PolarX Ltd (ASX:PXX) expects to increase copper, gold and silver resources at its Alaska Range project in Alaska after receiving strong high-grade, near-surface results from drilling at the Zackly deposit.
The first assay results from the 5-hole program included a hit of 55 metres at 2.8 g/t gold, 0.6% copper and 9.4 g/t silver from just 2.5 metres in hole ZX-18020.
READ: PolarX drills out visible copper sulphides in latest hole at Zackly
Within this were 11.5 metres from 2.5 metres at 0.6% copper, 5.3 g/t gold and 12 g/t silver; 8.8 metres from 18.3 metres at 0.5% copper, 5.8 g/t gold and 5.6 g/t silver; and 11.3 metres from 32 metres at 0.8% copper, 1.8 g/t gold and 23.3 g/t silver.
Also within the intersection was a 0.3-metre interval from 56.7 metres which assayed 27.3% copper, 2.5 g/t gold and 82.5 g/t silver.
This intersection was close to the bottom of the overall mineralised zone in this hole.
Further assay results soon
Hole ZX-18020 was drilled 850 metres east of the Zackly resource which stands at 41,200 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver over a strike length of 1 kilometre.
Given this result and with several other holes in the program intersecting visible gold and copper outside the resource, PolarX expects the JORC-compliant resource estimate to increase.
Assay results for the other four holes are expected within two to three weeks.
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The company also believes that the geological nature, width and the grade of mineralisation in the hole supports its view of the potential for a porphyry copper‐gold target at Zackly SE.
Gold and copper mineralisation in the hole occurs from near‐surface under 2.5 metres of transported cover in garnet‐bearing skarn alteration above a fault.
Hole ZX-18024 intersected similar garnet skarn alteration further to the north on this section with hole ZX-18021 intersecting skarn further to the south
Adding to the overall Alaska Range resource is the nearby Caribou Dome deposit which hosts a measured, indicated and inferred resource of 85,800 tonnes of copper.