http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Wed, 26 Jul 2017 04:56:01 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - PNX Metals begins gold, base metals drilling at Moline Project ]]> http://www.proactiveinvestors.com.au/companies/news/180951/pnx-metals-begins-gold-base-metals-drilling-at-moline-project-180951.html PNX Metals Ltd (ASX:PNX) has commenced a 15-hole reverse circulation drill program testing three highly prospective targets at the Moline Project in the Pine Creek region of the Northern Territory.

These prospects had returned significant intersections of gold and base metals mineralisation in 2016.

The historic mining area at Moline has strong synergies with PNX’s Hayes Creek Project, where the company recently completed a preliminary feasibility study (PFS).

The PFS confirmed a strong potential to establish a low-cost, high-margin zinc and precious metals mine.

PNX’s aim is to delineate high-value gold and/or base metals deposits at Moline which can be treated through the proposed Hayes Creek processing plant, or through other milling infrastructure in the region.

James Fox, managing director, commented: “PNX’s exploration team have generated a number of compelling targets within our large exploration tenure in the Pine Creek region.

“The results of this drill program at Moline are keenly anticipated given the high-grade gold and base metals mineralisation that was intercepted in the 2016 programs”

Drill program details

Drilling is underway at the School Prospect where previous drilling by PNX intersected significant gold mineralisation less than 50 metres below the historical pit.

A further four holes are also planned to test a new target at Redback which is located immediately along strike from the School Prospect.

In addition to the 15 holes to be drilled at the Moline Project, PNX is finalising approvals to drill 15 holes at the Cookies Corner Prospect within its Burnside Project.

Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Burnside, Moline and Chessman Projects form part of PNX’s farm-in agreement with a subsidiary of Kirkland Lake Gold Ltd (TSE:KL).

PNX currently holds a 51% interest (excluding uranium) in these project areas, covering circa 1,700 square kilometres in the Pine Creek region of the Northern Territory.

The company has proceeded to the second stage of the farm-in whereby it can increase its interest in each of the tenements to 90% (excluding uranium) with expenditure of $2 million by 15 December 2018.

Circa $1 million of this has been already spent.

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Mon, 17 Jul 2017 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180951/pnx-metals-begins-gold-base-metals-drilling-at-moline-project-180951.html
<![CDATA[News - PNX Metals study confirms high-value zinc mine ]]> http://www.proactiveinvestors.com.au/companies/news/180737/pnx-metals-study-confirms-high-value-zinc-mine-180737.html PNX Metals (ASX:PNX) has received results from its pre-feasibility study confirming a low cost, high-value zinc and precious metals mine at the Hayes Creek Project in the Northern Territory.

Results outline a robust zinc and precious metals project forecast to generate net smelter revenues of $628 million over a 6.5-year mine life.

The $266 million pre-tax net cash flow estimated over the life of mine (LoM) results in a net present value (NPV) of $133 million.

James Fox, managing director, commented: “The low upfront capital requirement of less than $60 million will enable the Project to produce in-demand, high-value zinc and precious metals concentrates over an initial 6.5 year period.

“The project is expected to yield a high rate of return resulting in rapid investment payback and a low level of risk appropriate to a junior developer.”

Study results

The proposed development is based on a steady state 450,000 tonnes per annum processing rate with ore sourced from initial open pit mining operations at Mt Bonnie and subsequent underground mining operations at Iron Blow.

In total, circa 3 million tonnes of ore is forecast to be processed over an initial 6.5 year LoM of which 98% is classified as Indicated Mineral Resources and only 2% classified as Inferred.

The study assumes construction of a purpose built processing plant with crushing, grinding, and flotation circuits to generate two valuable product streams, a zinc concentrate and a precious metals concentrate.

The concentrates will be trucked to the Port of Darwin and then shipped to international markets for sale and smelting and refining.

Financial summary

Estimated project financial returns include:

- Total net smelter revenue: $628 million;
- Pre-tax net cash flow: $266 million;
- Annual average pre-tax net cash flow: $41 million;
- Upfront capex cost: $58 million;
- Payback period: 15 months;
- Net present value (NPV): $133 million; and
- Internal rate of return (IRR): 73%. 

Taking it to the next level

Given these outcomes, the PNX board has resolved to proceed immediately with a definitive feasibility study.

The baseline studies relating to long lead-time items such as the approvals process already underway.

Completion of the definitive feasibility study will require and is subject to further funding and the Company is evaluating a number of options in this regard.

Analysis

The study results confirm the project to be a high value, relatively low risk and technically strong development opportunity for PNX.

The project contains an attractive mix of commodities with a strong outlook, and significant project upside if prices are higher than forecast.

Significant near-mine exploration potential exists where discovery and delineation of any additional economic resources would further enhance the value of the project.

Background

The Mt Bonnie and Iron Blow zinc-gold-silver deposits form part of the Hayes Creek Project and are located less than 3 kilometres apart on granted mineral leases.

An updated JORC Resource was reported for Mt Bonnie in February 2017 and for Iron Blow in May 2017.

Collectively the Hayes Creek Project hosts a total Indicated (84.7%) and Inferred (15.3%) JORC Resources of 4.1 million tonnes containing 177,200 tonnes of zinc, 238,000 ounces of gold, 16.2 million ounces of silver, 37,000 tonnes of lead, and 10,050 tonnes of copper.

The PFS expands on the scoping study completed in March 2016.

The Hayes Creek Project is located in a favourable mining jurisdiction in the Pine Creek region of Northern Territory, less than two hours by road from Darwin.

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Wed, 12 Jul 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/180737/pnx-metals-study-confirms-high-value-zinc-mine-180737.html
<![CDATA[News - PNX Metals commences exploration at gold and base metal targets ]]> http://www.proactiveinvestors.com.au/companies/news/179275/pnx-metals-commences-exploration-at-gold-and-base-metal-targets-179275.html PNX Metals (ASX:PNX) has commenced exploration field work at the Burnside and Moline exploration project areas in the Pine Creek region of the Northern Territory.

The company’s aim is to delineate high-value, highly profitable gold or base metals deposits which can be treated through the process plant proposed for the Hayes Creek project or through existing free-gold milling infrastructure.

21 reverse circulation holes are planned to commence early July at the Moline project where PNX is aiming to extend gold and base metals sulphide mineralisation identified in 2016.

PNX also plans to drill 15 reverse circulation holes in late July, subject to approvals, at the Cookies Corner gold prospect located within the Burnside Project.

James Fox, managing director, commented: “Drilling at the Moline project where we are aiming to extend the excellent gold and base metals sulphide mineralisation intersected in late 2016 and drilling at the new, large Cookies Corner gold anomaly has the potential, if successful, to create substantial value for PNX shareholders.”


Exploration targets

Drilling at Moline will target the School, Moline, Tumbling Dice and Redback prospects.

At the School prospect PNX drilling intersected significant gold mineralisation only 50 metres below the historical pit:

- 9 metres at 2.66 g/t gold from 68 metres in the western lode; and
- 7 metres at 11.89 g/t gold from 115 metres in the eastern lode including 3 metres at 23.79 g/t gold.

At the Moline and Tumbling Dice prospects, PNX intersected zinc-gold-silver-lead rich sulphides which remain open down-dip and along strike, including:

- Moline: 2 metres at 4.66 g/t gold, 177 g/t silver, 4.92% zinc, and 4.41% lead from 89 metres; and
- Tumbling Dice: 30 metres at 2.29g/t gold and 0.70% zinc from 78 metres including 3 metres at 6.58 g/t gold.

The Cookies Corner gold prospect is a large 1 kilometre in length gold in soils anomaly located 40 kilometres north-west of Hayes Creek and forms part of the Burnside project.

Limited but encouraging historical exploration features 3 metres at 19.7 g/t gold from 3 metres depth and 29.3 g/t gold rock chip assays.


Hayes Creek aerial survey

During July, PNX will fly an airborne geophysical survey over the Hayes Creek project area, which will include the new Margaret volcanogenic massive sulphide (VMS) prospect.

The survey will assist with identifying extensions to existing mineralisation at the Mt Bonnie and Iron Blow deposits, and new targets with VMS potential.

The Margaret prospect is located less than 1 kilometre from Iron Blow and 3 kilometres from Mt Bonnie VMS deposits.

Fieldwork has defined a large, 1 kilometre in length lead-zinc-gold in soils anomaly.


Hayes Creek pre-feasibility study due shortly

The Mt Bonnie and Iron Blow zinc-gold-silver deposits form part of the Hayes Creek Project and are located less than 3 kilometres apart on granted mineral leases.

An updated JORC Resource was reported for Mt Bonnie in February 2017 and for Iron Blow in May 2017.

