Drilling underway at PolarX’s Alaskan gold-copper prospect

By Jonathan Jackson. Published at Jul 24, 2020, in Mining

PolarX (ASX:PXX) has begun a 3000 metre drilling program at its high priority Zackly East gold-copper prospect in Alaska.

The program, which is progressing well, is designed to follow up on the thick, high-grade gold and copper mineralisation intersected in holes drilled at the end of the 2018 field season.

These holes returned:

  • ZX-18020 (55m @ 2.8g/t Au + 0.6% Cu) and
  • ZX-18024 (47m @ 3.1g/t Au + 0.6% Cu).

Geological mapping and trenching to evaluate the potential 600m strike-length of the Zackly East skarn conducted at this time, indicated that the mineral resource inventory could be increased as a result of the planned drilling program.

Two diamond drill rigs were recently mobilised at the Zackly East Skarn, which occurs just 800m from the Zackly Main Skarn deposit. It is here that PolarX has outlined an Inferred Resource of 41,000t of copper, 213,000oz of gold and 1.5Moz silver from surface.

Alaska Range Project Existing Resource Estimates (JORC 2012), 0.5% Cu cut-off.
Alaska Range Project Existing Resource Estimates (JORC 2012), 0.5% Cu cut-off.

This resource occurs over a strike length of 1,050m.

Long-section view of the Zackly Skarn system looking towards the north.

The approximate 3,000m of drilling to be conducted by PolarX, comprises of 15-20 drill holes to evaluate a 500-600m strike length of the structure.

Drilling has commenced on the existing section containing the holes mentioned above and will determine down-dip continuity. Furthermore, step out cross-sections will be drilled on 50m and 100m centres with precise details to be finalised on a hole by hole basis using information gleaned from the previous drill holes.

Drilling is expected to take approximately six to eight weeks.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

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