PolarX looking to grow shallow high-grade resource

|

Published 19-MAY-2020 10:05 A.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

PolarX Limited (ASX:PXX) will be starting a significant drilling program in July to follow up the high-grade gold and copper intersections at the Zackly East prospect within its Alaska Range Project.

The small, initial drilling program at Zackly East returned hits grading up to 3.1 g/t gold and 0.6 per cent copper.

Zackly East sits just 800 metres from the Zackly Main deposit, where PolarX has outlined an Inferred Resource of 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver from surface.

This resource occurs over a strike length of just over 1000 metres, and the category and grades of the resource is outlined below.

Drilling program to test 600 metre Zackly East target

Mineralised drill intersections to the east of the resource, along with geological mapping and trenching to evaluate the potential 600 metre strike-length of the Zackly East skarn, indicate that the resource inventory as outlined below may be increased as a result of future drilling programs.

A program of 15 to 20 shallow drill holes to an average depth of 150 metres each has been planned to test the 600 metre long Zackly East target which is shown below.

Drilling will commence on the existing section containing holes ZX-18020 and ZX-18024 to determine down-dip continuity.

Step out cross-sections will be drilled on 50 metre and 100 metre 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 commence in July and it should take approximately eight weeks using two drill rigs.

PolarX managing director Frazer Tabeart highlighted the immense potential to grow the overall Zackly Resource in saying, “Zackly Main already hosts a significant shallow, high-grade resource and the initial results from Zackly East highlight the strong potential to grow this inventory.

“We aim to grow Zackly to a size where it could underpin a standalone project or tie into any exploration success at the nearby Mars and Saturn porphyry targets.

“This strategy gives us options which we can pursue in our own right or with a joint venture at Mars and Saturn.”



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.

 

Discover Small Cap
Biotech Stocks

Join thousands of other Investors following our stock commentary for Free

X