http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Mon, 20 Aug 2018 15:09:38 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - PolarX hits high-grade gold and copper, Alaska Range resource increase expected ]]> http://www.proactiveinvestors.com.au/companies/news/202901/polarx-hits-high-grade-gold-and-copper-alaska-range-resource-increase-expected-202901.html PolarX Ltd (ASX:PXX) expects to increase copper, gold and silver resources at its Alaska Range project in Alaska after receiving strong high-grade, near-surface results from drilling at the Zackly deposit.

The first assay results from the 5-hole program included a hit of 55 metres at 2.8 g/t gold, 0.6% copper and 9.4 g/t silver from just 2.5 metres in hole ZX-18020.

READ: PolarX drills out visible copper sulphides in latest hole at Zackly

Within this were 11.5 metres from 2.5 metres at 0.6% copper, 5.3 g/t gold and 12 g/t silver; 8.8 metres from 18.3 metres at 0.5% copper, 5.8 g/t gold and 5.6 g/t silver; and 11.3 metres from 32 metres at 0.8% copper, 1.8 g/t gold and 23.3 g/t silver.

Also within the intersection was a 0.3-metre interval from 56.7 metres which assayed 27.3% copper, 2.5 g/t gold and 82.5 g/t silver.

This intersection was close to the bottom of the overall mineralised zone in this hole.

Further assay results soon

Hole ZX-18020 was drilled 850 metres east of the Zackly resource which stands at 41,200 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver over a strike length of 1 kilometre.

Given this result and with several other holes in the program intersecting visible gold and copper outside the resource, PolarX expects the JORC-compliant resource estimate to increase.

Assay results for the other four holes are expected within two to three weeks.

READ: PolarX attracts $3.9 million to accelerate exploration activities at the Alaska Range Project

The company also believes that the geological nature, width and the grade of mineralisation in the hole supports its view of the potential for a porphyry copper‐gold target at Zackly SE.

Gold and copper mineralisation in the hole occurs from near‐surface under 2.5 metres of transported cover in garnet‐bearing skarn alteration above a fault.

Hole ZX-18024 intersected similar garnet skarn alteration further to the north on this section with hole ZX-18021 intersecting skarn further to the south

Adding to the overall Alaska Range resource is the nearby Caribou Dome deposit which hosts a measured, indicated and inferred resource of 85,800 tonnes of copper.

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Wed, 15 Aug 2018 09:19:00 +1000 http://www.proactiveinvestors.com.au/companies/news/202901/polarx-hits-high-grade-gold-and-copper-alaska-range-resource-increase-expected-202901.html
<![CDATA[News - PolarX drills out visible copper sulphides in latest hole at Zackly ]]> http://www.proactiveinvestors.com.au/companies/news/202325/polarx-drills-out-visible-copper-sulphides-in-latest-hole-at-zackly-202325.html PolarX Ltd (ASX:PXX) has drilled out visible copper sulphides 350 metres outside the JORC resource at the Zackly copper-gold deposit within the Alaska Range Project in Alaska, US.

Drilling to date in the current program at Zackly continues to build the case for a larger JORC resource estimate at Zackly and in turn, an economic mining operation.

The latest hole returned an 11.4-metre down‐hole intersection of magnetite skarn mineralisation.

14 holes drilled in program to date

The current drilling program has now hit visible copper oxides 850 metres along strike from the resource, and visible gold and copper 300‐350 metres along strike from the resource.

Drilling has also intersected visible copper and gold 100 metres below the resource.

READ: PolarX attracts $3.9 million to accelerate exploration activities at the Alaska Range Project

As part of this drilling program, PolarX also aims to test the strong potential at Zackly for a deeper and much larger buried porphyry source.

PolarX believes a porphyry may be the source of the prominent magnetic anomaly at Zackly SE.

The Alaska Range Project hosts both the Zackly and Caribou Dome deposits.

Combined, they currently host 127,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver.

PolarX’s objective is to rapidly delineate a sufficient resource inventory to underpin feasibility studies on combined or stand‐alone mining operations.

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Tue, 07 Aug 2018 10:52:00 +1000 http://www.proactiveinvestors.com.au/companies/news/202325/polarx-drills-out-visible-copper-sulphides-in-latest-hole-at-zackly-202325.html
<![CDATA[News - PolarX attracts $3.9 million to accelerate exploration activities at the Alaska Range Project ]]> http://www.proactiveinvestors.com.au/companies/news/201696/polarx-attracts-39-million-to-accelerate-exploration-activities-at-the-alaska-range-project-201696.html PolarX Ltd (ASX:PXX) has received commitments to raise about $3.9 million via a placement of shares at 11 cents each.

The raising was heavily oversubscribed and was supported by institutional and retail investors in Australia, Asia, North America and Europe.

PolarX will use the funds to accelerate exploration and development activities on the Alaska Range Project in Alaska.

READ: PolarX drills copper sulphides 350 metres away from JORC resource

The funds will be primarily used to undertake a program of airborne and ground geophysical surveying and preliminary drilling.

First assays for the current drilling program at Zackly are expected in early August.

Target zones in the northern part of the Alaska Range Project

PolarX has planned a comprehensive exploration program including:

• Detailed helicopter magnetic survey over the Stellar property;
• Ground geophysical survey (induced polarisation) at the Mars and Zackly SE porphyry copper‐gold targets;
• Initial scout drilling at the Mars and Zackly SE porphyry copper‐gold targets;
• Additional resource extension drilling at the Zackly copper‐gold‐silver skarn deposit.

