Polar X Ltd (ASX:PXX) has intersected a thick, high-grade zone of mineralisation in a drill hole 850 metres from the Zackly copper-gold deposit within its Alaska Range project in Alaska.
The results indicate the potential for flat-lying and thick near-surface mineralisation, suitable for low-cost open pit extraction, and extend the sub-horizontal mineralisation encountered in previous drilling.
The company plans to expand this new zone both along strike and down-dip with additional drilling and believes it could rapidly add many tonnes of near-surface resource if the thickness and grade is maintained.
Drilling intersected 46.7 metres at 3.1 g/t gold, 0.6% copper and 3.3 g/t silver from 37 metres, including a higher-grade zone of 21.7 metres at 5.2 g/t gold, 0.8% copper and 4.1 g/t silver from 59 metres.
This mineralisation is around 40 metres down-dip from the thick interval previously reported, which contained 55 metres at 2.8 g/t gold and 0.6% copper from 2.5 metres as well as a higher-grade zone of 24.6 metres at 4.6 g/t gold, 0.5% copper and 8.4 g/t silver from 2.5 metres.
READ: PolarX drills 15 metres at 2.3% copper and 22 g/t gold
Visible copper mineralisation in the newest hole occurs in veins and fractures, as native copper flecks and silicified chalcocite with variation in intensity throughout the zone.
The results indicate gold is present throughout the zone although no visible gold was observed.
The gold and copper oxide mineralisation is associated with quartz and sericite veining and alteration which is consistent with hydrothermal alteration proximal to a porphyry system.
Future mining could potentially commence with an open-cut mining operation on the shallow, low-angle mineralisation, before an underground operation to mine the high-grade, sub-vertical mineralisation established in the current resource and its immediate extensions.
Visually similar styles of mineralisation in both drill holes
READ: PolarX drills out more near-surface, high-grade copper gold silver
Zackly has an inferred resource of 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver, which is expected to increase following the current drilling program.
The deposit occurs over a strike length of 1 kilometre and remains open at depth and along strike in both directions.
PolarX is undertaking several exploration programs at Alaska Range, with results expected over the next few months.
Along with outstanding assay results for a number of holes, these results will include:
Soil sampling and geological mapping from the Mars porphyry copper-gold target;
Rock chip sampling and mapping from the Moonwalk gold target;
High resolution airborne magnetic survey over the project area; and
A Zackly resource update.