Company
ASX:PXX
PolarX Ltd (ASX:PXX) is an Australian exploration and development company with a project portfolio exclusively in the United States. The primary interest is exploration and development of the Alaska Range Project, which contains the Caribou Dome Project and the Stellar Project. PolarX also has an interest in the high-grade Humboldt Range Gold-Silver Project in northwest Nevada, which comprises 177 lode mining claims and complements the Alaskan project, providing year-round exploration.
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The Humboldt Range project will complement the company’s Alaska Range Project, providing a longer field season for the company via access to another high-quality project in a Tier-1 jurisdiction.
The option gives PolarX a 120-day exclusive period to finalise technical and legal due diligence on the project.
Assays returned from 2020 drilling reveal high-grade gold and copper mineralisation at Zackly East prospect within the Alaska Range project and extend mineralisation by a further 200 metres.
Latest assays from the Alaska Range project have extended the length of the Zackly East discovery to 320 metres with another 2 kilometres of geologically similar structure to be tested.
Rare earths & specialist minerals
The Caribou Dome Deposit forms part of the company’s Alaska Range Project and contains an existing mineral resource estimate of 2.8 million tonnes at 3.1% copper with about 60% of the mineral resource occurring within 150 metres of surface.
The company recently completed a 23 hole, 3,131 metres core drilling program at its Zackly East gold-copper discovery in Alaska.
The recent drilling results from the Zackly East prospect are all outside the existing JORC resource estimate of 213,000 ounces of gold, 41,000 tonnes of copper and 1.5 million ounces of silver.
The company aims to extend known mineralisation a further 300 metres east of the existing drilling to take the overall strike length of Zackly East to 1.2 kilometres
A 3,000-metre drilling program has started at Zackly East, following up on the thick, high-grade gold and copper mineralisation intersected in holes drilled at the end of the 2018 field season.
Rare earths & specialist minerals
The SPP follows a $3.76 million placement which raised funds for drilling at the Zackly East gold-copper skarn.
A 3,000-metre drilling program at the Alaska Range Project is set to begin next week with rigs and its geological support team due to arrive on-site by July 15.
A contract for a 3,000-metre core drilling program has been executed with rigs and geological support team scheduled to arrive on-site by July 15.
The company’s SPP follows a $3.76 million placement which raised funds for drilling at the Zackly East gold-copper skarn.
The SPP follows a $3.76 million placement which raised funds for drilling at the Zackly East gold-copper skarn.
The company is aiming to increase the resource at its Alaska Range Project through drilling.
Funds from the placement will be used to undertake drilling at Zackly East, following up on thick, high‐grade gold and copper mineralisation.
Rare earths & specialist minerals
The funds will be used to undertake a drilling program of 15‐20 shallow holes at Zackly East, following up on thick, high‐grade gold and copper mineralisation.
The company’s Zackly East prospect is 800 metres from the existing Zackly Main resource of 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver.
Zackly East is just 800 metres from existing Zackly Main Resource of 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver from surface.
The Alaska Range Project contains the Caribou Dome Project and the Stellar Project, covering 262 square kilometres with around 35 kilometres strike length containing extensive copper‐and gold‐in‐soil anomalism.
