PolarX Ltd (ASX:PXX) is about to commence drilling at its Alaska Range Project in Alaska as part of its strategy to rapidly grow the existing JORC resource and start feasibility studies.
The initial drilling program comprises 23 diamond drill holes designed to expand the known high‐grade Zackly copper‐gold skarn deposit.
READ: PolarX concludes $2.52 million raise for Alaska Range copper‐gold project
The Zackly deposit occurs over a strike length of 1 kilometre and already contains an estimated 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver.
Furthermore, the deposit is mineralised from surface.
The mineralisation remains open at depth and along strike at each end and provides an immediate opportunity to create further substantial value for investors.
Alaska Range Project also includes the Caribou Dome deposit
The Alaska Range Project also includes the Caribou Dome deposit, which has a JORC resource of 2.8 million tonnes grading 3.1% copper for 85,500 tonnes of copper.
PolarX aims to rapidly accumulate a sufficient copper‐gold inventory between Zackly and Caribou Dome to support feasibility studies on a combined operation or one or more stand‐alone operations.
Well accessible project in a pro‐mining jurisdiction
PolarX’s high‐grade copper‐gold asset is in the mining friendly jurisdiction of Alaska with easy road/rail access to the all year port at Seward.
The company’s management has proven technical expertise and experience in permitting and successful mine development in the US.