with modern methods.”

“Together, these initiatives position Rubix with a pipeline of opportunities across both critical and bulk commodities.”