For thousands of other reports visit RSC's Mineral Intellingence Map
PNX Metals Ltd.
Summary
| Project: | Moline | |
|---|---|---|
| Deposit: | School | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/5/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-12-2016: PNX Metals Ltd. announces an Exploration/Drilling Update report for its School deposit at the Moline project. Drilling results incl. 7m @ 11.9g/t Au from 115m. PNX Metals Limited (ASX: PNX) is pleased to advise that it has intersected high-grad | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andrew Bennett (Internal) | |
| ABSTRACT: | PNX Metals Limited (ASX: PNX) is pleased to advise that it has intersected high-grade gold mineralisation in its first two holes drilled 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 (Figure 1 and 3). A total of 12 RC (Reverse Circulation) holes were completed for 1,497 metres during November. The drill program was designed to test three mineralised structures that were partly mined for oxide mineralisation in the early 1990’s. Drilling to test the Hercules prospect remains incomplete with only one hole drilled to the north due to wet weather, PNX looks forward to completing this program in 2017. Results from the first two holes, being the deepest holes drilled to date (only approximately 50 metres below the historical open-pit) at the School Prospect have been received, with results from the remaining 10 holes at Moline and Tumbling Dice are due within the coming weeks. Mineralisation occurs in folded pyritic and veined sediments of the Mt Bonnie Formation (host to the Iron Blow and Mt Bonnie deposits (3.89mt @ 5.91g/t AuEq1 ) at the Hayes Creek project), with at least two main lodes observed, comprising a western and eastern lode. MORC002 intersected the eastern lode (Figure 2) and the best known grades of gold mineralisation recorded for the School Prospect. Mineralisation is open in all directions, providing significant scope for further exploration success. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report