PolarX sweats on results from North American exploration

Mineral exploration company, PolarX has wrapped up a quartet of significant exploration programs in as many months at its Caribou Dome copper project in Alaska and its Humboldt-Range gold-silver project in Nevada. The company has confirmed visual mineralisation across a number of exploration programs and assays are now pending and will be highly anticipated across all four programs. At the Caribou Dome copper project in Alaska, the Perth-based company unveiled a handful of thick massive sulphide zones in the first three holes of a 1500 metre campaign aimed at testing a trilogy of new targets and providing a fresh batch of samples for metallurgical test work. Remarkably, the three holes each intersected a suite of 2m - 11m zones of potentially copper-bearing massive sulphides. The second set of pending assay results is also courtesy of the Caribou Dome project, where only a few months ago the explorer intersected finely disseminated native copper in four drill holes from a diamond drilling campaign. The company says the vein-hosted mineralisation currently stretches over a kilometre and that the discovery could grow the existing resource at Alaska Range, which houses both the Zackly deposit and Caribou Dome. The mineral resource at the Caribou Dome project currently weighs in at 2.8 million tonnes at an impressive 3.1 per cent copper. Importantly, mineralisation at the project is still open in all directions and the area contains high-grade surface mineralisation with copper grades going over 4 per cent. Meanwhile, at its Humboldt Range project in Nevada, PolarX completed two major sampling programs in preparation for its maiden drilling program. One of the sampling programs included the collection of channel samples of outcropping alteration and mineralisation associated with extensive quartz veins in the Star Canyon area. The alteration zones stretch across some 400m of strike length before being hidden by a thin blanket of soil cover. The company says any notable finds beneath the blanket could promote large tonnage copper of moderate grade. Meanwhile, the company is also awaiting assay results from several large gold-in-soil anomalies at its new Black Canyon tenure within its existing high-grade Humboldt Range project. Previous rock chip sampling in the region appears to bode well for PolarX with results as high as 512.7g/t gold being seen and complimented by multiple rock chip hits over 100g/t of the precious yellow metal. Interestingly, both the company’s Alaska Range copper project and its Humboldt Range gold-silver project in Nevada lie in a high-grade mineralisation belt known as the “Ring of Fire”. As PolarX waits on the assay results from a handful of projects, a solid set of results could set the company up for a frantic new year, with a scoping study in Alaska and a maiden drilling campaign in Nevada both on the cards. Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au