PNX Metals Ltd (ASX:PNX) has commenced an 11-hole, 1,300-metre reverse circulation drill program at its Moline Project in the Pine Creek region of the Northern Territory.
The Moline Project is about 65 kilometres east of the company’s flagship Hayes Creek zinc-gold-silver project.
PNX’s drill program will focus on the Moline and Tumbling Dice prospects to increase geological confidence and continue to define mineralisation within the boundaries of potential open-pit mining.
READ: PNX Metals hits high-grade gold in drilling at Fountain Head
PNX managing director James Fox said: “This drill program at Moline is aimed at extending high-grade gold and lead-zinc mineralisation and to assess the scale potential as additional ore feed for Hayes Creek.
“Importantly, metallurgical test work highlights the potential for Moline mineralisation to be recovered and upgraded to a high-value concentrate through the proposed Hayes Creek process plant.
“This would have a very significant positive impact on the economics of an already robust project, in particular on the projected mine life where the aim is to extend this beyond ten years.”
Moline Project drill collar locations
Drilling by PNX at Moline in late 2016 and 2017 returned numerous high-grade gold and base metal intersections including:
• 2 metres at 4.66 g/t gold, 177g/t silver, 4.95 zinc and 4.41% lead from 92 metres at the Moline prospect;
• 9 metres at 2.57 g/t gold from 92 metres at the Moline prospect;
• 10 metres at 1.67g/t gold and 0.97% zinc from 57 metres at the Tumbling Dice prospect; and
• 30 metres at 2.29g/t gold and 0.70% zinc from 78 metres at the Tumbling Dice prospect.