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PNX Metals Ltd.
Summary
| Project: | Hayes Creek | |
|---|---|---|
| Deposit: | Iron Blow | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Copper-Lead | |
| Date: | 6/27/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 27-6-2019: PNX Metals Ltd. announces an Exploration/Drilling Update report for its Iron Blow deposit at the Hayes Creek project. Drilling results incl. 85.22m @ 4.19g/t Au, 309g/t Ag, 11.87% Zn, 1.94% Pb, 0.49% Cu from 115.88m. PNX Metals Limited (ASX: PN | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Bradley Ermel (Internal) | |
| ABSTRACT: | PNX Metals Limited (ASX: PNX) (“PNX”) is pleased to announce that all assay results have been received from diamond drilling at the Iron Blow VMS deposit. The Iron Blow and Mt Bonnie VMS deposits, along with the Fountain Head gold prospect collectively form the Company’s Hayes Creek zinc-gold-silver project (“Hayes Creek”) in the Pine Creek region of the Northern Territory. Three diamond drill holes were drilled down-dip to the mineralisation for approximately 650 metres at Iron Blow (Figure 1) with thick intervals of massive sulphide mineralisation intersected in both the eastern and western lodes further confirming the geological model. PNX Managing Director James Fox said: “We are very pleased to have commenced (locked-cycle) metallurgical test work on Iron Blow core. This is critical path work for the company at present as it supports marketing and offtake discussions and sets the final design parameters for the proposed process plant. We are also encouraged to see high-grade gold contained within predominantly oxide mineralisation at surface and the thick, massive sulphide intervals intersected by drilling are consistent with the geological model adding confidence to the Mineral Resource. The DFS is on schedule and continuing to demonstrate that Hayes Creek is a technically, environmentally and financially viable project.” | |
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