Location map showing main deposits and prospects at the Alaska Range Project

Last month, PolarX commenced drilling at the Zackly area within the Alaska Range Project as part of its strategy to rapidly grow the existing JORC resource and start feasibility studies.

Zackly already has a resource of 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver from surface over a strike length of 1 kilometre.

The mineralisation remains open at depth and along strike at each end and provides an immediate opportunity to create further substantial value for investors.

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Fri, 27 Jul 2018 11:24:00 +1000 http://www.proactiveinvestors.com.au/companies/news/201696/polarx-attracts-39-million-to-accelerate-exploration-activities-at-the-alaska-range-project-201696.html
<![CDATA[News - PolarX granted trading halt pending news of a capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/201497/polarx-granted-trading-halt-pending-news-of-a-capital-raising-201497.html PolarX Ltd (ASX:PXX) has been granted a trading halt by the ASX as it intends to release details of a capital raising.

The securities will remain in a trading halt until the earlier of the start of normal trading on Friday, July 27, or when the announcement is released to the market.

PolarX last traded at 13 cents, up from Tuesday's close of 12.5 cents.

READ: PolarX drills copper sulphides 350 metres away from JORC resource

Earlier this week the company received more encouraging drill results from its Alaska Range Project in Alaska.

There were 9.6 metres of copper sulphides observed in core from a hole 50 metres east of the JORC-compliant resource at the Zackly copper-gold deposit.

In addition, drilling has hit visible copper oxides 850 metres along strike from the resource, visible gold 300 metres along strike, and visible copper and gold 100 metres below the resource.

Potential resource expansion

The results support a resource expansion for the deposit with Zackly also remaining open at depth and along strike in both directions.

Alaska Range also hosts the Caribou Dome deposit and the project boasts a combined resource of 127,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver.

READ: PolarX concludes $2.52 million raise for Alaska Range copper‐gold project

Earlier this year PolarX completed a share placement to raise about $2.52 million from existing major shareholders and new investors via the issue of shares at 10.5 cents each.

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Wed, 25 Jul 2018 12:28:00 +1000 http://www.proactiveinvestors.com.au/companies/news/201497/polarx-granted-trading-halt-pending-news-of-a-capital-raising-201497.html
<![CDATA[News - PolarX drills copper sulphides 350 metres away from JORC resource ]]> http://www.proactiveinvestors.com.au/companies/news/201390/polarx-drills-copper-sulphides-350-metres-away-from-jorc-resource-201390.html PolarX Ltd (ASX:PXX) has received more encouraging drill results that support resource expansion for the Zackly copper-gold deposit within its Alaska Range Project, Alaska.

The company has visibly inspected 9.6 metres of copper sulphides drilled in a location 350 metres east of the standing Zackly JORC resource.

Significantly, in addition to this latest hole, the current drilling program has now hit visible copper oxides 850 metres along strike from the resource, visible gold 300 metres along strike from the resource and visible copper, and gold 100 metres below the resource.

Encouragingly, Zackly remains open at depth and along strike in both directions.

READ: PolarX intersects visible copper and gold 100 metres below high-grade inferred resource

The Alaska Range Project hosts both the Zackly and Caribou Dome deposits.

Combined, they currently host 127,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver.

PolarX’s objective is to rapidly delineate a sufficient resource inventory to underpin feasibility studies on combined or stand‐alone mining operations.

The Zackly resource occurs over a strike length of one kilometre and it is expected to increase as a result of the current drilling program

Porphyry upside at Zackly

As part of this drilling program, PolarX also aims to test the strong potential at Zackly for a deeper and much larger buried porphyry source. 

PolarX believes a porphyry may be the source of the prominent magnetic anomaly at Zackly SE

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Tue, 24 Jul 2018 12:38:00 +1000 http://www.proactiveinvestors.com.au/companies/news/201390/polarx-drills-copper-sulphides-350-metres-away-from-jorc-resource-201390.html
<![CDATA[News - PolarX intersects visible copper and gold 100 metres below high-grade inferred resource ]]> http://www.proactiveinvestors.com.au/companies/news/200899/polarx-intersects-visible-copper-and-gold-100-metres-below-high-grade-inferred-resource-200899.html PolarX Ltd (ASX:PXX) has hit visible copper and gold mineralisation around 100 metres below the nearest other drill hole at its Zackly prospect in Alaska.

The mineralisation is hosted within sub-vertical skarn alteration from 260.15 metres to 332.08 metres and visible gold was observed in four separate locations.

 

The skarn alteration and associated mineralisation at Zackly occurs in silty limestones and locally in andesitic-basalt volcanic rocks and dioritic intrusive rocks.

Steeply dipping faults appear to have produced repetitions of the rock sequence, including the mineralisation, which has potentially widened the mineralised zone down-dip.

 

READ: PolarX intersects visible copper and gold mineralisation at Alaska Range project

Previous results from the drilling program also intersected visible copper oxides 850 metres along strike from the resource, which remains open along strike in both directions and at depth.

The program comprises up to 25 holes for a total of around 5,000 metres of core drilling, designed to extend the Zackly resource along-strike and down-dip.

