PNX Metals begins gold, base metals drilling at Moline Project
The company’s focus is on its four projects located in the Pine Creek Region.
Company
ASX:PNX
PNX Metals Ltd (ASX:PNX) has a large tenement portfolio containing a mix of gold, silver and zinc assets in the Pine Creek region of the Northern Territory. Total contained gold in PNX’s projects to date is close to 400,000 ounces. The advanced Fountain Head Project hosts a mineral resource of 2.94 million tonnes at 1.7 g/t gold for 156,000 ounces of gold.
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The company’s focus is on its four projects located in the Pine Creek Region.
The study has valued a future mining operation at $133 million.
Multiple exploration drilling programs are planned for July.
Results show improvement in overall recoveries from initial test-work.
Hayes Creek contains the Iron Blow and Mt Bonnie zinc-gold-silver deposits.
A resource upgrade for the Iron Blow deposit is expected shortly.
Final assay results from the 30 hole program have been received.
PNX has received assays from another 9 holes in its 30 hole program.
The halt will remain in place until Wednesday 15th March 2017.
James Fox outlined upcoming news flow including a pending resource upgrade.
Find out more from Trevor Woolfe at Proactive's CEO Spotlight Sessions.
Find out more from Paul Donaldson at Proactive's CEO Spotlight Sessions.
Find out more from James Fox at Proactive's CEO Spotlight Sessions.
90% of the resource has been converted to the Indicated category.
PNX’s focus is on its four projects located in the Pine Creek Region.
PNX is expecting two resource upgrades over the coming months.
Successful drill results will now be used to estimate a new resource.
Results from all remaining holes are likely from the end of January 2017.
Further analysis and modelling of the data will proceed.
PNX has now elected to proceed to the second stage of the farm-in.