PolarX Ltd (ASX:PXX) has received more strong gold-copper results from Zackly deposit at the Alaska Range project in the US state of Alaska which reinforce the potential for a large open pit mine.
The latest result of 20.2 metres at 1.1 g/t gold, 0.3% copper and 5.3 g/t silver from just 8.2 metres depth is from diamond drill hole ZX-18021 adjacent to the mineralised body already outlined.
Within this were higher grade zones including 2.4 metres at 2.3 g/t gold, 1.3% copper and 23.6 g/t silver from 8.5 metres and 2.9 metres at 3.6 g/t gold, 0.4% copper and 7.1 g/t silver from 16.0 metres.
READ: PolarX’s efforts may update resources at ‘open-pittable’ Alaska Range Copper-Gold Project
There were also several mineralised zones intersected further down-hole.
Assay results summary for hole ZX-18021.
The results indicate that gold and copper is present throughout zones of strong quartz veining and sericite alteration in the hole.
This is similar to observations from two holes drilled just 50 metres away which returned 55 metres at 2.8 g/t gold and 0.6% copper from 2.5 metres and 46.7 metres at 3.1 g/t gold and 0.6% copper.
The association of gold and copper mineralisation with quartz and sericite veining and alteration is consistent with hydrothermal alteration proximal to a porphyry system.
Confident of adding to resource
PolarX is confident of further good results from this area with high-resolution aeromagnetic data indicating that the mineralisation trend continues 850 metres further east from the Zackly resource.
The Zackly inferred resource stands at 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver from the surface.
It occurs over a strike length of 1km and the company believes this will increase as a result of the current drilling program.
Zackly drill hole plan showing the inferred resource outline and 2018 drill holes collared to date.
In results received to date, PolarX has consistently observed a close association between copper, gold and magnetite.
READ: PolarX survey confirms porphyry copper-gold potential at Zackly SE in Alaska
The recent 50-metre spaced aeromagnetic survey has greatly improved understanding of the continuity of mineralisation.
Near-surface high gold grades and the thick, sub-horizontal geometry of the mineralisation indicate that it could be suitable for low-cost open pit extraction once an economic resource has been established through further drilling and feasibility studies.
Further drilling
PolarX plans to rapidly expand this zone along strike and down‐dip through additional drilling.
This could add many tonnes of near‐surface resource if the thickness and high-grades of mineralisation are maintained, justifying a formal feasibility study.
Subject to further drilling and study results, future mining could begin with an open cut operation on this shallow, low-angle mineralisation.
This would precede an underground operation to mine the high-grade sub-vertical mineralisation established in the current resource and immediate extensions 350 metres to the east.
The company expects the near-term news flow to continue with further drill hole assays as well as soil sampling assay results and geological mapping from the Mars porphyry copper-gold target.