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PNX Metals Ltd.
Summary
| Project: | Moline | |
|---|---|---|
| Deposit: | Moline, Tumbling Dice | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/19/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-12-2016: PNX Metals Ltd. announces an Exploration/Drilling Update report for its Moline, Tumbling Dice deposit at the Moline project. Drilling results incl. 30m @ 2.29g/t Au, 0.70% Zn from 78m. PNX Metals Limited (ASX: PNX) is pleased to advise that it | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andrew Bennett (Internal) | |
| ABSTRACT: | PNX Metals Limited (ASX: PNX) is pleased to advise that it has intersected gold and base metals mineralisation in its first drill program at the Moline Exploration Project (MLN1059), located less than 1.5km off the Kakadu Highway, and approximately 65km to the east of the Hayes Creek gold-silver-zinc Project in the Pine Creek region of the Northern Territory (Figures 1 and 5). The Moline Project comprises four key prospects: Moline, School, Tumbling Dice, and Hercules. A total of 12 RC (Reverse Circulation) holes were completed for 1,497 metres during November, two of which intersected high-grade gold mineralisation at the School prospect and were previously reported (see ASX release 2 December 2016). The drill program was designed to test three mineralised structures that were partly mined for oxide gold mineralisation in the early 1990s. PNX Managing Director James Fox said: “We are very pleased to have completed our first exploration drill program at Moline with immediate success in identifying new high-grade gold and base metals mineralisation. Three highly prospective areas were drill-tested, all exhibiting near-surface ore-grade mineralisation at potentially mineable widths. With the added potential for a base metals mineralised system at depth, the Moline Project shows strong synergies with the Hayes Creek Project. We look forward to further testing this area during the 2017 dry season and will use the period over the wet season to complete a full interpretation of all available information. | |
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