Collectively the Hayes Creek Project hosts a total Indicated (84.7%) and Inferred (15.3%) JORC Resources of 4.1 million tonnes containing 177,200 tonnes of zinc, 238,000 ounces of gold, 16.2 million ounces of silver, 37,000 tonnes of lead, and 10,050 tonnes of copper.

The PFS will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.

The Hayes Creek Project is located in a favourable mining jurisdiction in the Pine Creek region of Northern Territory, less than two hours by road from Darwin.

The development strategy includes the use of existing infrastructure, designed to boost project economics and reduce project risk.

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Thu, 15 Jun 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/179275/pnx-metals-commences-exploration-at-gold-and-base-metal-targets-179275.html
<![CDATA[News - PNX Metals completes metallurgical optimisation test work ]]> http://www.proactiveinvestors.com.au/companies/news/178940/pnx-metals-completes-metallurgical-optimisation-test-work-178940.html PNX Metals (ASX:PNX) has completed detailed metallurgical optimisation test-work at its Iron Blow and Mt Bonnie zinc-gold-silver deposits at its Hayes Creek Project in the Northern Territory.

Test work was completed resulting in an improvement in overall recoveries from initial test-work, de-risking metallurgical aspects of the project.

PNX will now move forward with finalising the pre-feasibility study which is on schedule for completion mid-2017.

James Fox, managing director, commented: “We are very pleased to have reached this major milestone in completing the detailed metallurgical optimisation test-work at Hayes Creek. Recoveries to concentrates of the payable metals, in particular zinc, have exceeded our expectations.

“Positive feedback has been received as to the marketability of Hayes Creek concentrates which indicates that they are readily saleable and in demand as high-value products under standard commercial payment terms.”


Metallurgy details

The results of the overall plant recovery to concentrates were:

- Zinc: 89%;
- Lead: 57%;
- Silver: 77%; and
- Gold: 54%.

The finalisation of this test-work and analysis is an important milestone as it demonstrates that:

- The proposed flotation process plant is capable of recovering significant value from the Hayes Creek Resources through the production of a zinc concentrate and precious metals concentrate;
- The overall payable metals in concentrates based on standard commercial terms are at the upper end of expectations, and have been confirmed as being readily saleable and in demand as high-value products;
- The potential for revenue to be derived from the lead contained in the precious metals concentrates previously not considered in financial modelling also provides additional revenue upside; and
- All deleterious elements are within acceptable concentrations grade recovery curves have been developed for both the zinc and precious metals concentrates indicating the potential for future optimisation of recoveries and/ or grade with gold being a particular focus.


Pre-feasibility study

The Mt Bonnie and Iron Blow deposits form part of the Hayes Creek Project and are located less than 3 kilometres apart on granted mineral leases.

An updated JORC Resource was reported for Mt Bonnie in February 2017 and for Iron Blow in May 2017.

Collectively the Hayes Creek Project hosts a total Indicated (84.7%) and Inferred (15.3%) JORC Resources of 4.1 million tonnes containing 177,200 tonnes of zinc, 238,000 ounces of gold, 16.2 million ounces of silver, 37,000 tonnes of lead, and 10,050 tonnes of copper.

The PFS will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.

The Hayes Creek Project is located in a favourable mining jurisdiction in the Pine Creek region of Northern Territory, less than two hours by road from Darwin.

The development strategy includes the use of existing infrastructure, designed to boost economics and reduce project risk.

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Thu, 08 Jun 2017 11:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178940/pnx-metals-completes-metallurgical-optimisation-test-work-178940.html
<![CDATA[News - PNX Metals delivers resource milestone on way to Preliminary Feasibility Study ]]> http://www.proactiveinvestors.com.au/companies/news/177205/pnx-metals-delivers-resource-milestone-on-way-to-preliminary-feasibility-study-177205.html PNX Metals (ASX:PNX) has delivered yet another milestone at the company's wholly-owned Hayes Creek Project, located in the Northern Territory.

Total resources at the project now exceed 1.1 million ounces gold equivalent, or another view is 445,000 tonnes of zinc equivalent.

This is derived from: 4.1 million tonnes at 10.93% zinc equivalent or 8.47g/t gold equivalent (4.35% zinc, 1.81g/t gold, 124 g/t silver, 0.91% lead and 0.25% copper.

The confidence of the resource is high, with 85% in the Indicated category.

The resource came following an upgrade at the Iron Blow deposit, which occurs from surface to around 270 metres.

Detailed open-pit and underground mining studies underway.


James Fox, managing director, commented:

"The completion of this favourable Resource update at Iron Blow is another important achievement in the development of the Hayes Creek Project which now contains over 1.1 million gold equivalent or 445,000 tonnes zinc equivalent.

"Over 84% of the Mineral resources at the Hayes Creek Project have been categorised as Indicated.

"Detailed open-pit and underground mining studies are underway.

"The close proximity of the project to essential services and infrastructure, and high zinc and gold equivalent grades make for a potentially low cost, high margin operation that features an attractive mix of readily extractable commodities for investors.

"We look forward to finalising the studies required for the PFS which is on schedule for mid-2017."

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Wed, 03 May 2017 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177205/pnx-metals-delivers-resource-milestone-on-way-to-preliminary-feasibility-study-177205.html
<![CDATA[News - PNX Metals has a busy June quarter ahead ]]> http://www.proactiveinvestors.com.au/companies/news/177026/pnx-metals-has-a-busy-june-quarter-ahead-177026.html PNX Metals (ASX:PNX) plans to achieve a number of milestones this quarter including completing its pre-feasibility study at the Hayes Creek Project in the Northern Territory.

Hayes Creek contains the Iron Blow and Mt Bonnie zinc-gold-silver deposits, located less than 3 kilometres apart and situated on granted wholly owned mineral leases.

An updated mineral resource estimate for Iron Blow is expected to be completed in early May 2017.

This along with metallurgical optimisation test work will be incorporated to complete the pre-feasibility study expected in June.

Furthermore, PNX expects to commence work on a maiden mineral resource estimate at its Moline exploration project, which is also in the Pine Creek region of the Northern Territory.


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Mt Bonnie resource was updated in February 2017 to 1.55 million tonnes at 3.8% zinc, 1.34g/t gold, 127g/t silver, 1.1% lead and 0.2% copper.

An updated resource for the larger Iron Blow deposit is expected in the coming weeks.


June quarter activities

Planned activities for the current June quarter focus on completing the Hayes Creek pre-feasibility study and planning for the 2017 dry season exploration program.

Hayes Creek pre-feasibility study

- Completion of JORC 2012 resource estimate for Iron Blow deposit;
- Ongoing metallurgical optimisation test work on Mt Bonnie and Iron Blow ore;
- Submission of environmental documents for the Hayes Creek Project; and
- Ongoing site selection, geochemistry, hydrogeology and flora and fauna surveys.

Planning for 2017 dry season work program

- Follow up drilling at Moline to extend existing mineralisation and test new soil anomalies defined by previous PNX fieldwork;
- Commence mineral resource estimation at Moline; and
- Ground geophysical testing of selected geochemical anomalies to pinpoint new regional gold and base metals drill targets.

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Fri, 28 Apr 2017 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177026/pnx-metals-has-a-busy-june-quarter-ahead-177026.html
<![CDATA[News - PNX Metals receives more high-grade results in final assay batch ]]> http://www.proactiveinvestors.com.au/companies/news/175643/pnx-metals-receives-more-high-grade-results-in-final-assay-batch-175643.html PNX Metals (ASX:PNX) has received more significant results from its final batch of assays at the Iron Blow deposit within the Hayes Creek gold-silver-zinc project in the Northern Territory.

The 30 hole infill and extensional drill program was designed to upgrade geological confidence at Iron Blow.

Highlights from the final assays include 7.5 metres at 19.1% zinc equivalent from 210.7 metres depth.

Results confirm the geological model and provide additional evidence that the deposit remains open at depth.

A resource upgrade is expected in April 2017, to be followed by pre-feasibility study results in mid-2017.

James Fox, managing director, commented: “The aim of the drill program was to provide sufficient geological information to upgrade the majority of the existing resource estimate to the, (higher confidence), Indicated category for inclusion in the Hayes Creek pre-feasibility study, whilst identifying opportunities for optimising the mine plan and future resource growth.”


Drill result details

The assay results continue to delineate two main massive sulphide zones; an eastern hanging-wall lode defined by its significant zinc-gold-silver mineralisation, and underneath, a broader western footwall lode.

Several other narrow gold-only zones have been identified, between the massive sulphide lodes and in the hanging wall.

