Williams hosts extraordinarily planar, high-grade epithermal gold-silver veins. Eight mineralised vein structures are known, but only two, the Black Bear South and North veins, have seen significant historical work.
A high-grade history
The project includes more than 445m of exploration drives plus stopes and raises. Historically, a stope from the 101 raise produced 876 tonnes grading 141.7 g/t Au and 780 g/t Ag. The Black Bear South Vein is present for over 900m of strike at surface and remains open.
2025 sampling
Underground chip-channel and grab sampling returned up to 358 g/t Au and 1,800 g/t Ag from the historically mined 101 raise. Representative chip-channel sampling on the main 1,666m development level included 0.6m @ 75.1 g/t Au + 576 g/t Ag and 0.7m @ 40.7 g/t Au + 319 g/t Ag.
Banded semi-massive sulphides with high conductivity host the highest grades, giving a clear pathway for electromagnetic (EM) targeting of high-grade shoots.
Ground expansion
A winter staking campaign in February 2026 added 25 claims, more than doubling the footprint to 45 claims. The new ground captures interpreted strike extensions of the Black Bear vein sets, up to about 2.5km, and new targets at Fool’s Hen and Christian’s Reef, where a single 2025 grab sample assayed 4.3 g/t Au and 30 g/t Ag.
Next steps
- Surface mapping and rock-chip sampling began in September 2026. Samples are at the laboratory, with results expected in the December 2026 quarter.
- Subject to assays, fixed-loop EM surveying over the Black Bear system, followed by drilling of priority conductors.
Refer ASX announcements: SQX Secures High-Grade USA Gold & Silver Projects (16 October 2025); High-Grade Gold & Silver Assays at Williams Project (18 November 2025); Staking campaign more than doubles ground position at bonanza-grade Williams Au-Ag project (13 February 2026).