Six holes for around 1,042 metres have been completed and two are in progress.

Approaching economic scale

Along with Zackly, the Alaska Range project also includes the Caribou Dome deposit, which has a resource of 2.8 million tonnes at 3.1% copper for 85,500 tonnes of copper metal.

PolarX aims to delineate a sufficient high-grade copper-gold resource inventory between Zackly and Caribou Dome to underpin feasibility studies on combined or standalone operations.

Early soil sampling demonstrates almost the entire 35-kilometre belt within the project is mineralised with copper, gold and silver in various geological forms.

READ: PolarX about to start copper gold resource expansion drilling

The company also aims to test the strong potential at Zackly for a deeper and much larger buried porphyry source.

It believes a porphyry may be the source of the prominent magnetic anomaly.

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Mon, 16 Jul 2018 22:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/200899/polarx-intersects-visible-copper-and-gold-100-metres-below-high-grade-inferred-resource-200899.html
<![CDATA[News - PolarX intersects visible copper and gold mineralisation at Alaska Range project ]]> http://www.proactiveinvestors.com.au/companies/news/200633/polarx-intersects-visible-copper-and-gold-mineralisation-at-alaska-range-project-200633.html PolarX Ltd (ASX:PXX) has intersected visible copper oxide and gold mineralisation in the initial holes of a new drilling program at the Zackly copper-gold deposit in Alaska.

The drilling hit a 55 metre down-hole width of visible copper oxide mineralisation 850 metres along strike to the east of the Zackly resource, which is within the Alaska Range project.

Visible gold mineralisation was intersected 300 metres to the east of the resource.

 

The drill program comprises 25 holes for a total of around 5,000 metres of core drilling and aims to substantially extend the Zackly resource along strike and down-dip.

The visible copper mineralisation was seen commencing near the surface, below 2.5 metres of transported overburden.

It forms a broadly mineralised zone with variable amounts of copper oxides extending from 2.5 metres to 57.14 metres down-hole.

READ: PolarX begins drilling to expand copper-gold resource in Alaska

The width of the mineralisation observed in the drill hole indicates a potential large mineralised system.

Visible gold mineralisation was visible from 100.5 metres down-hole within a chloritised, mineralised breccia zone, around 0.9 metres thick.

Both holes extend the known mineralisation towards a prominent magnetic feature in the southeast of the Zackly deposit, which PolarX believes could be the porphyry source of mineralisation found to date.

Approaching economic scale

Along with Zackly, the Alaska Range project also includes the Caribou Dome deposit, which has a resource of 2.8 million tonnes at 3.1% copper for 85,500 tonnes of copper metal.

PolarX is delineating a sufficient high-grade copper-gold resource inventory between Zackly and Caribou Dome to underpin feasibility studies on combined or stand-alone operations.

The company aims to substantially increase the inferred resource at Zackly and is drilling towards what it believes may be a deeper and much larger buried porphyry source.

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Wed, 11 Jul 2018 22:22:00 +1000 http://www.proactiveinvestors.com.au/companies/news/200633/polarx-intersects-visible-copper-and-gold-mineralisation-at-alaska-range-project-200633.html
<![CDATA[News - PolarX begins drilling to expand copper-gold resource in Alaska ]]> http://www.proactiveinvestors.com.au/companies/news/199091/polarx-begins-drilling-to-expand-copper-gold-resource-in-alaska-199091.html PolarX Ltd (ASX:PXX) has commenced drilling at the Zackly area within the Alaska Range Project as part of its strategy to rapidly grow the existing JORC resource and start feasibility studies.

Two drills are on site and will drill about 5,000 metres in 23 holes designed to expand the known high-grade Zackly copper-gold skarn deposit along strike and at depth.

Helicopter slinging in fly rig components

Zackly already has a resource of 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver from surface over a strike length of 1 kilometre.

The mineralisation remains open at depth and along strike at each end and provides an immediate opportunity to create further substantial value for investors.

READ: PolarX concludes $2.52 million raise for Alaska Range copper‐gold project

The company recently completed a share placement to raise about $2.52 million from existing major shareholders and new investors via the issue of shares at 10.5 cents each.

The Alaska Range Project also includes the Caribou Dome deposit, which has a JORC resource of 2.8 million tonnes at 3.1% copper, containing 85,500 tonnes of copper.

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Tue, 19 Jun 2018 12:16:00 +1000 http://www.proactiveinvestors.com.au/companies/news/199091/polarx-begins-drilling-to-expand-copper-gold-resource-in-alaska-199091.html
<![CDATA[News - PolarX about to start copper gold resource expansion drilling ]]> http://www.proactiveinvestors.com.au/companies/news/197874/polarx-about-to-start-copper-gold-resource-expansion-drilling-197874.html PolarX Ltd (ASX:PXX) is about to commence drilling at its Alaska Range Project in Alaska as part of its strategy to rapidly grow the existing JORC resource and start feasibility studies.

The initial drilling program comprises 23 diamond drill holes designed to expand the known high‐grade Zackly copper‐gold skarn deposit.

READ: PolarX concludes $2.52 million raise for Alaska Range copper‐gold project

The Zackly deposit occurs over a strike length of 1 kilometre and already contains an estimated 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver.

Furthermore, the deposit is mineralised from surface.

