Announcement Date: 2022-08-30
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: PNX Metals Ltd.
Project name: Fountain Head
Location: Australia
Commodities: Gold
Highlight: Updated Resource Estimate for Deposit
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 an updated Mineral Resource Estimate (“MRE”) for the Glencoe Gold Deposit (“Glencoe”) (reported in accordance with the JORC Code, 2012). Glencoe is located 3 kilometres north of the Fountain Head Gold Project (“Fountain Head”) (Figure 1). Both gold deposits are contained within granted Mineral Leases (“ML”) 100% owned by PNX and situated in the Pine Creek region of the Northern Territory Glencoe is a critical part of PNX’s integrated gold, silver and zinc development strategy which is proposing to mine and process ore from four 100%-owned discrete deposits (Fountain Head and Glencoe (gold), Mt Bonnie and Iron Blow (zinc-gold-silver)), located on granted MLs in the Pine Creek region of the Northern Territory. MREs have been established for each of these deposits and a Pre-feasibility Study was released in mid-2021 (refer ASX release 17 June 2021) detailing the proposed development strategy.
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