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PolarX eyes maiden JORC resource at Zackly copper‐gold deposit

Shares are up 45% year to date, last traded at $0.125.
Map showing drill results to date at Zackly deposit
Mineralisation remains open along strike and at depth

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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