The mineralisation remains open at depth and along strike at each end and provides an immediate opportunity to create further substantial value for investors.

Alaska Range Project also includes the Caribou Dome deposit

The Alaska Range Project also includes the Caribou Dome deposit, which has a JORC resource of 2.8 million tonnes grading 3.1% copper for 85,500 tonnes of copper.

PolarX aims to rapidly accumulate a sufficient copper‐gold inventory between Zackly and Caribou Dome to support feasibility studies on a combined operation or one or more stand‐alone operations. 

Well accessible project in a pro‐mining jurisdiction

PolarX’s high‐grade copper‐gold asset is in the mining friendly jurisdiction of Alaska with easy road/rail access to the all year port at Seward.

The company’s management has proven technical expertise and experience in permitting and successful mine development in the US.

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Wed, 30 May 2018 11:16:00 +1000 http://www.proactiveinvestors.com.au/companies/news/197874/polarx-about-to-start-copper-gold-resource-expansion-drilling-197874.html
<![CDATA[News - PolarX concludes $2.52 million raise for Alaska Range copper‐gold project ]]> http://www.proactiveinvestors.com.au/companies/news/197055/polarx-concludes-252-million-raise-for-alaska-range-coppergold-project-197055.html PolarX Ltd (ASX:PXX) has completed a share placement to raise about $2.52 million from existing major shareholders and new investors via the issue of shares at 10.5 cents each.

The funds will be used for exploration and development activities at the Alaska Range copper‐gold project in Alaska, US, initially for resource extension drilling at the Zackly deposit. 

Preparations for the 2018 field program are now well advanced with drilling scheduled to commence in a few weeks.

In March 2018, PolarX revealed a maiden JORC inferred resource of 3.4 million tonnes at 1.2% copper, 2 g/t gold and 14 g/t silver for the Zackly deposit.

READ: PolarX Ltd releases maiden JORC inferred resource at Zackly, validating historical data

The resource included 41,200 tonnes of copper and 213,000 ounces of gold, validating the historical non-JORC resource estimates previously defined at Zackly.

Importantly, Zackly remains open for extension along strike and at depth.

Well accessible project in a pro‐mining jurisdiction

PolarX’s high‐grade copper‐gold asset is in the mining friendly jurisdiction of Alaska with easy road/rail access to the all year port at Seward.

The company’s management has proven technical expertise and experience in permitting and successful mine development in the US.

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Wed, 16 May 2018 12:14:00 +1000 http://www.proactiveinvestors.com.au/companies/news/197055/polarx-concludes-252-million-raise-for-alaska-range-coppergold-project-197055.html
<![CDATA[News - PolarX prepares for resource expansion in Alaska following $2.5 million raise ]]> http://www.proactiveinvestors.com.au/companies/news/196695/polarx-prepares-for-resource-expansion-in-alaska-following-25-million-raise-196695.html PolarX Ltd (ASX:PXX) has received commitments to raise about $2.5 million from existing major shareholders and new investors via the issue of shares at 10.5 cents each.

The funds will be used for exploration and development activities at the Alaska Range Project in Alaska, US, including resource extension drilling at the Zackly deposit.

In March 2018, PolarX revealed a maiden JORC inferred resource of 3.4 million tonnes at 1.2% copper, 2 g/t gold and 14 g/t silver for the Zackly deposit.

READ: PolarX Ltd releases maiden JORC inferred resource at Zackly, validating historical data

The resource included 41,200 tonnes of copper and 213,000 ounces of gold, validating the historical non-JORC resource estimates previously defined at Zackly.

Importantly, Zackly remains open for extension along strike and at depth.

Extensional drilling scheduled to commence in June 2018

Additional diamond drilling has been planned to define potential extensions to the mineralisation below the known inferred resource, and along strike to the southeast. 

Preparations are now well advanced with drilling scheduled to commence in June 2018.

In addition to increasing the size of the resource at Zackly, PolarX aims to provide vectors towards the source porphyry intrusive centre which provided the mineralised fluids which formed the Zackly copper‐gold‐silver mineralisation.

Well accessible project in a pro‐mining jurisdiction

PolarX’s high‐grade copper‐gold asset is in the mining friendly jurisdiction of Alaska with easy road/rail access to the all year port at Seward.

The company’s management has proven technical expertise and experience in permitting and successful mine development in the US.

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Thu, 10 May 2018 12:47:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196695/polarx-prepares-for-resource-expansion-in-alaska-following-25-million-raise-196695.html
<![CDATA[Media files - PolarX prepares for immediate drilling at Zackly after raising $2.5 mln ]]> http://www.proactiveinvestors.com.au/companies/stocktube/9261/polarx-prepares-for-immediate-drilling-at-zackly-after-raising-25-mln-9261.html Thu, 10 May 2018 09:31:00 +1000 http://www.proactiveinvestors.com.au/companies/stocktube/9261/polarx-prepares-for-immediate-drilling-at-zackly-after-raising-25-mln-9261.html <![CDATA[News - PolarX enters trading halt ahead of capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/196003/polarx-enters-trading-halt-ahead-of-capital-raising-196003.html PolarX Ltd (ASX:PXX) has been granted a trading halt by the ASX pending the release of details regarding a capital raising.

The halt will remain the place until the earlier of the release of information regarding the capital raising or the commencement of trading on Wednesday 2 May 2018.

