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PNX Metals Ltd.
Summary
| Project: | Hayes Creek | |
|---|---|---|
| Deposit: | Iron Blow | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Copper-Lead | |
| Date: | 1/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 23-1-2017: PNX Metals Ltd. announces an Exploration/Drilling Update report for its Iron Blow deposit at the Hayes Creek project. Drilling results incl. 33.6m @ 2.34g/t Au, 245.8g/t Ag, 6.28% Zn, 1.45% Pb, 0.25% Cu from 180.0m. 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 10 holes drilled as part of a 30 hole infill and extensional drill program at the Iron Blow VMS deposit (Figure 1). Iron Blow, along with the Mt Bonnie deposit, comprise the Hayes Creek gold-silver-zinc project in the Pine Creek region of the Northern Territory. Two zones of massive sulphide mineralisation were intercepted in both IBDH039 and IBDH041. PNX Managing Director James Fox said: “We are pleased to have identified a near surface extension to the western lode at Iron Blow. This is new mineralisation that extends to surface and lies outside of the existing Mineral Resource. The main massive sulphide mineralisation continues to report strong zinc, gold and silver grades. The Iron Blow Mineral Resource is to be updated in the coming months, which, along with the upgraded resource to be completed shortly at Mt Bonnie, will allow for completion of the Hayes Creek PFS by mid-2017.” The Hayes Creek Project is located in a favourable mining jurisdiction in the Pine Creek region of Northern Territory, less than two hours by road from Darwin (Figure 3). The PFS will expand on the Scoping Study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for the Company. The development strategy includes the use of existing infrastructure, designed to boost economics and reduce Project risk. | |
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