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PolarX Ltd.
Summary
| Project: | Alaska Range | |
|---|---|---|
| Deposit: | Zackly | |
| Location: | United States | |
| Commodities: | Gold-Copper-Silver | |
| Date: | 9/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-9-2018: PolarX Ltd. announces an Exploration/Drilling Update report for its Zackly deposit at the Alaska Range project. Drilling results incl. 15.0m @ 2.3% Cu, 2.2g/t Au, 11.9g/t Ag. PolarX Limited (ASX: PXX) is pleased to announce that drilling contin | |
| Resources: | (Resource): 127Kt Cu, 213Koz Au, 1.5Moz Ag contained at Alaska Range project | |
| CP/QP: | [Overall Report]: Frazer Tabeart (Internal) | |
| ABSTRACT: | PolarX Limited (ASX: PXX) is pleased to announce that drilling continues to extend the boundaries of the known mineralisation at the Zackly copper‐gold deposit within its Alaska Range Project, further highlighting the potential for an increase in the JORC Resource. This zone of mineralisation is approximately 40m vertically below similar mineralisation previously reported for hole ZX‐18023. These two intersections were drilled between the current Resource and recently reported hole ZX‐18020, which is 850m along‐strike from the Resource and assayed 55m at 2.8g/t gold and 0.6% copper just 2.5m from surface (Figure 2). Assays for hole ZX‐18024 which drilled underneath ZX‐18020 are expected within the next 1‐ 2 weeks. Hole ZX‐18025 intersected high‐grade copper sulphide mineralisation in a magnetite‐skarn from 84.8m to 99.8m down‐hole depth. It addssubstantially to the growing discovery outside the existing Zackly Inferred Resource. Copper mineralisation occurs as disseminated, blebby and vein‐hosted chalcopyrite between an altered limestone and an altered basalt. This style of mineralisation remains consistent with previous Company observations and reports and further demonstrates the extensive potential of PolarX’s entire project area, of which Zackly forms only a small part. BUILDING ON EXISTING RESOURCE The current Zackly Inferred Resource stands at 41,000t of copper, 213,000oz of gold and 1.5Moz silver from surface (refer Table 1). It occurs over a strike length of 1km and it is expected to increase as a result of the current drilling program. Zackly remains open at depth and along strike in both directions. | |
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