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PolarX Ltd.
Summary
| Project: | Alaska Range | |
|---|---|---|
| Deposit: | Zackly | |
| Location: | United States | |
| Commodities: | Gold-Copper-Silver | |
| Date: | 9/25/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-9-2018: PolarX Ltd. announces an Exploration/Drilling Update report for its Zackly deposit at the Alaska Range project. Drilling results incl. 46.7m @ 0.6% Cu, 3.1g/t Au, 3.3g/t Ag from 59m. PolarX Limited (ASX: PXX) is pleased to announce that drillin | |
| 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 results for hole ZX‐18024 indicate potential for a relatively flat‐lying, thick zone of near‐surface mineralisation 850m east of the Zackly copper‐gold deposit within its Alaska Range Project. The latest assays from hole ZX‐18024 confirm a 46.7m wide down‐hole interval from 37m depth containing 3.1g/t gold, 0.6% copper and 3.3g/t silver (Figures 1 and 2). This new hole also includes a higher‐grade zone of 21.7m containing 5.2g/t gold, 0.8% copper and 4.1g/t silver from 59m depth. This zone of mineralisation is approximately 40m down‐dip from the thick interval previously reported for hole ZX‐18020, which contained 55m at 2.8g/t gold and 0.6% copper just 2.5m from surface. A higher‐grade zone of 24.6m in hole ZX‐18020 contained 4.6g/t gold, 0.5% copper and 8.4g/t silver from 2.5m depth. These two intersections were drilled 850m along‐strike from the current Resource (Figure 1). FUTURE OPEN‐CUT MINING POTENTIAL The high gold grades and thick, sub‐horizontal geometry of this mineralisation could be suitable for low cost open‐pit extraction, subject to an economic resource being established through further drilling and feasibility studies. PolarX plans to expand this new zone both along strike and down‐dip with additional drilling. This could rapidly add many tonnes of nearsurface resource if the thickness and high‐ grades of mineralisation are maintained, justifying a formal feasibility study. Subject to futher drilling and feasibility study results, future mining could commence with an open‐cut mining operation on thisshallow, low‐angle mineralisation, prior to an underground operation to mine the high‐grade sub‐vertical mineralisation established in the current Resource and immediate extensions 350m to the east (as seen in holes ZX‐18023 and ZX‐ 18025). | |
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