Highlights include:

- 7.5 metres at 19.1% zinc equivalent or 12.77% zinc, 1.89  g/t gold, 326 g/t silver, 2.82% lead and 0.35% copper from 210.7 metres;
- 29.5 metres at 4.3% zinc equivalent or 1.82% zinc, 2.41 g/t gold, 24.8 g/t silver, 0.13% lead and 0.28% copper from 247.9 metres; and
- 15.7 metres at 5.5% zinc equivalent or 5.04% zinc, 0.82 g/t gold, 19.2 g/t silver, 0.13% lead and 0.24% copper from 118.2 metres.


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Hayes Creek project contains the Iron Blow and Mt Bonnie gold-silver-zinc deposits, located less than 3 kilometres apart and situated on granted mineral leases wholly owned by PNX.

The Hayes Creek pre-feasibility study is fully funded and due for completion by mid-2017.

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.


Analysis

The successful drilling program has delivered continuous results exhibiting zones of zinc-gold-silver rich mineralisation and extensions to near surface mineralisation.

Assays bode well for the pending resource upgrade for the Iron Blow deposit.

This will follow the recently upgraded resource at Mt Bonnie, which will allow for completion of the Hayes Creek pre-feasibility study by mid-2017.

Previous mining studies envisaged 100% underground mining but recent new data may allow PNX to incorporate lower cost open-pit mining methods in the mining optimisation studies.

PNX shares are up 65% over the past 12 months, currently trading at $0.02.

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Thu, 30 Mar 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/175643/pnx-metals-receives-more-high-grade-results-in-final-assay-batch-175643.html
<![CDATA[News - PNX Metals sees open pit potential after high grade zinc assays ]]> http://www.proactiveinvestors.com.au/companies/news/174799/pnx-metals-sees-open-pit-potential-after-high-grade-zinc-assays-174799.html PNX Metals (ASX:PNX) has received assays from nine more holes at the Iron Blow deposit within the Hayes Creek gold-silver-zinc project in the Pine Creek region of Northern Territory.

Assays feature grades of 15.5 metres at 16.8% zinc equivalent from 64.1 metres depth.

19 holes have been reported to date, which are part of the 30-hole infill and extensional drill program.

The mineralisation intersected occurs largely as predicted by the geological model.

Previously considered an underground deposit, the excellent near-surface zinc, gold and silver mineralisation intersected introduces the potential for an initial open-pit.

The remaining assays are due shortly with a resource upgrade expected in late March 2017.

James Fox, managing director, commented: “These recent results are significant, not just due to their excellent metals grades but that potentially mineable widths of mineralisation have been delineated at vertical depths of less than 40 metres below surface.”


Drill result details

All nine holes intersected massive and disseminated sulphide mineralisation within two main zones; an eastern hanging-wall lode defined by its significant zinc-gold-silver mineralisation, and underneath, a broader western footwall lode.

Assays include:

- 11 metres at 7.4% zinc equivalent (0.84% zinc, 0.63 g/t gold, 332.4 g/t silver, 1.31% lead, 0.14% copper) from 24 metres;
- 24.16 metres at 6.7% zinc equivalent (4.68% zinc, 1.57 g/t gold, 74.7 g/t silver, 0.70% lead, 0.09% copper) from 115.7 metres in the eastern lode;
- 7.8 metres at 9.1% zinc equivalent (6.02% zinc, 1.47 g/t gold, 131 g/t silver, 0.76% lead, 0.38% copper) from 171.5 metres in the western lode; and
- 12 metres at 13.6% zinc equivalent (8.94% zinc, 2.46 g/t gold, 209 g/t silver, 1.03% lead, 0.32% copper) from 40 metres.

The remaining holes reported were drilled over various sections of the deposit and continue to intercept mineralisation as predicted by the geological model, demonstrating good grade continuity and a good understanding of the geological controls.


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Hayes Creek project contains the Iron Blow and Mt Bonnie gold-silver-zinc deposits, located less than 3 kilometres apart and situated on granted mineral leases wholly owned by PNX.

The Hayes Creek pre-feasibility study is fully funded and due for completion by mid-2017.

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.


Analysis

Drilling continues to discover strong zones of zinc-gold-silver rich mineralisation and extensions to near surface mineralisation which bodes well for the pending resource upgrade for the Iron Blow deposit.

This will follow the recently upgraded resource at Mt Bonnie, which will allow for completion of the Hayes Creek pre-feasibility study by mid-2017.

Previous mining studies envisaged 100% underground mining; this new data may allow PNX to incorporate lower cost open-pit mining methods in the mining optimisation studies.

Shares in PNX have more than doubled over the past 12 months, currently trading at $0.023.

PNX remains leveraged to further exploration based news flow with assays from the remaining holes expected shortly.

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Wed, 15 Mar 2017 09:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/174799/pnx-metals-sees-open-pit-potential-after-high-grade-zinc-assays-174799.html
<![CDATA[News - PNX Metals to reveal drilling results ]]> http://www.proactiveinvestors.com.au/companies/news/174646/pnx-metals-to-reveal-drilling-results-174646.html PNX Metals (ASX:PNX) has been granted a trading halt by the ASX, pending drilling results.

The company is focused on the Hayes Creek project in the Northern Territory.

The halt will remain in place until the opening of trade on Wednesday 15th March 2017, or earlier if an announcement is made to the market.

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Mon, 13 Mar 2017 10:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/174646/pnx-metals-to-reveal-drilling-results-174646.html
<![CDATA[News - PNX Metals: Access latest PPT from Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/173665/pnx-metals-access-latest-ppt-from-proactive-s-ceo-sessions-173665.html PNX Metals (ASX:PNX) managing director, James Fox, joined Proactive's CEO Sessions in Sydney on Monday 20th February and Melbourne on Tuesday 21st February.

The company is developing the Hayes Creek zinc-gold-silver project, and exploring for gold and base metals in the Northern Territory.

PNX is strongly leveraged to rising commodity prices, and short term share-price catalysts include a pending resource upgrade and PFS advancement.


ACCESS THE FULL PRESENTATION HERE

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Fri, 24 Feb 2017 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/173665/pnx-metals-access-latest-ppt-from-proactive-s-ceo-sessions-173665.html
<![CDATA[News - PNX Metals swells resources in time for Proactive's Spotlight CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/172962/pnx-metals-swells-resources-in-time-for-proactive-s-spotlight-ceo-sessions-172962.html PNX Metals (ASX:PNX) has continued to intersect mineralisation at the Hayes Creek project in the Northern Territory during 2016.

This is now culminating in a tonnage and confidence increase in resources.

In early February the Mt Bonnie resource was updated to: 1.55 million tonnes at 3.8% zinc, 1.34g/t gold, 127g/t silver, 1.1% lead and 0.2% copper.

Importantly, 90% of the resource has now been converted to the higher confidence Indicated category.

Pending news includes the finalisation of an updated resource for the larger Iron Blow deposit.


Find out more from James Fox, managing director, at Proactive's CEO Spotlight Sessions.


Click on city below to register be email

- Sydney: Monday, 20th February.
- Melbourne: Tuesday, 21st February.
- Email Pauline here.
- Call office on (02) 9280 0700.


Presenter list

- Argent Minerals (ASX:ARD): David Busch.
- PNX Metals (ASX:PNX): James Fox.
- Danakali (ASX:DNK): Paul Donaldson.
- Oro Verde (ASX:OVL): Trevor Woolfe.
- Verdant Minerals (ASX:VRM): Chris Tziolis.

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Fri, 10 Feb 2017 14:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172962/pnx-metals-swells-resources-in-time-for-proactive-s-spotlight-ceo-sessions-172962.html
<![CDATA[News - PNX Metals swells zinc–gold–silver Resource at Mt Bonnie ]]> http://www.proactiveinvestors.com.au/companies/news/172887/pnx-metals-swells-zincgoldsilver-resource-at-mt-bonnie-172887.html PNX Metals (ASX:PNX) continued drilling success is now converting into larger, higher confidence resources, at Hayes Creek in the Northern Territory.

The Mt Bonnie resource has been updated to: 1.55 million tonnes at 3.8% zinc, 1.34g/t gold, 127g/t silver, 1.1% lead and 0.2% copper.

The increase in metals is as follows: gold up by 28%, silver up by 15%, and zinc up by 7%. The resource tonnes increased by one-fifth.

Importantly, 90% of the resource has now been converted to the higher confidence Indicated category.

James Fox, managing director, commented:

"The close proximity of the project to essential services and infrastructure, and high zinc and gold equivalent grades make for a potentially low cost, high margin operation that features an attractive mix of readily extractable commodities for investors.

"We look forward to finalising the studies required for the PFS, which will feature new metallurgical data, and is on schedule and due for completion mid-2017."

The resource occurs near-surface from around 25 metres to 170 metres in depth.

Detailed open-pit mining studies are underway.


Analysis

The completion of this favourable resource upgrade at Mt Bonnie is another important achievement in the development of the Hayes Creek Project.

