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PNX Metals Ltd.
Summary
| Project: | Hayes Creek | |
|---|---|---|
| Deposit: | Iron Blow | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Copper-Lead | |
| Date: | 3/30/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 30-3-2017: PNX Metals Ltd. announces an Exploration/Drilling Update report for its Iron Blow deposit at the Hayes Creek project. Drilling results incl. 7.5m @ 12.77% Zn, 1.89g/t Au, 326g/t Ag, 2.82% Pb, 0.355 Cu from 210.7m. 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 now received all assays from a 30 hole infill and extensional drill program designed to upgrade geological confidence at the Iron Blow VMS deposit. 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. The information generated from this drill program will now allow the resource upgrade to be finalised with the aim of converting the majority of the existing resource estimate to the Indicated category. Resource wire framing has been completed with interpolation now underway and completion of the resource estimate is expected in April. A detailed mining model will now also be generated for inclusion in the Preliminary Feasibility Study (PFS). The assay results continue to delineate two main massive sulphide zones; an eastern hanging-wall lode defined by its significant zinc-gold-silver mineralisation, and underneath, a broader western footwall lode. Several other narrow gold-only zones have been identified, between the massive sulphide lodes and in the hanging wall. PNX Managing Director James Fox said: “The aim of the drill program was to provide sufficient geological information to upgrade the majority of the existing resource estimate to the, (higher confidence), Indicated category for inclusion in the Hayes Creek PFS, whilst identifying opportunities for optimising the mine plan and future resource growth. PNX will also look to incorporate lower cost open-pit mining methods along with the recent updated Mt Bonnie Resource Estimate and new metallurgical information in the mining optimisation studies to be included in the PFS which is due for completion mid-2017.” | |
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