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PNX Metals Ltd

PNX Metals commences follow-up drilling for gold at Cookies Corner

Three of the 20 holes planned will extend recent holes that ended in mineralisation.

map of australia showing location of NT projects
Cookies Corner is one of a cluster of new gold targets within the Burnside Project

PNX Metals Ltd (ASX:PNX) has commenced a follow-up drill program at the Cookies Corner gold prospect within the Burnside Project in the Pine Creek region of the Northern Territory.

The 20-hole, 1,800-metre reverse circulation (RC) program follows up the recent maiden program which intersected gold mineralisation over a continuous 500-metre strike.

Highlights from maiden drilling included 20 metres at 1.93  g/t gold from 12 metres including 8 metres at 4.29 g/t gold.

This follow-up program is expected to take up to three weeks to complete with initial assay results due in December.

READ: PNX Metals identifies gold mineralisation at Cookies Corner prospect in NT

PNX’s managing director James Fox said: “We are excited to commence stage II drilling at Cookies Corner which is designed to test for extensions to gold mineralisation discovered in our successful initial drill program.

“We look forward to receiving the results of this new drill program which will assist in building our understanding of the controls over the gold mineralisation at Cookies Corner, and to then apply this knowledge to a number of other untested similar gold in soils anomalies in the area.”

READ: PNX Metals pursuing two work streams in parallel

The Burnside exploration project is in the Pine Creek region, an area which has produced over 3.2 million ounces of gold.

Furthermore, the project is less than 30 kilometres from PNX’s flagship Hayes Creek Zinc-Gold-Silver Project.

Drilling at Cookies Corner is part of a broader exploration campaign with the objective of making discoveries to either supplement Hayes Creek or operate as standalone mining operations.

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PNX Metals drilling prospects near Hayes Creek Project as DFS continues

PNX Metals Ltd (ASX:PNX) managing director and CEO James Fox speaks to Proactive Investors about the multi-commodity exploration and development company's Northern Territory operations. The company is focused on the development of its flagship Hayes Creek zinc-gold-silver project, and...

on 26/6/18

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