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PolarX Ltd.

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Summary

Project:

Alaska Range

Deposit:Zackly
Location:United States
Commodities:Gold
Date:11/23/2017
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:23-11-2017: PolarX Ltd. announces an Exploration/Drilling Update report for its Zackly deposit at the Alaska Range project. Drilling results incl. 14.5m @ 2.5% Cu, 2.0g/t Au from 34.9m. PolarX (ASX: PXX) is pleased to report outstanding assaysfrom the fir
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Frazer Tabeart (Internal)
ABSTRACT:PolarX (ASX: PXX) is pleased to report outstanding assaysfrom the first 5 holesit drilled atthe Zackly copper‐ gold deposit within its Alaska Range Project (Figure 1, Figure 2 and Table A). A total of 13 holes were drilled, 11 of which were designed to twin or validate existing drill intersections and better define the deposit (Figure 1 and Table B). These initial assay results confirm the presence of high‐grade copper and gold mineralisation at the Zackly skarn deposit from near the surface. The assay grades are broadly consistent with or exceed those from drilling done in the early 1980s (refer to cross‐sections in Figures 3 and 4) upon which an historic resource of 1.5Mt at 2.9% copper and 4.5g/t gold was calculated (* refer notes on Page 6). PolarX drilled larger diameter core than the previous explorers at Zackly, meaning a greater level of sample confidence has been gained. Some of the new holes also measure mineralisation over significantly wider intercepts than the twinned historical holes. The drilling results to date highlight that the best mineralisation in the skarn generally occurs in the stratigraphicaly upper part of the skarn body near the faulted contact with the limestone, indicating stratigraphic and structural control to the mineralisation.

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