READ: PolarX advancing copper-gold assets in Alaska, maiden JORC resource at Zackly pending

PolarX is focused on the exploration of 35 kilometres of strike prospective for copper and gold within its Alaska Range Project in Alaska.

The project contains the Caribou Dome JORC resource measuring 2.8 million tonnes grading 3.1% copper.

Most recently, the company released a maiden JORC inferred resource for the Zackly copper-gold deposit within the project.

Zackly’s maiden resource comprises 3.4 million tonnes grading 1.2% copper plus 2.0 g/t gold and 14.0 g/t silver from the surface.

READ: PolarX Ltd releases maiden JORC inferred resource at Zackly, validating historical data

Both deposits are open in all directions and present significant additional upside potential for larger porphyry copper‐gold discoveries.

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Mon, 30 Apr 2018 10:52:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196003/polarx-enters-trading-halt-ahead-of-capital-raising-196003.html
<![CDATA[News - PolarX Ltd releases maiden JORC inferred resource at Zackly, validating historical data ]]> http://www.proactiveinvestors.com.au/companies/news/193417/polarx-ltd-releases-maiden-jorc-inferred-resource-at-zackly-validating-historical-data-193417.html PolarX Ltd (ASX:PXX) has released a maiden JORC inferred resource for the Zackly copper-gold deposit at its Alaska Range Project in Alaska.

The company has also outlined plans to commence extensive drilling at several prospects in the coming quarter.

The maiden resource comprises 3.4 million tonnes grading 1.2% copper plus 2.0 g/t gold and 14.0 g/t silver from the surface.

Shares traded almost 14% higher at 13 cents in early trade.

Managing director Frazer Tabaert said: “The fact that we have readily upgraded the resource to JORC standard while maintaining the same quantity of contained metal further underpins our confidence in the potential to significantly expand the project,”

Scope for resource expansion

Zackly remains open for extension along strike and at depth.

The resource delineation stemmed from PolarX’s maiden drilling program at the Alaska Range Project.

It included 41,200 tonnes of copper and 213,000 ounces of gold, validating the historical non-JORC resource estimates previously defined at Zackly.

Tabeart said: “There is now overwhelming evidence that the style of mineralisation and the geological setting is entirely consistent with the presence of large systems which can host truly world-class copper-gold porphyry intrusions.”

Part of much larger resource

Zackly is one of several deposits and prospects at the Alaska Range Project, where 35 kilometres of strike has been outlined with high-grade gold and copper from the surface.

The Caribou Dome deposit, which occurs 20 kilometres southwest of Zackly, has a JORC resource of 2.8 million tonnes at 3.1% copper.

READ: PolarX advancing copper-gold assets in Alaska, maiden JORC resource at Zackly pending

PolarX has also identified other prospects within the project area, with high-grade outcropping copper and gold in rock samples at established undrilled porphyry targets.

The company is finalising further exploration and drilling programs to grow the resources at Zackly and Caribou Dome, and to test the Mars and Moonwalk prospects.

This drilling is scheduled to start in the coming quarter.

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Tue, 20 Mar 2018 09:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193417/polarx-ltd-releases-maiden-jorc-inferred-resource-at-zackly-validating-historical-data-193417.html
<![CDATA[News - PolarX advancing copper-gold assets in Alaska, maiden JORC resource at Zackly pending ]]> http://www.proactiveinvestors.com.au/companies/news/193112/polarx-advancing-copper-gold-assets-in-alaska-maiden-jorc-resource-at-zackly-pending-193112.html PolarX Ltd (ASX:PXX) is focused on the exploration of 35 kilometres of strike prospective for copper and gold within its Alaska Range Project in Alaska.

The project contains the Caribou Dome JORC resource measuring 2.8 million tonnes grading 3.1% copper.

It also hosts the historical Zackly deposit which has a non-JORC estimate of 1.5 million tonnes grading 2.9% copper and 4.5 g/t gold.

Both deposits are open in all directions and present significant additional upside potential for larger porphyry copper‐gold discoveries.

READ: PolarX's screen fire assaying from Zackly returns substantially higher gold grades

Exploration priorities include extending the Zackly copper-gold deposit, extending the Caribou Dome copper deposit and exploring the Jupiter, Mars, Gemini, Senator and Moonwalk prospects.

A 13-hole 2,054-metre diamond drilling program was completed in the December 2017 half at the company’s 100% owned high‐grade Zackly copper‐gold prospect.

Assays from the first seven holes included 33.43 metres at 1.2% copper and 1.3 g/t gold from 98.27 metres.

Zackly copper-gold deposit maiden resource pending

Zackly consists of a non-JORC resource measuring 1.5 million tonnes grading 4.5 g/t gold and 2.9% copper which is open in all directions.

The resource is within the Zackly Main Skarn measuring 800x250x3 metres within a greater 4-5 kilometre trend with very limited drilling.

PolarX aims to upgrade the resource to JORC standard using the recently completed 13-hole diamond drill program.

The remaining drill results and maiden JORC resource are due in March 2018.

Deeper porphyry potential at Zackly

Geological evidence exists for a buried porphyry intrusive which provided heat, fluids and copper - evidence has been observed in several holes.

An induced polarisation (IP) survey has also been completed across the strike‐length of the existing Zackly deposit and will be used to plan additional drilling for the 2018 campaign.

