PolarX Ltd (ASX:PXX) has started diamond drilling at its high-grade Caribou Dome Copper Project in Alaska, USA.
The program, comprising 1500 metres of core drilling, will test three high-priority targets which have been defined by soil sampling and geophysics.
The targets’ prospectivity is supported by the fact that they each share key geological characteristics with the deposits which host the existing resource of 2.8 million tonnes at 3.1% copper at Caribou Dome.
Strong copper anomalism
Copper mineralisation at Caribou Dome occurs in nine known lenses of massive sulphide mineralisation.
PolarX’s previous exploration has revealed these lenses that show strong copper anomalism in surface soil sample assays.
In addition, the anomalism can also be broadly mapped or predicted using induced polarisation geophysical surveys, displaying chargeability highs which are the same features that are present in the three new targets which PolarX will now drill.
Drilling Program
The drilling program, subsequent metallurgical test work and scoping study will form part of PolarX’s earn-in for 80% of Caribou Dome under the revised terms agreed last year.
PolarX’s drilling program is designed to meet two goals:
- Test three newly developed exploration targets each of which has the potential to host one or more massive sulphide lenses.
- Provide fresh high-grade copper sulphide samples for metallurgical testing to determine potential co-processing options with copper mineralisation from PolarX’s 100% owned neighbouring high-grade Zackly copper-gold project.
PolarX managing director Dr Frazer Tabeart is on-site in Alaska for the duration of the drilling program and will provide regular market updates on progress from the field camp.
Scoping study
Results from PolarX’s drill programs will feed into the joint scoping study to evaluate mining and processing options for the Caribou Dome and nearby Zackly deposits which will start this month, three months earlier than scheduled.
In addition, metallurgical test work to evaluate processing options for the Zackly copper-gold-silver mineralisation is underway in Perth.
The company’s current drilling will also provide fresh samples of high-grade copper in massive sulphides for further metallurgical test work to feed into the scoping study.
- Ephrems Joseph