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PNX Metals Ltd.

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Summary

Project:

Hayes Creek

Deposit:Fountain Head
Location:Australia
Commodities:Gold
Date:7/17/2020
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:17-7-2020: PNX Metals Ltd. announces an Exploration/Drilling Update report for its Fountain Head deposit at the Hayes Creek project. Drilling results incl. 5.75m @ 1.74g/t Au from 168.5m. PNX Metals Limited (ASX: PNX) (“PNX”, “the Company”) is pleased to
Resources:(Resources, I+I): 2.94Mt @ 1.7g/t Au (156koz Au)
CP/QP:[Overall Report] Charles Nesbitt (Internal)
ABSTRACT:PNX Metals Limited (ASX: PNX) (“PNX”, “the Company”) is pleased to provide an update on the Fountain Head gold Project development (“Project”) located in the Pine Creek region of the Northern Territory, including the receipt of final assays from diamond drill hole FHDD181. Diamond holes FHDD180 and FHDD181 were drilled earlier in 2020 on the margins of the proposed open pit at the Project to provide geotechnical information for mine design and to capture new geological data from the southeastern portion of the Tally Ho lode. FHDD181 intersected the south-eastern end of the Tally Ho lode and geological logging identified occurrences of coarse visible gold from a down hole depth of 145m to 188.14m. “Whole core” samples to include the visible gold zones (Figure 1) were assayed and a number of sample repeats were taken providing the weighted average results as reported (Table 1) (see also attached JORC Tables for further information).

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