Induced polarisation data shows copper-gold porphyry targets at Mars prospect

Results from the IP survey conducted for the Mars copper-gold prospect show a buried anomaly, now the main target of the prospect.

The target has a chargeability anomaly consistent with the top of a mineralised porphyry system located circa 100‐150 metres below surface.

Strong copper and gold assays at surface in both soil and rock‐chips grading up to 7.4% copper and 1.8 g/t gold have been identified directly above the IP anomaly over a 2-kilometre strike length.

This provides further evidence for a large new mineralised system.

The Mars prospect lies 6 kilometres from the Zackly deposit along a mineralised structural corridor which could potentially host several buried porphyry copper‐gold deposits including under Mars and Zackly.

The structural corridor is a high priority for future exploration.

Results from the IP survey conducted at the Senator copper target remain pending.

Caribou Dome likely to be targeted in 2018

Caribou Dome is a shallow, high-grade copper deposit with a JORC resource of 2.8 million tonnes grading 3.1% copper for 86,000 tonnes of contained copper.

60% of the sediment-hosted high-grade resource is in the top 150 metres including 935,000 tonnes at 4.4% copper.

The deposit is open in all directions and structural reinterpretation is underway targeting additional tonnages in 2018.

Upcoming news flow includes maiden JORC resource and exploration program

Upcoming news flow over the near term for PolarX will include:

• Finalise and publish assays for outstanding Zackly drill holes;
• Complete resource modelling for Zackly and publish JORC 2012 inferred resource;
• Appoint drill contractor for 2018 field season;
• Modelling and interpretation of IP data for Zackly, Mars and Senator; and
• Detailed planning and budgeting for 2018 exploration program for the Alaska Range Project.

Alaska Range Project extended in January 2018

PolarX’s focus on its Alaska Range Project was confirmed when the company increased the project’s area to 242.6 square kilometres earlier in 2018.

A total of 34 new mining claims have been staked and recorded in Alaska.

21 new claims secured extensions to both ends of the Mars prospect and 11 new claims secured potential extensions of the copper in soil anomalism at the Senator prospect.

Notably, two new claims were staked some 50 kilometres east of the Alaska Range Project to cover a vegetation anomaly.

PolarX believes this area to be prospective for copper sulphide mineralisation.

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Wed, 14 Mar 2018 11:02:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193112/polarx-advancing-copper-gold-assets-in-alaska-maiden-jorc-resource-at-zackly-pending-193112.html
<![CDATA[News - PolarX's screen fire assaying from Zackly returns substantially higher gold grades ]]> http://www.proactiveinvestors.com.au/companies/news/191256/polarx-s-screen-fire-assaying-from-zackly-returns-substantially-higher-gold-grades-191256.html PolarX Ltd (ASX:PXX) has received revised assays from its Zackly prospect at the Alaska Range Project in Alaska.

These have returned gold grades which are significantly higher than those reported in initial assays on the same samples.

The assays for the first five holes returned high‐grade results of up to 3.9% copper and 3.7 g/t gold.

READ: PolarX’s drilling confirms high‐grade copper‐gold at Alaska Range Project Average grade of 2.7 g/t gold is much higher

Historical reports and PolarX’s observations indicate that substantial amounts of coarse gold may be present at Zackly.

This led PolarX to resubmit 35 drill core samples for assay using a more appropriate screen fire assay technique.

This is generally accepted as more accurate in the circumstances.

The screen fire assays returned an average grade of 2.7 g/t gold, and the highest composite assay was 26.6 g/t gold over 1 metre.

In comparison, the initial assays on the same 35 drill core samples conducted in November and December contained an average grade of 1.97 g/t gold.

Results reflect nugget in nature of gold

In almost all cases, the grade of gold in the coarser fractions is significantly higher than the average grade of the sample, reflecting the nuggety nature of gold in the samples.

The remaining 100 core samples have now been submitted for screen fire assay and all future drill samples from Zackly will be assayed using this method.

Screen fire assays for copper are also expected soon.

These results will be used to calculate the maiden JORC resource estimate for Zackly, it is on track for completion in the March quarter.

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Wed, 07 Feb 2018 10:15:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191256/polarx-s-screen-fire-assaying-from-zackly-returns-substantially-higher-gold-grades-191256.html
<![CDATA[News - PolarX Ltd secures new area prospective for copper, gold in Alaska ]]> http://www.proactiveinvestors.com.au/companies/news/190868/polarx-ltd-secures-new-area-prospective-for-copper-gold-in-alaska-190868.html PolarX Ltd (ASX:PXX) has staked and recorded a total of 34 new state mining claims, boosting its Alaska Range Project and other project areas in Alaska to 242.65 square kilometres.

The new area covers potential extensions of the copper in soil anomalism at the Senator Prospect and extend both ends of the Mars‐Zackly copper‐gold porphyry corridor.

Elevated copper in soils identified

The Senator copper prospect was discovered through a soil sampling program undertaken by the company in 2016.

PolarX highlighted an area covering circa 5 kilometres by 2.5 kilometres with elevated copper in soils (>100ppm copper) and sporadic outcrop.

Furthermore, recent site visits have highlighted the potential of this area having identified intense iron alteration and the presence of copper oxides on fracture surfaces.

Mars prospect characterised by co‐incident copper and gold

A block of 11 new state mining claims has been staked to secure ground to the south‐east of the known copper anomalism.

