Announcement Date: 2022-07-05
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: PolarX Ltd.
Project name: Humboldt Range
Location: United States
Commodities: Gold,Silver
Highlight: Drilling results incl. 9.1m @ 124.36g/t Au, 48.6g/t Ag from 27.4m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: PolarX Limited (ASX: PXX, “PolarX” or ‘the Company”) is pleased to report outstanding assays which confirm bonanza gold and silver grades in mineralised veins associated with Carlin style mineralisation at the Star Canyon prospect within its Humboldt Range Project in Nevada, USA. The coincidence of the two mineralisation styles within the one project demonstrates the potential for high grade veins to significantly increase the metal inventory of a large tonnage Carlin style resource that may be present and that could be amenable to a bulk mining operation. The maiden RC drill program at Star Canyon consisted of 10 Reverse Circulation (RC) percussion holes to test the strong gold and silver anomaly identified from PolarX’s soil sampling program (Figure 2, Tables 1 and 2 and see ASX announcement 16 February, 2022). Drill holes were largely set to west dipping inclinations due to the angle of the terrain to test the bulk tonnage potential of the anomaly. The RC drilling program has only tested an area of 600m x 400m within the soil anomaly which measures 2,500m x 1,000m. The Star Canyon prospect lies with the Black Canyon claims at the northern end of Humboldt Range and is less than 3km from the currently operating Florida Canyon Mine, which hosts 5Moz gold (see Figure 6) and the Rochester Mine is about 20km south of the Fourth of July claims.
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