Next steps include detailed open-pit mining studies which are underway at Mt Bonnie, along with the finalisation of an updated resource for the larger Iron Blow deposit.

The Hayes Creek PFS remains on target to be completed by mid-2017, to incorporate updated resources for Mt Bonnie, Iron Blow and new metallurgical data.

PNX shares have more than doubled over the past 12-months as the company continues to deliver news flow and a clear corporate strategy.

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Thu, 09 Feb 2017 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172887/pnx-metals-swells-zincgoldsilver-resource-at-mt-bonnie-172887.html
<![CDATA[News - PNX Metals to provide mineral resource update ]]> http://www.proactiveinvestors.com.au/companies/news/172813/pnx-metals-to-provide-mineral-resource-update-172813.html PNX Metals (ASX:PNX) has been granted a trading halt this morning by the ASX, pending details regarding a mineral resource update.

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

The halt will remain in place until the opening of trade on Friday 10th February 2017, or earlier if an announcement is made to the market.

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Wed, 08 Feb 2017 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172813/pnx-metals-to-provide-mineral-resource-update-172813.html
<![CDATA[News - PNX Metals hits more high-grade zinc at Iron Blow ]]> http://www.proactiveinvestors.com.au/companies/news/171979/pnx-metals-hits-more-high-grade-zinc-at-iron-blow-171979.html PNX Metals (ASX:PNX) has received assays for 10 holes from the infill and extensional drilling program at the Iron Blow deposit within the Hayes Creek gold-silver-zinc deposit located in the Northern Territory.

Significant intersections included 11.1 metres at 32.8% zinc equivalent.

The results are part of a 30 holes program with the remaining assays due shortly and a resource upgrade expected in March.

James Fox, managing director, commented: “We are pleased to have identified a near surface extension to the western lode at Iron Blow.

“This is new mineralisation that extends to surface and lies outside of the existing Mineral Resource.

“The main massive sulphide mineralisation continues to report strong zinc, gold and silver grades.”


Drill result details

Excellent assay results continue at Iron Blow, significant intersections include:

- 33.6 metres at 12.1% zinc equivalent (6.28% zinc, 2.34 g/t gold, 246 g/t silver, 1.45% lead, 0.25% copper) from 180.0 metres including 11.13 metres at 32.8% zinc equivalent;
- 44.56 metres at 7.2% zinc equivalent (4.30% zinc, 2.07 g/t gold, 81 g/t silver, 0.43% lead, 0.35% copper) from 219.3 metres; and
- 11 metres at 7.4% zinc equivalent (0.60% zinc, 0.63g/t gold, 332g/t silver, 1.31% lead, 0.14% copper) from 24.0 metres.

These results have confirmed a near-surface extension of the western lode outside of the existing geological model.


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Hayes Creek project contains the Iron Blow and Mt Bonnie gold-silver-zinc deposits, located less than 3 kilometres apart and situated on granted mineral leases wholly owned by PNX.

The Hayes Creek pre-feasibility study is fully funded and due for completion by mid-2017.

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.


Analysis

Drilling continues to discover extensions to near surface mineralisation which bodes well for the resource upgrade expected in March for the Iron Blow deposit.

This will be alongside the upgraded resource, expected to be completed shortly at Mt Bonnie, which will allow for completion of the Hayes Creek pre-feasibility study by mid-2017.

Shares in PNX are up 150% over the past 12 months, currently trading at $0.025.

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Mon, 23 Jan 2017 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171979/pnx-metals-hits-more-high-grade-zinc-at-iron-blow-171979.html
<![CDATA[News - PNX Metals continues to get zinc results from Mt Bonnie drilling ]]> http://www.proactiveinvestors.com.au/companies/news/171767/pnx-metals-continues-to-get-zinc-results-from-mt-bonnie-drilling-171767.html PNX Metals (ASX:PNX) has received the final assays grading up to 13.1% zinc equivalent from its 27 hole drill program at the Mt Bonnie deposit within the Hayes Creek gold-silver-zinc project in the Northern Territory.

Significant intersections included 16.6 metres at 4.24% zinc, 1.74 g/t gold, 137 g/t silver, 0.86% lead, 0.21% copper from 26.1 metres.

Assay data is being used to estimate a new resource, due in early February 2017.

Drilling has successfully discovered a new near-surface southerly 100 metre extension to mineralisation.

James Fox, managing director, commented: “Results from the zinc cleaner flotation batch test work have been improving with arsenic grades now within specifications for concentrate sale.

“We have also seen an increase in overall plant recoveries from previous test work for all payable metals and look forward to completing the locked cycle flotation tests to establish metallurgical parameters for use in the Hayes Creek pre-feasibility study.”


Drill result details

Assays from the final two holes of the 27 hole reverse circulation and diamond drilling program at the Mt Bonnie VMS deposit include:

- 16.6 metres at 4.24% zinc, 1.74 g/t gold, 137 g/t silver, 0.86% lead, 0.21% copper from 26.1 metres including 6.9 metres at 8.28% zinc, 1.92 g/t gold, 177 g/t silver, 1.57% lead, 0.42% copper; and
- 20.65 metres at 6.62% zinc, 2.60 g/t gold, 101g/t silver, 0.60% lead, 0.43% copper from 53.95 metres including 5.05 metres at 12.85% zinc, 1.09 g/t gold, 65.8 g/t silver, 0.53% lead, 0.41% copper.

Drilling has discovered a new near-surface southerly extension to mineralisation that extends 100 metres beyond the limits of previous drilling to directly beneath the Southern Gossan.

This area, which sits outside the existing resource boundary, remains open to the south and at depth, and will be drilled during the 2017 dry season.


Metallurgical test-work update

Metallurgical test work has progressed successfully through the latter part of 2016 with consultants working on the milling flotation of the ores to maximise recovery of valuable metals and metal grade of the product concentrates.

Metallurgical optimisation is progressing well with continued improvements in recoveries of payable metals and rejection of deleterious elements.

Both the zinc and precious metals concentrates will now be sent for mineralogical analysis to further optimise grind size and reagent parameters.


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Hayes Creek project contains the Iron Blow and Mt Bonnie gold-silver-zinc deposits, located less than 3 kilometres apart and situated on granted mineral leases wholly owned by PNX.

The Hayes Creek pre-feasibility study is fully funded and due for completion by mid-2017.

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.


Analysis

This drill program has successfully discovered extensions to near surface mineralisation that bodes well for a resource upgrade due in early February.

Significantly, the mineralisation being drilled out is near-surface and likely capable of being easily mined.

The mineralisation remains open to the south and at depth and will provide for additional drill targets.

The final assays build on the previous batches which showed mineralisation to extend beyond the predicted depth of the existing resource boundary and provide the potential to model an expanded open-pit scenario.

Shares in PNX are up 130% over the past 12 months, currently trading at $0.028.

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Wed, 18 Jan 2017 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171767/pnx-metals-continues-to-get-zinc-results-from-mt-bonnie-drilling-171767.html
<![CDATA[News - PNX Metals completes drill program at Iron Blow ]]> http://www.proactiveinvestors.com.au/companies/news/171633/pnx-metals-completes-drill-program-at-iron-blow-171633.html PNX Metals (ASX:PNX) has completed its planned infill and extensional drill program at the Iron Blow deposit within the Hayes Creek gold-silver-zinc project located in the Northern Territory.

Visible zones of massive and semi-massive sulphide mineralisation have been intersected as predicted by existing geological model.

The 5,563 metre drill program was designed to upgrade confidence in the current resource estimate.

The remaining assay data is due from end January 2017 with a resource upgrade expected in
March 2017.

James Fox, managing director, commented: “The success of this drilling will allow the Iron Blow Mineral Resource to be updated in the coming months, which, along with the upgraded resource to be completed shortly at Mt Bonnie, will allow for completion of the Hayes Creek pre-feasibility study by mid-2017.”


Drill program details

Iron Blow along with Mt Bonnie comprises the Hayes Creek gold-silver-zinc project in the Pine Creek region of the Northern Territory.

5,563 metres were drilled in total, of which 2,091 metres were reverse-circulation including pre-collars, and 3,472 metres were diamond core.

Results from all remaining holes, including those targeting the near-surface extensional mineralisation on the western lode, will be released when received, likely from the end of January 2017.

Assays from the first holes from the infill portion of the program were drilled on the same section towards the southern end of the deposit.

Significant massive sulphide mineralisation was assayed including 16.2 metres at 18.4% zinc equivalent or  10.70% zinc, 4.80 g/t gold, 256 g/t silver, 2.42% lead and 0.37% copper from 138 metres.


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Hayes Creek project contains the Iron Blow and Mt Bonnie gold-silver-zinc deposits, located less than 3 kilometres apart and situated on granted mineral leases wholly owned by PNX.