The Mars prospect is characterised by co‐incident copper, gold, molybdenum and silver anomalism in broadly spaced soil samples over a large area of circa 2,000 metres x 1,500 metres.

Up to 7.4% copper and 1.8 g/t gold are evident in rock‐chip samples.

Mars lies 6 kilometres to the northwest of the high‐grade Zackly copper‐gold Skarn, where recent drilling by PolarX has confirmed the presence of thick zones of mineralisation from the surface.

READ: PolarX’s drilling confirms high‐grade copper‐gold at Alaska Range Project

Two of the 34 state mining claims were staked to cover a vegetation anomaly circa 50 kilometres to the east of the Alaska Range Project.

The nature of the vegetation anomaly is believed to represent prospectivity for copper sulphide mineralisation in the bedrock.

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Wed, 31 Jan 2018 11:31:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190868/polarx-ltd-secures-new-area-prospective-for-copper-gold-in-alaska-190868.html
<![CDATA[News - PolarX director increases indirect interest in company through share purchases ]]> http://www.proactiveinvestors.com.au/companies/news/188828/polarx-director-increases-indirect-interest-in-company-through-share-purchases-188828.html PolarX Limited (ASX:PXX) executive director Jason Berton has increased his indirect interest in the company through on-market share purchases.

The interest is held through Orogen Investments Pty Ltd, which holds 5.1% of PolarX.

Berton has this month acquired 33,106 shares in the company, which was formerly Coventry Resources Limited.

WATCH: PolarX CEO ‘very pleased’ with initial drill results from Alaska

PolarX is focused on the exploration of 35 kilometres of strike across its Alaska Range Copper-Gold Project in Alaska.

READ: PolarX eyes maiden JORC resource at Zackly copper‐gold deposit

Alaska Range comprises the Caribou Dome deposit with a resource of 2.8 million tonnes at 3.1% copper, and the recently acquired Stellar project.

The company is revising an existing historical resource estimate at the Zackly deposit within the Stellar project. 

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Fri, 15 Dec 2017 08:54:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188828/polarx-director-increases-indirect-interest-in-company-through-share-purchases-188828.html
<![CDATA[News - PolarX eyes maiden JORC resource at Zackly copper‐gold deposit ]]> http://www.proactiveinvestors.com.au/companies/news/188310/polarx-eyes-maiden-jorc-resource-at-zackly-coppergold-deposit-188310.html PolarX Limited (ASX:PXX) has received more high‐grade intersections of copper and gold from the Zackly deposit at the Alaska Range Project in Alaska, U.S.

These new assay results from the two latest holes further confirm the presence of wide copper and gold mineralisation.

Results include 18.44 metres at 1.3% copper and 1.2 g/t gold from 169.5 metres.

The results will be included in a revision of the existing historical resource estimate to upgrade it to JORC standard in the next quarter.

READ: PolarX’s drilling confirms high‐grade copper‐gold at Alaska Range Project

The assays from the latest two holes follow-up the recent assays for the first five holes.

Highlights from the latest results include 18.44 metres at 1.3% copper and 1.2 g/t gold from 169.5 metres and 5.85 metres at 1.2% copper and 2.2 g/t gold from 88.8 metres.

These results complement the recent first batch of assays which featured intersections of 33.43 metres at 1.2% copper and 1.3 g/t gold from 98.27metres.

WATCH: PolarX CEO ‘very pleased’ with initial drill results from Alaska

A total of 13 holes were drilled, 11 of which were designed to twin or validate existing drill intersections and better define the deposit.

Furthermore, the latest holes often intersect mineralisation over significantly wider intercepts than the historical holes.

Zackly consists of a non-JORC resource measuring 1.5 million tonnes grading 4.5 g/t gold and 2.9% copper which is open in all directions.

PolarX aims to upgrade the resource to JORC standard using the recently completed 13-hole diamond drill program.

Assays for remaining six holes imminent

Assay results for the remaining six holes at Zackly are expected within weeks. 

PolarX will use this information to re‐model the deposit and calculate a JORC resource estimate which it aims to publish in the first quarter of 2018.

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Wed, 06 Dec 2017 08:55:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188310/polarx-eyes-maiden-jorc-resource-at-zackly-coppergold-deposit-188310.html
<![CDATA[Media files - PolarX CEO ‘very pleased’ with initial drill results from Alaska ]]> http://www.proactiveinvestors.com.au/companies/stocktube/8454/polarx-ceo-very-pleased-with-initial-drill-results-from-alaska-8454.html Thu, 30 Nov 2017 11:35:00 +1100 http://www.proactiveinvestors.com.au/companies/stocktube/8454/polarx-ceo-very-pleased-with-initial-drill-results-from-alaska-8454.html <![CDATA[News - PolarX’s drilling confirms high‐grade copper‐gold at Alaska Range Project ]]> http://www.proactiveinvestors.com.au/companies/news/187683/polarxs-drilling-confirms-highgrade-coppergold-at-alaska-range-project-187683.html PolarX Limited (ASX:PXX) has confirmed wide, high‐grade intersections of copper and gold from drilling the Zackly deposit at the Alaska Range Project in Alaska, U.S.

The assays for the first 5 holes returned high‐grade results of up to 3.9% copper and 3.7 g/t gold.

