Announcement Date: 2022-10-17
Announcement Type: Scoping Study
Announcement Code: JORC
Company name: PolarX Ltd.
Project name: Alaska Range
Location: United States
Commodities: Silver,Copper
Highlight: Scoping Study result incl. Pre Tax NPV (7%) of USD $72M & IRR of 26%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: This scoping study is based on the 2017 Caribou Dome mineral resource estimate, an updated mineral resource estimate for Zackly and new metallurgical test work results for both deposits as detailed in this release. Project economics are most responsive to the copper price and copper recovery. Both can be enhanced further by infill and expansionary drilling and by improved metal recoveries via further metallurgical test-work. Significant resource expansion potential is evident at Caribou Dome where the most recent drilling (19m at 7% Copper) remains open at depth and along strike, and at Zackly which remains open at depth and immediately along strike to the east of the mineral resource. The Study outcomes fully justify additional investment on extension drilling at both deposits where an increase in mineral resources could significantly enhance projected returns. The Scoping Study referred to in this ASX release has been undertaken for the purpose of initial evaluation of a potential development of the Alaska Range Copper Gold Project in Alaska USA (“Alaska Range Project”). It is a preliminary technical and economic study of the potential viability of the Alaska Range Project. The Scoping Study outcomes, production target and forecast financial information referred to in the release are based on low level technical and economic assessments that are insufficient to support estimation of Ore Reserves. The Scoping Study is presented in US dollars to an accuracy level of +/- 35%.
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