PolarX Ltd (ASX:PXX) has successfully completed four major exploration programs at its Caribou Dome Copper Project in Alaska and Humboldt-Range Gold-Silver Project in Nevada in the last four months.
Assay results are pending for the four programs, all of which have confirmed mineralisation.
Extended assay turnaround times are being experienced by all companies due to massive demand, global staff shortages and COVID-19 workplace restrictions.
Drilling is expected to re start at the Nevada gold-silver prospects in the March quarter of 2022.
Exploration programs
The four programs in chronological order of completion were:
➢ Caribou Dome: Drill intersections containing massive copper and iron sulphides from the mineral resource estimate envelope The samples were submitted to the sample preparation lab in Fairbanks, Alaska, in mid-September.
➢ Caribou Dome: Drill intersections containing disseminated and vein-hosted native copper mineralisation hosted in andesitic-basalt lava flows and of a similar nature to the Keweenaw copper deposits in Michigan. The samples were submitted to the sample preparation laboratory in early October.
➢ Humboldt Range Project: Channel samples of outcropping alteration and mineralisation associated with extensive stockworks of quartz veins in the Star Canyon area
- Previous field validation identified extensive outcropping ridges of intensely silicified and oxidised volcanic rocks hosting multiple quartz vein arrays and old gold-silver workings.
- The alteration reaches widths of up to 200 metres and extends over more than 400 metres of strike length before being concealed under thin soils to the north and south. This area represents the best-known target in the entire project for large tonnage, low moderate grade mineralisation.
- Channel samples representing a cumulative length of 467.8 metres were submitted to the assay laboratory in Reno, Nevada on November 19.
➢ Humboldt Range: Infill soil sampling to define the best gold anomalies more precisely in the Black Canyon claims. Samples were submitted to Reno lab on November 19.
Scoping study
Assay results and samples from the first program at Caribou Dome will add information to the scoping study evaluating the potential for joint operations at the Caribou Dome copper deposit and the Zackly copper-gold deposit.
The scoping study is expected to be complete in the first quarter of 2022.
Drilling program
Assay results for the other programs will be used for the detailed planning of 2022 drilling campaigns in both Nevada and Alaska.
Drilling is expected to commence in Nevada in the first quarter of 2022.
The company will provide further updates in due course.