Significantly, these initial results confirm the presence of high‐grade copper and gold mineralisation at the Zackly deposit from near the surface.

The results will help underpin a revision of the existing historical copper and gold resource to JORC standard, which is scheduled for the coming quarter.

The drilled grades exceed those from historical drilling

A total of 13 holes were drilled, 11 of which were designed to twin or validate existing drill intersections and better define the deposit.

Significant results from the first five holes include:

- 14.5 metres at 2.5% copper and 2.0 g/t gold from 34.9 metres;
- 5.3 metres at 2% copper and 2.7 g/t gold from 9.7 metres; and
- 3.5 metres at 3.9% copper and 2.2 g/t gold from 99.1 metres.

The assay grades are broadly consistent with or exceed those from drilling done in the early 1980s upon which a historical resource of 1.5 million tonnes at 2.9% copper and 4.5 g/t gold was calculated.

PolarX drilled larger diameter core than the previous explorers at Zackly, meaning a greater level of sample confidence has been gained. 

Importantly, some of the new holes also measure mineralisation over significantly wider intercepts than the twinned historical holes.  

Revised resource estimate on the cards

Zackly lies 6 kilometres to the east of the Mars prospect along a mineralised structural corridor which may host several buried porphyry copper‐gold deposits including underneath Mars and Zackly.

This corridor is now a high priority target for PolarX at the Alaska Range Project.

Assay results for the remaining eight holes are expected in December 2017. 

PolarX is aiming to re‐model the deposit and calculate a revised resource estimate which is expected to be published in the coming quarter.

Background

The recently formed PolarX brings together multiple Alaskan assets under the “Alaska Range Project”.

The project contains high‐grade existing resources and numerous large unexplored advanced targets within a 35 kilometre mineralised belt.

READ: PolarX shares continue run, copper-gold assays imminent ]]>
Thu, 23 Nov 2017 13:41:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187683/polarxs-drilling-confirms-highgrade-coppergold-at-alaska-range-project-187683.html
<![CDATA[News - PolarX shares continue run, copper-gold assays imminent ]]> http://www.proactiveinvestors.com.au/companies/news/187260/polarx-shares-continue-run-copper-gold-assays-imminent-187260.html PolarX (ASX:PXX) is focused on the exploration of 35 kilometres of strike across its Caribou Dome Copper Project and recently acquired adjacent Stellar Project located in Alaska.

The two projects form a new high‐grade copper-gold portfolio featuring two deposits open in all directions and significant additional upside potential for larger porphyry copper‐gold discoveries.

Exploration priorities include extending the Zackly copper-gold deposit, extending the Caribou Dome copper deposit and exploring the Mars, Senator and Moonwalk prospects.

Most recently, a 13-hole 2,054-metre diamond drilling program was completed at the company’s 100% owned high‐grade Zackly copper‐gold prospect.

First assays from the drilling are expected during November 2017.

Zackly copper-gold prospect

Zackly consists of a non-JORC resource measuring 1.5 million tonnes grading 4.5 g/t gold and 2.9% copper which is open in all directions.

The resource is within the Zackly Main Skarn measuring 800x250x3 metres within a greater 4-5 kilometre trend with very limited drilling.

PolarX aims to upgrade the resource to JORC standard using the recently completed 13-hole diamond drill program, for which assays are pending and expected shortly.

Pre-assay analysis shows that drilling has revealed thick zones of visible mineralisation, including high-grade copper sulphides and evidence of native copper.

Furthermore, geological evidence exists for a buried porphyry intrusive which provided heat, fluids and copper - evidence has been observed in several holes.

An induced polarisation (IP) survey has also been completed across the strike‐length of the existing Zackly deposit and will be used to plan additional drilling for the 2018 campaign.

Induced polarisation data received for Mars prospect

Results have been received from the IP survey conducted for the Mars copper-gold prospect.

The target has a chargeability anomaly consistent with the top of a mineralised porphyry system located circa 100‐150 metres below surface.

Strong copper and gold assays at surface in both soil and rock‐chips grading up to 7.4% copper and 1.8 g/t gold have been identified directly above the IP anomaly over a 2-kilometre strike length.

This provides further evidence for a large new mineralised system.

The Mars prospect lies 6 kilometres from the Zackly deposit along a mineralised structural corridor which could potentially host several buried porphyry copper‐gold deposits including under Mars and Zackly.

The structural corridor is a high priority for future exploration.

Results from the IP survey conducted at the Senator copper target remain pending.

Caribou Dome

Caribou Dome is a shallow, high-grade copper deposit with a JORC resource of 2.8 million tonnes grading 3.1% copper for 86,000 tonnes of contained copper.

60% of the sediment-hosted high-grade resource is in the top 150 metres including 935,000 tonnes at 4.4% copper.

The deposit is open in all directions and structural reinterpretation is underway targeting additional tonnages in 2018.

Immediate plan for PolarX

The company’s short term schedule includes:

- Visual discovery confirmation at Zackly (Complete)
- IP survey at Zackly, Senator and Mars (Complete, results pending for Senator);
- Drilling assay results for Zackly (Results expected from November); and
- Caribou Dome exploration update (December); and
- Zackly resource upgrade (early 2018).

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Wed, 15 Nov 2017 08:19:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187260/polarx-shares-continue-run-copper-gold-assays-imminent-187260.html