The Hayes Creek pre-feasibility study is fully funded and due for completion by mid-2017.

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.

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Mon, 16 Jan 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171633/pnx-metals-completes-drill-program-at-iron-blow-171633.html
<![CDATA[News - PNX Metals hits rich sulphide mineralisation at Moline ]]> http://www.proactiveinvestors.com.au/companies/news/170639/pnx-metals-hits-rich-sulphide-mineralisation-at-moline-170639.html PNX Metals (ASX:PNX) has intersected rich zinc-gold-silver-lead mineralisation in its first drill program at the Moline exploration project in the Pine Creek region of the Northern Territory.

Intersections included 2 metres at 4.66 g/t gold, 177 g/t silver, 4.92% zinc and 4.41% lead from 89 metres. A broad 30 metre gold and zinc zone was also intersected near surface.

A total of 12 reverse circulation holes were completed for 1,497 metres.

Further analysis and modelling of the data will proceed before a follow-up drill program is planned for the 2017 dry season.

James Fox, managing director, commented: “We are very pleased to have completed our first exploration drill program at Moline with immediate success in identifying new high-grade gold and base metals mineralisation.

“Three highly prospective areas were drill-tested, all exhibiting near-surface ore-grade mineralisation at potential mineable widths.”


Moline drill results

A total of 12 reverse circulation holes were completed for 1,497 metres during November.

The Moline project comprised four key prospects: Moline, School, Tumbling Dice and Hercules.

Assays from the final 10 holes were received with highlights including:

- 2 metres at 4.66 g/t gold, 177 g/t silver, 4.92% zinc and 4.41% lead from 89 metres;
- 11 metres at 1.41 g/t gold, 0.45% zinc from 118 metres;
- 9 metres at 2.57 g/t gold from 92 metres; and
- 30 metres at 2.29 g/t gold and 0.70% zinc from 78 metres including 3 metres at 6.58% gold.

Five holes were drilled at the Moline prospect within the Moline project, which produced the majority of mineralised intersections.

The 30 metre broad intersection was drilled at the Tumbling Dice prospect located 1 kilometre from the historic Moline open-pit.


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Hayes Creek project contains the Iron Blow and Mt Bonnie gold-silver-zinc deposits, located less than 3 kilometres apart and situated on granted mineral leases wholly owned by PNX.

The Hayes Creek pre-feasibility study is fully funded and due for completion by May 2017.

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.

First stage farm-in at Moline complete

PNX recently completed the first stage of its farm-in agreement gaining a 51% interest in 1,700 square kilometres of land in the Pine Creek region of the Northern Territory.

The agreement with Newmarket Gold encompasses the Burnside, Moline and Chessman projects and excludes their uranium rights.

PNX has now elected to proceed to the second stage of the farm-in whereby it can increase its interest in the 19 exploration licences and 4 mineral leases to 90% through $2 million expenditure by 15 December 2018.


Analysis

The final 10 holes of the initial 12 hole drilling program at the Moline exploration project has been successful in showing the project’s prospectivity.

Drilling has highlighted the potential for Moline to host mineralisation similar to PNX’s flagship Hayes Creek project, which is located 65 kilometres away.

The program was designed to test three mineralised structures that were partly mined for oxide gold in the early 1990s and results have exhibited near-surface gold as well as added potential for base metal mineralisation at depth.

The follow up program in 2017 will be highly anticipated as the company looks to explore the extent of the mineralisation which remains open in many directions.

The Moline project is easily accessible located 1.5 kilometres from the Kakadu highway and lies on granted mineral leases.

Gold has been mined at Moline up until the early 1990s when it ceased abruptly due to equipment failure. This was prior to depletion of mining inventory and prior to evaluation of resource potential at depth.

Shares in PNX are up 140% year to date, currently trading at $0.024.

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Mon, 19 Dec 2016 11:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170639/pnx-metals-hits-rich-sulphide-mineralisation-at-moline-170639.html
<![CDATA[News - PNX Metals reaches farm-in milestone after raising funds ]]> http://www.proactiveinvestors.com.au/companies/news/170567/pnx-metals-reaches-farm-in-milestone-after-raising-funds-170567.html PNX Metals (ASX:PNX) has completed the first stage of its farm-in agreement gaining a 51% interest in 1,700 square kilometres of land in the Pine Creek region of the Northern Territory.

The agreement with Newmarket Gold encompasses the Burnside, Moline and Chessman projects and excludes their uranium rights.

PNX has now elected to proceed to the second stage of the farm-in whereby it can increase its interest in the 19 exploration licences and 4 mineral leases to 90% through $2 million expenditure by 15 December 2018.

The Burnside, Moline and Chessman projects contain opportunities for brownfield discoveries and surround the flagship Hayes Creek gold-silver-zinc project.

PNX also secured commitments to raise $2.6 million in an oversubscribed share placement earlier in the week.

James Fox, managing director, commented: “With our well-supported and successful capital raising earlier this week and excellent assays results from initial Moline drilling, the company is well positioned for follow-up during the 2017 dry-season.”


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Hayes Creek project contains the Iron Blow and Mt Bonnie gold-silver-zinc deposits, located less than 3 kilometres apart and situated on granted mineral leases wholly owned by PNX.

The Hayes Creek pre-feasibility study is fully funded and due for completion by May 2017.

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.


Recent capital raising

Earlier this week PNX secured commitments to raise $2.6 million in an oversubscribed share placement priced at $0.02.

Subject to shareholder approval, investors will also receive a 1:2 unlisted option exercisable at $0.05 and expiring 30 May, 2019.

The funds raised will be used to accelerate the work program related to government and environmental approvals for the flagship Hayes Creek project and further drilling and metallurgy at the newly discovered Southern Gossan at Mt Bonnie.

Additional regional exploration will focus on the Moline project.


Moline recent drill results

A total of 12 reverse circulation holes were completed for 1,497 metres during November.

Assays from two holes drilled beneath a historical open-pit at the School prospect include:

- 9 metres at 2.66 g/t gold from 68 metres in the western lode; and
- 7 metres at 11.89 g/t  gold from 115 metres in the eastern lode including 3 metres at 23.79 g/t gold.

Drilling has observed at least two main lodes, comprising a western and eastern lode.

Mineralisation is open in all directions, providing significant scope for further exploration success.


Analysis

Entering the next stage of the farm-in over the Burnside, Moline and Chessman projects along with raising $2.6 million mark the completion of two significant milestones for PNX this week.

The farm-in agreements provides PNX with important exploration projects to advance while the flagship Hayes Creek project works towards completing a pre-feasibility study by mid-2017.

Initial drill results from the Moline project have already shown new high grade gold mineralisation with the potential of defining a shallow resource.

With base metal associations identified in historical data, Moline shows synergies with the nearby flagship Hayes Creek project.

PNX remains leveraged to exploration news flow over the short term with assays from the other completed holes at Moline expected shortly.

Shares in PNX are up 160% year to date, currently trading at $0.026.

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Fri, 16 Dec 2016 09:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170567/pnx-metals-reaches-farm-in-milestone-after-raising-funds-170567.html
<![CDATA[News - PNX Metals raising funds for high-grade gold and massive sulphides ]]> http://www.proactiveinvestors.com.au/companies/news/170140/pnx-metals-raising-funds-for-high-grade-gold-and-massive-sulphides-170140.html Earlier in the month the company received initial assays from two holes grading up to 23.7 g/t gold at the Moline exploration project located in the Pine Creek region of the Northern Territory.

In November, across at the Hayes Creek gold-silver-zinc project, PNX intersected two zones of massive sulphide mineralisation.

The halt will remain in place until the opening of trade on Monday 12th December 2016, or earlier if an announcement is made to the market.

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Thu, 08 Dec 2016 08:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170140/pnx-metals-raising-funds-for-high-grade-gold-and-massive-sulphides-170140.html
<![CDATA[News - PNX Metals: A Robust Polymetallic Project ]]> http://www.proactiveinvestors.com.au/companies/news/170002/pnx-metals-a-robust-polymetallic-project-170002.html A Robust Polymetallic Project

We (Kamara Group) currently value PNX at A$0.058/share, based on a valuation of approximately A$34m, incorporating an appropriate discount for risk.

PNX are due to publish the results of a PFS for the Hayes Creek VMS project in the Northern Territory, Australia in 1H’17.

The Hayes Creek deposits remain open along strike and depth, with both proximal and distal gold mineralisation identified which could provide a boost to project economics.

Recent encouraging drilling results at Moline (7m @ 12g/t Au) has seen us add a modest amount to our valuation for exploration potential.

Further drilling results at the prospect, 65km from Hayes Creek, are due in coming weeks.

Preliminary capital of A$54m has been estimated for development of Hayes Creek, with expected low cash costs and production in 2019.


