PolarX Ltd (ASX:PXX) managing director Frazer Tabeart updates Proactive on first drilling results from the Mars and Saturn prospects in the Alaska Range project in Alaska.
The drilling at Mars intersected porphyry-style veins containing visible copper and molybdenum sulphides.
Tabeart said the alteration, vein composition, vein morphology and presence of copper and molybdenum sulphides were consistent with magmatic hydrothermal mineralisation potentially related to a nearby porphyry deposit.
At Saturn drilling has identified geology, alteration patterns and local hydrothermal veining consistent with a deeper porphyry source.
PolarX is awaiting assays from the drilling which may also reveal gold content.