PolarX Ltd (ASX:PXX) (FRA:PX0) has expanded its landholding at its Humboldt Range Gold-Silver Project in Nevada, US, following impressive recent drilling results.
As reported recently by Proactive, PolarX received very high-grade silver assays accompanied by gold grades at Fourth of July claims, which verified and extended the high-grade historical rock chip samples from the southernmost veins at the claims.
It has now expanded its landholding next to those claims, securing an additional 358.7 hectares covering extensions of known mineralised gold-silver veins and recently discovered mineralised breccias located during systematic sampling.
Fourth of July potential
PolarX has secured 45 new lode claims at Fourth of July, which is at the southern end of the Humboldt Range Project and is less than 15 kilometres from the Rochester Mine, which hosts 400 million ounces of silver and 3 million ounces of gold.
This follows the bonanza silver assays received in late May and visible mineralised outcrop sitting outside of the existing claims.
The new lode claims secure the mineralisation noted during transit to field areas, including gossanous breccias and old workings.
Soil sampling and rock chip sampling has been undertaken on these new claims, with assays expected in the next 2-3 weeks.
Progress thus far
More than 50 assays were received from rock-chip samples collected by the company at the Jackson, Cottonwood, Black Warrior and Lucky Dog veins within the Fourth of July claims last week.
All veins returned very high silver grades, several with bonanza grades well above 1,000 g/t, including 1,360.5 g/t, 1,110.9 g/t, >1,500 g/t, 1,374.4 g/t, 1,693.7 g/t, 1,099.2 g/t, 2,083.3 g/t, 1,070 g/t and 1,880 g/t.
These results complement and extend historical sampling which showed similar silver results and gold grades up to 17.3 g/t.
In addition to rock chip sampling of known veins, systematic soil sampling on a notional 200 x 50-metre grid has been completed over all the Fourth of July claims, with assays expected in 2-3 weeks.
Systematic soil sampling, vein sampling and geological mapping of the more gold-dominant Black Canyon claims to the north is underway, where previous sampling returned peak vein samples of up to 3,384 g/t gold, 2,837 g/t silver, 22.9% lead and 3.1% zinc.
The company expects to receive assays in June/July and to integrate all the exploration data to define preliminary drill targets in July-August, allowing drill permitting to commence in August for a potential fourth-quarter drilling campaign.
PolarX technical staff will shortly relocate to Alaska to prepare for a core drilling program at the high-grade Caribou Dome Copper Project, which has a mineral resource estimate of 2.8 million tonnes at 3.1% copper, and this is expected to commence in August.
- Daniel Paproth