PolarX Ltd’s (ASX:PXX) resource extension drilling at its Alaska Range project continues to deliver high-grade copper and gold results with the potential to add to the Alaskan project’s resource.
Mineralisation at the Zackly copper‐gold deposit has now been extended 100 metres below the inferred resource of 41,000 tonnes of copper, 213,000 gold ounces and 1.5 million silver ounces.
Latest results of up to 1.4 metres at 3.2% copper, 9.3 g/t gold and 38.2 g/t silver from 285.5 metres provide further evidence of the potential for a resource increase and the existence of a nearby porphyry.
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The cumulative width of intersections in hole ZX‐18018 is thicker than previous intercepts and also includes 2.5 metres at 2.3% copper, 3.5 g/t gold and 18.5 g/t silver from 326.1 metres.
Visible magnetite, high-tenor copper sulphides and gold in core from hole ZX-18018.
New assay results for this hole 850 metres east of the resource follow last week’s reported intersection of 55 metres at 2.8 g/t gold and 0.6% copper from near‐surface.
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Mineralisation in this hole occurs around 100 metres vertically below an historical drill hole.
It is expected that this will result in the resource block model extending down‐dip by a similar distance, thus increasing the size of the inferred resource at Zackly.
Another hole will now test the deeper mineralisation at a similar vertical level 60 metres along‐strike to the west.
Drill hole plan for Zackly.
Porphyry copper-gold potential
PolarX believes this hole is significant because the geological nature, width and the grade of the mineralisation supports the potential for a porphyry copper‐gold target at Zackly SE.
Further assays are expected shortly, including for holes ZX‐18021 and ZX‐18024, both of which occur on the same cross‐section as ZX‐18020.
Alaska Range hosts an overall resource of 127,000 tonnes of copper, 213,000 gold ounces and 1.5 million silver ounces, including 85,800 tonnes of copper from nearby Caribou Dome deposit.