Key Points

Discovery Potential: The deposits are open along strike and at depth. Recent drilling at Mt Bonnie indicates additional open cut potential along strike.

Proximal gold mineralisation (such as Moline) may also prove a boost to the project, should exploration delineate a potentially mineable resource.

Metallurgy upside: PNX is examining the potential for increased recovery of all payable metals, including options for a Merrill Crowe circuit for gold/silver doré, base metal concentrates (Pb/Cu) and potential for sale of a bulk concentrate.

PNX recently reported (2Q’16) improved flotation recoveries of gold, silver and zinc at Mt Bonnie in comparison to Iron Blow.

Location: 170km south of Darwin and well positioned close to existing  infrastructure including rail, road, high voltage powerlines, water, and Kirkland Lake’s gold mining operations (TSX: KL, formerly Newmarket/Crocodile Gold).


Valuation Summary

Our post-tax NPV is calculated at US$68.5m (A$91.3m). On a pre-tax basis, using an 8% discount rate, we obtain an NPV of A$120m.

Taking only 35% of the project valuation for risks relating to the pre-development PFS stage, we obtain a valuation of A$34.1m.

We have used flat, nominal costs and revenue based on recent spot pricing (29/11/16) LOM for most inputs for the DCF. Key differences in our model and the Scoping Study are minor and include:

- Addition of silver-offtake financing with associated royalty (net reduction in NPV).
- Assumed higher gold recovery at Mt Bonnie (70% vs 50% in scoping study).
- Use of spot pricing rather than consensus estimates (similar net pricing in revenue terms).
- We quote a post-tax NPV (rather than pre-tax) and use an 8% Weighted Average Cost of Capital (WACC) compared to 10% in the Scoping Study.
- We have taken out sustaining capital (mainly underground) from the operating costs, and added this item into ongoing capital requirements.

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Tue, 06 Dec 2016 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170002/pnx-metals-a-robust-polymetallic-project-170002.html
<![CDATA[News - PNX Metals hits high grade gold with first holes at Moline Project ]]> http://www.proactiveinvestors.com.au/companies/news/169932/pnx-metals-hits-high-grade-gold-with-first-holes-at-moline-project-169932.html PNX Metals (ASX:PNX) has received initial assays from two holes grading up to 23.7 g/t gold at the Moline exploration project located in the Pine Creek region of the Northern Territory.

12 holes have been completed and highlights from the first two holes include 9 metres at 2.66 g/t gold and 7 metres at 11.89 g/t gold.

The Moline project is located 65 kilometres from the company’s flagship Hayes Creek gold-silver-zinc project.

The drill program was designed to test three mineralised structures that were partly mined for oxide mineralisation in the early 1990s. Remaining assays are due shortly.

James Fox, managing director, commented: “We are attracted by the opportunity to quickly define sizeable and high-grade mineral resources by building on existing datasets at Moline.”


Moline drill program

A total of 12 reverse circulation holes were completed for 1,497 metres during November.

Assays from two holes drilled beneath a historical open-pit at the School prospect include:

- 9 metres at 2.66 g/t gold from 68 metres in the western lode; and
- 7 metres at 11.89 g/t  gold from 115 metres in the eastern lode including 3 metres at 23.79 g/t gold.

Drilling has observed at least two main lodes, comprising a western and eastern lode.

Mineralisation is open in all directions, providing significant scope for further exploration success.


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Hayes Creek project contains the Iron Blow and Mt Bonnie gold-silver-zinc deposits, located less than 3 kilometres apart and situated on granted mineral leases wholly owned by PNX.

The Hayes Creek pre-feasibility study is fully funded and due for completion by May 2017.

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.


Other recent drill results

PNX recently received the first two diamond drill hole assays from the infill and extensional program at Iron Blow located within the Hayes Creek gold-silver-zinc project.

Two zones of massive sulphide mineralisation were intercepted including 16.2 metres at 18.4% zinc equivalent.

At the end of November, four holes for 1,200 metres had been completed at Iron Blow as part of the a planned 32 hole program.


Analysis

Initial drill results from the Moline project show new high grade gold mineralisation with the potential of defining a shallow resource.

With base metal associations identified in historical data, Moline shows synergies with the nearby flagship Hayes Creek project.

PNX remains leveraged to exploration news flow over the short term with assays from the other completed holes at Moline expected shortly.

Furthermore, with drill rigs operating at the Iron Blow prospect, PNX expects news flow from the program to continue and aims to complete the predominantly infill program by late December. 

The medium term goal for PNX is updating the resource estimate next year and this will, along with an upgraded resource at Mt Bonnie, allow for completion of the Hayes Creek pre-feasibility study by mid-2017.

Shares in PNX are up 130% year to date, currently trading at $0.023.

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Mon, 05 Dec 2016 12:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169932/pnx-metals-hits-high-grade-gold-with-first-holes-at-moline-project-169932.html
<![CDATA[News - PNX Metals Ltd hits thick massive sulphides in first holes at Iron Blow ]]> http://www.proactiveinvestors.com.au/companies/news/169564/pnx-metals-ltd-hits-thick-massive-sulphides-in-first-holes-at-iron-blow-169564.html PNX Metals Ltd (ASX:PNX) has received the first two diamond drill hole assays from the infill and extensional program at Iron Blow located within the Hayes Creek gold-silver-zinc project in the Northern Territory.

Two zones of massive sulphide mineralisation have been intercepted including 16.2 metres at 18.4% zinc equivalent.

Four holes for 1,200 metres have been completed at Iron Blow as part of the a planned 32 hole program.

Drilling at Iron Blow will continue into late December 2016 with a resource upgrade expected in early 2017.

James Fox, managing director, commented:

“It is pleasing to see continuing thick zones of massive sulphide mineralisation with excellent zinc and gold grades being encountered at Iron Blow, especially as zinc prices have reached an 8½-year high and reflect strong fundamentals.

“With three drill rigs operating in parallel we aim to complete the predominantly infill program by late December.”


Drilling details

High grade zinc, gold and silver assay results have been received from the Iron Blow infill and extensional drill program including:

- 16 metres at 18.4% zinc equivalent or 10.70% zinc, 4.80 g/t gold, 256 g/t silver, 2.42% lead and 0.37% copper from 138 metres including 11 metres at 25.9% zinc equivalent; and

- 41 metres at 6.6% zinc equivalent or 3.43% zinc, 2.04 g/t gold, 86 g/t silver, 0.54% lead and 0.32% copper from 184 metres including 7.7 metres at 18.3% zinc equivalent.

All holes drilled to date have intersected visible zones of massive and semi-massive sulphide mineralisation.

Two zones of massive sulphide mineralisation have been intercepted, an eastern hanging wall lode and underneath, a broader western footwall lode.


Hayes Creek pre-feasibility study

The Hayes Creek pre-feasibility study is fully funded and due for completion by May 2017. 

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate positive financial returns.

Hayes Creek is located in a favourable mining jurisdiction in the Pine Creek region of Northern Territory, less than two hours by road from Darwin. 

The development strategy includes the use of existing infrastructure, designed to boost economics and reduce project risk.


Regional exploration

A 12 hole, 1,497 metre reverse circulation drilling program has recently been completed at the Moline Project. 

Wet weather intervened to cut the program short of plan however the three mineralised structures were tested with first results expected next week.

The Burnside Project, Moline and Chessman prospects form part of PNX’s farm-in agreement with Newmarket Gold NT Holdings Pty Ltd, a subsidiary of Newmarket Gold Inc. where PNX is earning up to 90 per cent, in two stages, of the 1,700 square kilometre area.

Total expenditure at 31 October 2016 for the purpose of the first stage of the farm-in was $1.9 million.  A further $0.1 million is required to be, and will be, spent by December 2016 to achieve the first stage earn-in of 51%.


Analysis

Initial results from the infill and extensional drilling indicate the potential this program has to add value to the Hayes Creek project by identifying economic mineral resources.

With three drill rigs operating in parallel, PNX expects news flow from the program to continue and aims to complete the predominantly infill program by late December.  

The medium term goal for PNX is updating the resource estimate next year and this will, along with an upgraded resource at Mt Bonnie, allow for completion of the Hayes Creek pre-feasibility study by mid-2017. 

The gold exploration drill program at Moline has been completed with assay results due shortly. This has the potential to unlock further value for PNX.

Shares in PNX are up 130% year to date, currently trading at $0.023.

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Mon, 28 Nov 2016 10:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169564/pnx-metals-ltd-hits-thick-massive-sulphides-in-first-holes-at-iron-blow-169564.html
<![CDATA[News - PNX Metals Ltd completes sale of Leigh Creek, assays expected ]]> http://www.proactiveinvestors.com.au/companies/news/169299/pnx-metals-ltd-completes-sale-of-leigh-creek-assays-expected-169299.html PNX Metals Ltd (ASX:PNX) has relieved itself from all rehabilitation obligations after completing the sale of Leigh Creek Copper Mine Pty Ltd (LCCM).

