Announcement Date: 2021-11-25
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: PNX Metals Ltd.
Project name: Fountain Head
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 12m @ 1.39g/t Au from 45m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: PNX Metals Limited (ASX: PNX) (“PNX”, “the Company”) is pleased to announce further positive drill results from its latest 14 reverse circulation (RC) drill holes at the Glencoe gold deposit (“Glencoe”), which continues to build as the Company makes significant progress towards the near-term sequential development of its 100% owned Fountain Head gold and Hayes Creek gold-silver-zinc Projects. In a highly successful first drill program at Glencoe (refer ASX 14 September 2021), immediate extensions to near-surface gold mineralisation were delineated, extending the strike by more than 200 metres to the southeast of the current Mineral Resource Estimate (MRE). High-grade, near surface gold in rock-chips of up to 6.02g/t Au in TGU5467 were also previously reported in this area (refer ASX 28 October 2021 and Figures 1 and 2). Results from follow-up RC drilling reported in this release have extended the strike a further 80 metres to the east of the September drilling, and in-fill drill holes have demonstrated excellent continuity along strike for at least 450 metres from the historic North-Central pit. Importantly, several thicker near-surface zones of gold mineralisation were intersected, in particular in holes GLRC033, 34, and 35 (Figures 1-3).
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