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PNX Metals Ltd.
Summary
| Project: | Hayes Creek | |
|---|---|---|
| Deposit: | Fountain Head | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Copper-Lead | |
| Date: | 7/23/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 23-7-2018: PNX Metals Ltd. announces an Exploration/Drilling Update report for its Fountain Head deposit at the Hayes Creek project. Drilling results incl. 3m @ 11.1g/t Au from 93m. PNX Metals Limited (ASX: PNX) is pleased to announce that the first batch | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Bennett (Internal) | |
| ABSTRACT: | PNX Metals Limited (ASX: PNX) is pleased to announce that the first batch of assays have been received from a maiden RC drilling campaign at its Fountain Head gold project, being the first target in an extensive regional exploration program aimed at identifying additional high value mineralisation to complement its Hayes Creek zincgold-silver development project (“Hayes Creek Project”) in the Pine Creek region of the Northern Territory. The recently acquired Fountain Head Mineral Leases (MLs) are located less than 15km from the Hayes Creek Project, and, as well as containing a number of high-grade gold prospects, provide the ideal location for the proposed Hayes Creek process plant1 . Thirty one RC holes for 2,610m (including pre-collars) have been completed along the Fountain Head anticline with assays from the 7 of the first 11 holes containing significant intercepts of gold (Table 1). These results highlight that the mineralised structures extend at least 300 metres outside of the historic mining area along the Fountain Head anticline to the North West (Figure 1). Mineralisation remains open to the North West and at depth indicating the potential for further mineralised extensions over at least a 1km strike extent. Twelve holes have been drilled to test this concept with these assays due over the next few weeks. | |
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