PNX Metals' Fountain Head Gold Project development activities remain on time and on-budget
- PNX Metals high-grade surface rock chips highlight potential for Glencoe gold deposit extensions
- PNX Metals tables positive PFS supporting long-term gold, silver, zinc project development
- PNX Metals begins drilling at Fountain Head gold project
Quick facts: PNX Metals Ltd
Price: 0.0065 AUD
Market Cap: $23.74 m
About the company
PNX Metals Ltd (ASX:PNX) has a large tenement portfolio containing a mix of gold, silver and zinc assets in the Pine Creek region of the Northern Territory.
Total contained gold in PNX’s projects to date is close to 400,000 ounces.
The advanced Fountain Head Project hosts a mineral resource of 2.94 million tonnes at 1.7 g/t gold for 156,000 ounces of gold.
How it is doing
New surface rock chip sampling taken during geological mapping up to 400 metres east of the existing Glencoe gold deposit has returned high-grade gold, including:
In addition, geological mapping and face sampling within the historic Glencoe open pits has strengthened PNX’s geological understanding and also returned high-grade gold, including:
PNX managing director James Fox said: “These new high-grade rock chip results support our view that the Glencoe gold deposit extends well beyond the limits of historic drilling.
PNX Metals Ltd (ASX:PNX) has intersected new zones of near-surface high-grade gold mineralisation at the Glencoe deposit, 170 kilometres south of Darwin and 3 kilometres north of the Fountain Head Gold Project in the Northern Territory’s Pine Creek region.
Highlights from the latest reverse circulation drilling include:
The gold explorer set out to define near-surface mineralisation at the precious metals project with the potential to augment its existing mine plan.
Insight: PNX Metals tables positive PFS supporting long-term gold, silver, zinc...
PNX Metals Ltd's (ASX:PNX) positive pre-feasibility study (PFS) outlines the technical and financial payoff involved with bringing its Fountain Head gold and Hayes Creek gold-silver-zinc projects into production.
The gold and base metal producing hopeful presented the study this morning, breaking down the estimated financial performance and production metrics linked to its Northern Territory assets.
What management says
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