PolarX looking to grow shallow high-grade resource
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.”
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
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.
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.