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PNX Metals Ltd.
Summary
| Project: | Hayes Creek | |
|---|---|---|
| Deposit: | Langleys | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Copper-Lead | |
| Date: | 9/19/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-9-2016: PNX Metals Ltd. announces an Exploration/Drilling Update report for its Langleys deposit at the Hayes Creek project. Drilling results incl. 2m @ 5.10 g/t Au from 72m. PNX Metals Limited (ASX: PNX) is pleased to advise that it has successfully c | |
| Resources: | (Not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Bennett (Internal) | |
| ABSTRACT: | PNX Metals Limited (ASX: PNX) is pleased to advise that it has successfully completed 27 holes for 1,826 metres of infill and extensional reverse circulation (RC) drilling at the Mt Bonnie VMS deposit, which forms part of its Hayes Creek gold-silver-zinc project in the Pine Creek region of the Northern Territory. Mineralisation was intercepted in all holes drilled at Mt Bonnie and is consistent with the current geological model. Based on visual indications of the rock chips and results from field portable XRF measurements, the drill program was expanded and several additional holes were drilled to test for a near-surface southerly extension to mineralisation. Assays results from this drill program are expected to be received from the end of September 2016 with an updated mineral resource expected by the end of the year. This will be a key component of the fully funded Hayes Creek pre-feasibility study (PFS) which is due for completion by mid-2017. Previous drilling at Mt Bonnie by PNX in 2015 generated excellent results (see ASX release 3 June 2015) where massive sulphide intersections returned consistent near-surface, high-grade, multi-element mineralization. PNX has also received all assay results from the Langleys gold prospect where a drill program was completed to test for depth extensions to gold mineralisation underneath the historic oxide pit | |
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