PolarX Ltd (ASX:PXX)’s start to RC percussion drilling at its gold-silver drill target at Humboldt Range Project near the head of Star Canyon in the Black Canyon of Nevada is already delivering encouraging results.
The company has seen mineralisation in all 10 holes drilled at the Star Canyon target.
PolarX's Frazer Tabeart spoke with Proactive’s Andrew Scott this morning about this strong start.
PXX started reverse circulation (RC) drilling two weeks ago at the Star Canyon target for bulk-tonnage gold-silver mineralisation at the northern end of its Humboldt Range Project.
The 10 holes drilled so far, have encountered variably altered and mineralised limestone.
Oblique 3D-view showing Star Canyon channel samples with respect to gold-in-soil anomalism, high-grade vein samples and proximity to the Florida Canyon gold mine.
The results are highly encouraging as they are consistent with the styles of alteration and mineralisation commonly associated with Carlin-type and related deposits in Nevada, a world-class precious metals province.
Black Canyon is at the northern end of Humboldt Range and is less than 3 kilometres from the operating Florida Canyon Mine, which hosts 5 million ounces of gold.
PXX will now send the results for assay, to determine if this mineralisation reported from preliminary geological logging has commercial significance.
Initial assay results are expected in four to six weeks, while PXX has moved the drill rig to the Fourth of July claim block to start a 10-hole program to test multiple targets for gold-silver mineralisation.
RC drill chips laid out for logging at Star Canyon, Humboldt Range, Nevada. Note intense bleaching of the lower two rows of samples.
Ten holes tested
The holes drilled so far, tested a coherent gold-in-soil anomaly measuring 645 x 500 metres at >50ppb gold which is concealed under thin soils to the north and south. Importantly, it remains open and untested beneath that cover.
This area is Humboldt Range’s best-known target for large-tonnage, low to moderate grade gold-silver mineralisation.
Detailed soil sampling was previously completed at Star Canyon over heavily altered and mineralised volcanic and sedimentary rocks.
Soil sampling highlights a very large cohesive gold anomaly in the eastern part of the Black Canyon claims, which extends for more than 2,300 metres along strike and approximately 900 metres across strike at >30ppb gold.
Highlights of the program so far include:
- All holes intersected variably altered silty to graphitic limestones;
- Quartz veining is present in most holes to varying degrees, often associated with strong silicification and the presence of arsenopyrite and pyrite;
- The nature of the alteration and mineralisation is consistent with Carlin-style epithermal mineralisation which is prominent in Nevada;
- Overburden thickness generally varies from <1.5 to 13 metres down-hole depth; and
- Oxidation was observed in all holes to varying depths of between 11 metres (35 feet) and 55 metres (175 feet) down-hole depths.
PXX will update the market when assays become available.