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PNX Metals Ltd.
Summary
| Project: | Hayes Creek | |
|---|---|---|
| Deposit: | Iron Blow | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Copper-Lead | |
| Date: | 3/15/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 15-3-2017: PNX Metals Ltd. announces an Exploration/Drilling Update report for its Iron Blow deposit at the Hayes Creek project. Drilling results incl. 15.6m @ 12.25% Zn, 2.28g/t Au, 214g/t Ag, 2.02% Pb, 0.39% Cu from 64.2m. PNX Metals Limited (ASX: PNX) | |
| 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 received assays from a further 9 holes drilled (21 reported to date) as part of a 30 hole infill and extensional drill program designed to upgrade geological confidence at the Iron Blow VMS deposit (Figure 1). Iron Blow, along with the Mt Bonnie deposit, comprise the Hayes Creek zinc-gold-silver project in the Pine Creek region of the Northern Territory. All nine holes being reported intersected massive and disseminated sulphide mineralisation within two main zones; an eastern hanging-wall lode defined by its significant zinc-gold-silver mineralisation, and underneath, a broader western footwall lode. Drill holes IBRC030D and IBRC057 intersected thick lenses of both lodes in the northern part of the deposit, highlighted above. In addition IBRC052 intersected the western lode higher up-dip than previously tested (Figure 2). Grades are excellent and include spectacular silver mineralisation. PNX Managing Director James Fox said: “Iron Blow continues to report strong zones of zinc-gold-silver rich mineralisation. These recent results are significant, not just due to their excellent metals grades but that potentially mineable widths of mineralisation have been delineated at vertical depths of less than 40m below surface. Previous mining studies envisaged 100% underground mining; this new data may allow PNX to incorporate lower cost open-pit mining methods in the mining optimisation studies. The Iron Blow Mineral Resource modelling is nearing completion and this, along with the recent updated Mt Bonnie Resource Estimate and new metallurgical information will allow for completion of the fully funded Hayes Creek PFS by mid-2017.” | |
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