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PNX Metals Ltd.
Summary
| Project: | Hayes Creek | |
|---|---|---|
| Deposit: | Fountain Head | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 20-12-2018: PNX Metals Ltd. announces an Exploration/Drilling Update report for its Fountain Head deposit at the Hayes Creek project. Drilling results incl. 6.67m @ 11.35g/t Au from 201.15m. PNX Metals Limited (ASX: PNX) is pleased to announce that new as | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Bennet (Internal) | |
| ABSTRACT: | PNX Metals Limited (ASX: PNX) is pleased to announce that new assay results containing high-grade gold have been received from diamond drilling to test extensions to the mineralised vein systems associated with the Fountain Head and Tally Ho gold lodes at its Fountain Head Gold Project in the Pine Creek region of the Northern Territory. These latest assay results indicate that high-grade gold mineralisation exists along strike and down dip of the known mineralised structures at the Fountain Head and Tally-Ho lodes. Importantly mineralisation exists outside of the known zones that had been modelled prior to drilling (Figure 1), and below historic mining which was limited to approximately 60m below surface. The mineralisation intersected at Fountain Head contains coarse and ‘nuggety’ gold, and as such can be highly variable in grade and width. It is evident that detailed structural analysis will be required for accurate assessment of grade continuity, to identify potentially larger “trap sites” for mineralisation, and to assist with resource estimation. This work, along with additional screen fire assays, is underway and is planned to be completed prior to the commencement of new drilling during the 2019 dry season. Significant drilling results from the recent program are summarised in (Table 1) and include | |
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