The sale includes LCCM, which owns three mining leases and also an additional two exploration licences nearby.

Operations at Leigh Creek have been on care and maintenance since January 2012.

PNX is to receive a $100,000 payment if and when 3,000 tonnes of copper are produced from future operations on the mining leases by the buyer, Resilience Mining Australia Ltd.


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Hayes Creek project contains the Iron Blow and Mt Bonnie gold-silver-zinc deposits, located less than 3 kilometres apart and situated on granted mineral leases wholly owned by PNX.

The Hayes Creek pre-feasibility study is fully funded and due for completion by May-2017.

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.


Drilling update

The company has commenced a 16 hole reverse circulation drill program at the Moline exploration project, where three known gold mineralised structures will be drilled.

This initial drill program is targeting near-surface open mineralisation and provides the opportunity, with minimal drilling, to define mineral resources.

Drilling is expected to finish within the week.

Within Hayes Creek, infill diamond drilling at Iron Blow is proceeding well with drilling intercepting massive sulphide mineralisation as predicted in the geological model.

Four diamond holes have been completed with assay results from the first infill diamond hole due shortly.

Drilling is expected to continue into December 2016.

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Tue, 22 Nov 2016 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169299/pnx-metals-ltd-completes-sale-of-leigh-creek-assays-expected-169299.html
<![CDATA[News - PNX Metals Ltd hits the exploration trail in known gold district ]]> http://www.proactiveinvestors.com.au/companies/news/168843/pnx-metals-ltd-hits-the-exploration-trail-in-known-gold-district-168843.html PNX Metals Ltd (ASX:PNX) is using modern drilling technology to test for mineralisation in a historic gold region.

The company has commenced a 16 hole reverse circulation drill program at the Moline Exploration Project, where three known gold mineralised structures will be drilled.

This will target high-grade gold shoots with the potential for associated base metal sulphides.

Drilling will take around two weeks.

Moline is located 65 kilometres to the east of the company's Hayes Creek gold-silver-zinc project in the Pine Creek region of the Northern Territory.

James Fox, managing director, commented:

"The area hosts non-JORC historical gold resources and we have identified the potential for new gold and base metals mineralisation across three different structures.

"This initial drill program will target near-surface open mineralisation and provides the opportunity, with minimal drilling, potentially to define mineral
resources to JORC 2012 standards.

"A successful drill program has the potential to create significant value either as a standalone project or as one complementary to the Hayes Creek gold-silver-zinc project where PNX is due to complete a PFS by May 2017."


Historic gold

At Moline, gold had been mined periodically up until the early 1990's.

This was prior to depletion of mining inventory, and prior to evaluation of resource potential at depth.

Since then there has been no mining and very little exploration activity, however historical information and an airborne EM survey flown in 2011 suggests significant near-surface mineralisation still exists beneath and along strike from existing historical workings.


Funds

Expenditure at Moline will contribute toward the completion of the Stage 1 exploration earn-in with Newmarket Gold NT Holdings Pty Ltd where PNX is earning up to 90%.


Update from Hayes Creek

Infill diamond drilling at Iron Blow is proceeding well with drilling intercepting massive sulphide mineralisation as predicted in the geological model.

Four diamond holes have been completed with assay results from the first infill diamond hole due shortly.

Drilling is expected to continue into December 2016.

Coming up are four new reverse circulation holes are planned at Mt Bonnie.

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Fri, 11 Nov 2016 11:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168843/pnx-metals-ltd-hits-the-exploration-trail-in-known-gold-district-168843.html
<![CDATA[News - PNX Metals Ltd discovers near surface extension to Mt Bonnie deposit ]]> http://www.proactiveinvestors.com.au/companies/news/168446/pnx-metals-ltd-discovers-near-surface-extension-to-mt-bonnie-deposit-168446.html PNX Metals Ltd (ASX:PNX) has drilled out a new near-surface southerly extension to mineralisation at Mt Bonnie deposit located within the Haye Creek gold-silver-zinc project in the Northern Territory.

Assay results were received from a further 12 holes which discovered two distinct zones, an upper gold-silver-lead primarily oxide zone and a lower zinc-gold zone.

Results include 6 metres at 2.61 g/t gold, 345 g/t silver, 0.22% zinc, 3.22% lead and 0.4% copper from 3 metres depth.

Results from the remaining two holes in the program are expected in the coming weeks, followed by an updated resource estimate by the end of 2016.

Diamond drilling continues at the Iron Blow deposit, also within the Hayes Creek project and at the Barossa target, located at the nearby Burnside project.

James Fox, managing director, commented: “The discovery of a near-surface extension to mineralisation at Mt Bonnie is an exciting new development. 

“Additional drilling and metallurgical test work are being planned to ensure the predominantly oxide silver-gold-lead mineralisation can be included in the new resource estimate, and in any expanded open-pit scenario within the Hayes Creek pre-feasibility study.”


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Hayes Creek project contains the Iron Blow and Mt Bonnie gold-silver-zinc deposits, located less than 3 kilometres apart and situated on granted mineral leases wholly owned by PNX.

The Hayes Creek pre-feasibility study is fully funded and due for completion by May-2017.

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.


Mt Bonnie assays

Assays from the latest 12 holes at Mt Bonnie include:

- 6 metres at 2.61 g/t gold, 345 g/t silver, 0.22% zinc, 3.22% lead and 0.4% copper from 3 metres; and
- 4 metres at 2.45 g/t gold, 431 g/t silver, 0.30% zinc, 3.17% lead and 0.43% copper from 11 metres.

A new near-surface southerly extension to mineralisation has been discovered that extends approximately 100 metres beyond the limits of previous drilling to directly beneath the Southern Gossan, and remains open to the south and at depth.

An updated mineral resource estimate is expected by the end of 2016 which will be a key component of the fully funded Hayes Creek pre-feasibility study due for completion by May, 2017.


New drilling planned

As this whole area sits outside the limits of the existing resource boundary, four new holes are planned, as well as the deepening of one existing hole.

This new mineralisation will be modelled for use in the updated mineral resource estimate and in any expanded open-pit scenario for inclusion in the fully-funded Hayes Creek pre-feasibility study.

This drilling will likely occur during November.


Analysis

The discovery of near surface mineralisation has the potential to not only expand the current resource but do so with near-surface mineralisation capable of being easily mined.

The mineralisation remains open to the south and at depth and will provide for additional drill targets next year. 

These assays build on the first batch which showed mineralisation to extend beyond the predicted depth of the existing resource boundary and provide the potential to model an expanded open-pit scenario.

Assays from the remaining two holes are highly anticipated and are expected over the coming weeks.

Shares in PNX are up 130% year to date, currently trading at $0.023.

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Thu, 03 Nov 2016 12:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168446/pnx-metals-ltd-discovers-near-surface-extension-to-mt-bonnie-deposit-168446.html
<![CDATA[News - PNX Metals Ltd's drilling success delivers scale potential at Mt Bonnie ]]> http://www.proactiveinvestors.com.au/companies/news/167970/pnx-metals-ltd-s-drilling-success-delivers-scale-potential-at-mt-bonnie-167970.html PNX Metals Ltd (ASX:PNX) has received a further 9 holes from its infill and extensional drilling at the Mt Bonnie deposit located within the Haye Creek gold-silver-zinc project in the Northern Territory.

Silver assays from the infill drilling within the mineralised envelope appear to be consistently better than previously modelled. 

Results include 29 metres at 1.02 g/t gold, 187 g/t silver, 5.26% zinc, 1.44% lead and 0.29% copper.

Results from 14 holes are expected in the coming weeks, followed by a resource upgrade by the end of 2016.

Diamond drilling continues at the Iron Blow deposit, also within the Hayes Creek project and at the Barossa target, located at the nearby Burnside project.

James Fox, managing director, commented: “The assay results received from Mt Bonnie are again excellent. 

“The discovery of mineralisation in MBRC057 some 20 metres below the base of the modelled pit-shell and beyond the current resource estimate has the potential to significantly increase the scale of the mining inventory for inclusion into the Hayes Creek pre-feasibility study.”


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Hayes Creek project contains the Iron Blow and Mt Bonnie gold-silver-zinc deposits, located less than 3 kilometres apart and situated on granted mineral leases wholly owned by PNX.

The Hayes Creek pre-feasibility study is fully funded and due for completion by May-2017.

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.


