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PNX Metals Ltd.
Summary
| Project: | Hayes Creek | |
|---|---|---|
| Deposit: | Fountain Head | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Copper-Lead | |
| Date: | 8/2/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 2-8-2018: PNX Metals Ltd. announces an Exploration/Drilling Update report for its Fountain Head deposit at the Hayes Creek project. Drilling results incl. 6m @ 2.05g/t Au from 2m. PNX Metals Limited (ASX: PNX) is pleased to announce that assays from a fur | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Bennett (Internal) | |
| ABSTRACT: | PNX Metals Limited (ASX: PNX) is pleased to announce that assays from a further three RC holes have been received from drilling at its Fountain Head gold project in the Pine Creek region of the Northern Territory. New significant results being reported from this batch of assays include: Fountain Head is the first target in an extensive regional exploration program aimed at identifying additional high value mineralisation to complement its Hayes Creek zinc-gold-silver development project (“Hayes Creek Project”). As part of the current drilling campaign, 31 RC holes for 2,610m (including pre-collars) have been completed along the Fountain Head anticline. Assays have been received from 14 holes, with 10 containing significant intercepts of gold (Table 1). Near-surface results received to date demonstrate that mineralised vein systems continue at least 600 metres to the north-west of the historic mining area along the Fountain Head anticlinal structure (Figure 1). Mineralisation still remains open to the north-west and at depth, indicating the potential for further mineralised extensions over at least a 1km strike extent. Assay results from a further 17 holes drilled to test this concept are expected to be received over the next few weeks along with assays from drilling adjacent to the existing mining areas. Drilling of three diamond tails from RC pre-collars will commence next week to target the potential down-plunge extension of high-grade gold mineralisation directly under the historic Fountain Head and Tally Ho open pits | |
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