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.
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.