Sign up Australia
Proactive Investors - Run By Investors For Investors

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

The results will be used to calculate the maiden JORC resource estimate for Zackly.
Map of Alaska
A maiden JORC resource estimate is on track to be completed in the March quarter

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.

View full PXX profile View Profile

PolarX Ltd Timeline

Related Articles

September 27 2018
Rainbow's Gakara project is one of the highest grade rare earths operations in the world
Picture of pilot plant
April 05 2018
An impressive pre-feasibility study features a pre-tax valuation of $227 million for start-up capital expenditure of $65 million.
project area
October 10 2018
The company has identified extensive copper-nickel-cobalt mineralisation at the Mt Venn Project outlined over several kilometres.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use