PolarX Ltd (ASX:PXX) continues to grow the Zackly East prospect within its Alaska Range Project in the US state of Alaska with drilling returning more wide, locally high-grade intersections of gold and copper.
One of the latest holes (ZX20040) has returned an assay of 11.2 metres at 2.45 g/t gold and 1.1% copper from 52.6 metres depth.
This was within a broader zone which returned 24.5 metres at 1.24 g/t gold and 0.6% copper and within an envelope of 68.6 metres at 0.64 g/t gold and 0.3% copper which starts at just 8.5 metres down-hole.
These results are all outside the existing JORC resource estimate of 213,000 ounces of gold, 41,000 tonnes of copper and 1.5 million ounces silver at the Zackly project.
“Further growth expected”
A total of 23 holes for 3,130 metres of core have been drilled and logged with assays for the first six holes now received.
PolarX managing director Dr Frazer Tabeart said Zackly East was continuing to grow to the east and remained open in all directions.
“These latest results prove that thick zones of near-surface mineralisation continue further to the east, showing locally high-grade zones within a very broad mineralised envelope.
“Our most recent drilling has been to the east and north of these results.
“This again revealed strong skarn alteration in structures associated with very strong magnetic gradients.
“The high-grade mineralisation at the Zackly Main skarn is also associated with a similar magnetic gradient so further growth in mineralised strike is expected on receiving those assays.”
Discovery drill section at Zackly East.
“High-priority drilling targets”
Dr Tabeart said that at least 2 kilometres of these newly identified structures remained untested to the north and east of current drilling and were now high-priority drilling targets.
He said: “We have also observed features in the new magnetic data consistent with a nearby porphyry target, which also remains untested.”
The target to the north and east of current drilling, shows a magnetic high is surrounded by a magnetic low, producing an ‘eye’ structure consistent with geophysical models of porphyry style mineralisation.
This target has never been drilled and is a high priority for follow-up.