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PNX Metals Ltd.
Summary
| Project: | Hayes Creek | |
|---|---|---|
| Deposit: | Mount Bonnie | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Copper-Lead | |
| Date: | 11/3/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 3-11-2016: PNX Metals Ltd. announces an Exploration/Drilling Update report for its Mount Bonnie deposit at the Hayes Creek project. Drilling results incl. 10m @ 2.22g/t Au, 21g/t Ag, 4.86% Zn, 0.27% Pb, 0.51% Cu from 46m. PNX Metals Limited (ASX: PNX) is | |
| 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 assay results from a further 12 of 27 reverse circulation (RC) and diamond holes drilled at the Mt Bonnie VMS deposit (Figure 1). Assays have now been received from 25 holes in total from this drill program (see also ASX releases 6 and 25 October 2016). Mt Bonnie is part of the Hayes Creek gold-silver-zinc project in the Pine Creek region of the Northern Territory. A new near-surface southerly extension to mineralisation has been discovered that extends approximately 100 metres beyond the limits of previous drilling to directly beneath the Southern Gossan (Figure 1), and remains open to the south and at depth. Two distinct zones have been defined, an upper primarily oxide zone with elevated gold, silver, and lead, as identified in both MBRC052 and MBRC053 (Figure 2): 6m @ 2.61g/t Au, 345g/t Ag, 0.22% Zn, 3.20% Pb, 0.40% Cu (6.5g/t AuEq/10.2% ZnEq) from 3m (MBRC053) And a lower zinc and gold rich zone where the mineralisation is hosted by disseminated sulphides within strongly carbonate altered sediments also identified in both MBRC052 and MBRC053 (Figure 2): 10m @ 2.22g/t Au, 21g/t Ag, 4.86% Zn, 0.27% Pb, 0.51% Cu (4.5g/t AuEq/6.9% ZnEq) from 46m (MBRC052) As this whole area sits outside the limits of the existing resource boundary, four new holes are planned, as well as the deepening of one existing hole, MBRC050. This new mineralisation will be modelled for use in the updated mineral resource estimate and in any expanded open-pit scenario for inclusion in the fully-funded Hayes Creek Pre-Feasibility Study (PFS). | |
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