Mt Bonnie assays

Assays from nine new holes at Mt Bonnie include:

- 29 metres at 1.02 g/t gold, 187 g/t silver, 5.26% zinc, 1.44% lead and 0.29% copper from 75 metres including 8 metres at 1.25 g/t gold, 388 g/t silver, 10.01% zinc, 2.73% lead and 0.51% copper; and
- 7 metres at 3.08 g/t gold, 446 g/t silver, 10.93% zinc, 3.19% lead and 0.50% copper from 72 metres.

Full interpretation of the results and their impact on the Mt Bonnie Mineral Resource will occur once the assays from all 27 holes have been received. 

An updated mineral resource estimate is expected by the end of 2016 which will be a key component of the fully funded Hayes Creek pre-feasibility study due for completion by May, 2017.


Analysis

The assays from Mt Bonnie confirm the geological model, which adds value by de-risking the project.

Furthermore, assays have shown mineralisation to extend beyond the predicted depth of the existing resource boundary and provide the potential to model an expanded open-pit scenario.

This could potentially be included in the fully-funded Hayes Creek pre-feasibility study.

The assays yet to be received at Mt Bonnie will be highly anticipated as most sit outside of the existing resource estimate.

News flow is expected to continue with assays from 14 holes pending and drilling ongoing at two other prospects.

Shares in PNX are up 130% year to date, currently trading at $0.023.

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Wed, 26 Oct 2016 14:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/167970/pnx-metals-ltd-s-drilling-success-delivers-scale-potential-at-mt-bonnie-167970.html
<![CDATA[News - PNX Metals drilling new high priority conductors, Mt Bonnie assays imminent ]]> http://www.proactiveinvestors.com.au/companies/news/167327/pnx-metals-drilling-new-high-priority-conductors-mt-bonnie-assays-imminent-167327.html PNX Metals Ltd (ASX:PNX) has commenced drilling at the Barossa gold-silver-zinc targets located within the Burnside Project in the Pine Creek region of the Northern Territory.

A cluster of volcanogenic massive sulphide (VMS) style electromagnetic anomalies have been identified.

The anomalies are consistent with concentrations of massive sulphides.

Two initial diamond drill holes for a total of 235 metres are proposed to test the highest-priority electromagnetic responses.

Drilling will take 10 days to complete with assays expected in November.

James Fox, managing director, commented: “The Barossa electromagnetic conductors have been modelled at relatively shallow depths, are consistent with concentrations of massive sulphides, and are situated in a new and untested target area less than 20 kilometres from the Hayes Creek project.”


Background

PNX’s focus is on its four projects located in the Pine Creek Region, 180 kilometres south of Darwin.

- Hayes Creek Project (flagship);
- Burnside Project;
- Moline Project; and
- Chessman Project.

The Hayes Creek project contains the Iron Blow and Mt Bonnie gold-silver-zinc deposits, located less than 3 kilometres apart and situated on granted mineral leases wholly owned by PNX.

The Hayes Creek pre-feasibility study is fully funded and due for completion by May-2017. 

It will expand on the scoping study completed in March 2016, which found that mining and processing ore derived from the proposed open-pit and underground operations at Hayes Creek would generate strong financial returns for PNX.


Hayes Creek drilling update

Base metals and silver assays from the remaining 23 holes drilled at Mt Bonnie are due shortly.

Infill diamond drilling at Iron Blow, also part of the Hayes Creek project, is proceeding well with drilling intercepting massive sulphide mineralisation as predicted in the geological model. 

Drilling at Iron Blow is expected to continue into December 2016.


Analysis

The exploration drill program at Barossa, if successful, has the potential to create substantial value for PNX shareholders.

Furthermore, the program is co-funded by the Northern Territory government meaning PNX are keeping shareholders leveraged to exploration upside for minimum cash outlay.

The geological setting of the Barossa targets is consistent with that observed at Iron Blow and Mt Bonnie.

The coming months are set to be a busy period for the company with multiple drill programs generating regular news flow.

Shares in PNX are up 130% year to date, currently trading at $0.023.

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Thu, 13 Oct 2016 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/167327/pnx-metals-drilling-new-high-priority-conductors-mt-bonnie-assays-imminent-167327.html
<![CDATA[News - Phoenix Copper starts drilling at Mount Bonnie ]]> http://www.proactiveinvestors.com.au/companies/news/106620/phoenix-copper-starts-drilling-at-mount-bonnie-106620.html Phoenix Copper (ASX:PNX) has started drilling at the Mount Bonnie prospect within the Hayes Creek Project in the Northern Territory. Drilling will target new mineralised positions and extensions to existing high-grade massive sulphide mineralisation.

This will be followed by a downhole electromagnetic survey to provide additional information for refining future drill programs.

During 2015 the company aims to define sufficient resources at the Hayes Creek project to provide inputs to complete a Scoping Study in mid-April 2016.

This will be used to demonstrate the potential viability of the project.   

In January, the company intersected a thick zone of massive sulphide mineralisation with its first hole at the Iron Blow deposit, also within the Hayes Creek Project.

This returned 50.39 metres at 10.12% zinc, 2.66 grams per tonne gold, 132.9g/t silver, 0.57% copper and 1.39% lead from 155.72 metres including 19.45 metres at 15.48% zinc, 2.65g/t gold, 158.2 g/t silver, 0.56% copper and 2.56% lead from 156.5 metres.

In April, Phoenix Copper started electromagnetic surveys to identify any potential new massive sulphide zones, and to assist drill targeting. Results are expected shortly.


Mount Bonnie

The reverse circulation drilling at Mount Bonnie comprises 11 holes totalling 1,250 metres that will target new mineralised positions and extensions to existing high-grade massive sulphide mineralisation.

This is expected to take approximately two weeks to complete with assays available in June 2015.

These assay results will be a key component of an initial resource estimate to be developed later in the year.

Historical exploration at Mount Bonnie returned 9.6 metres at 2.41 grams per tonne gold, 287g/t silver, 10.31% zinc. 2.65% lead and 0.54% copper from 75.2 metres.


Hayes Creek

Iron Blow and Mount Bonnie are polymetallic base-metal deposits that form part of Hayes Creek Project, and are situated on 100% owned mining leases located close to infrastructure, including rail, road, HV power and water.

The deposits are located approximately 180 kilometres south of Darwin and were first discovered in the late 1800’s.
Limited open pit and underground mining occurred around that time.

During the mid-1980’s, oxidised ore was mined by open pit for its gold and silver content, but the primary sulphide orebodies that are the focus of exploration by Phoenix Copper remain.

In November 2014 the Iron Blow deposit was upgraded to a JORC 2012 Inferred Resource of about 200,000oz of gold, 10.7 million ounces of silver and 125,000 tonnes of zinc at potentially mineable grades.

Down hole electromagnetic work will assist with the assessment for the potential for parallel zones at depth in both deposits.
Regionally, there are also a significant number of late stage VTEM anomalies in prospective lithology, and untested geochemical anomalies.

Testing of some of the more prospective regional targets will commence in July subject to government approvals.

The company is well positioned to take advantage of the forecast zinc price rise and stronger gold price.

Any additional zinc and/or gold defined within Hayes Creek project area will add significant value.


Metallurgy

Phoenix Copper has completed QEMSCAN and optical examination of Iron Blow composite material.

Initial sighter flotation and diagnostic metallurgical test work has also been completed with results expected shortly.

This information will be used to design a more comprehensive and optimised flotation program which will commence once the company estimates sufficient resources at Iron Blow and Mount Bonnie to underpin an economic project.


Analysis

Phoenix Copper’s current drill program at Mount Bonnie is expected to define additional shallow resources at the Hayes Creek project which will be complimentary to the Iron Blow deposit.

This drill program will be followed by a downhole electromagnetic survey to provide additional targeting information for future drill programs.

At the Iron Blow deposit a resource of 200,000oz of gold, 10.7 million ounces of silver and 125,000 tonnes of zinc at potentially mineable grades exists, an initial resource estimate at Mount Bonnie, and testing of additional exploration targets to come, the Hayes Creek Project is looking better and better.

Both deposits are on granted mining leases, and a significant portion of resources defined to date are amenable to open pit mining.

As well, the Hayes Creek Project is situated close to infrastructure, including rail, road, HV power and water; the Scoping Study should reflect these advantages.

There is also further work planned at Iron Blow, significant gold zones exist at depth that have not been included in the existing resource, and there is good potential for further resource growth.

Regional exploration to test a number of areas with base metals and gold potential is also due to commence shortly.
Discovery of additional zinc and gold will take advantage of the forecast zinc price rise and stronger gold price.

Share Price Catalysts
- Drill Results from Mount Bonnie;
- Results of downhole EM;
- Results from regional exploration work; and
- Move to drill test regional targets.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 11 May 2015 14:31:00 +1000 http://www.proactiveinvestors.com.au/companies/news/106620/phoenix-copper-starts-drilling-at-mount-bonnie-106620.html