PolarX is an advanced ASX-listed mineral explorer and developer (ASX: PXX). The recently restructured and renamed PolarX brings together the exciting Alaskan assets of Coventry Resources and Vista Minerals. High-Grade existing resources and numerous large unexplored yet advanced targets are within an impressive 35km mineralised belt now directly under PolarX’s control.
Current copper and Copper equivalent grades of 4% and 5.5% respectively compare favourably with some of the world’s highest grade operating mines. This allows an initially small-scale highly profitable development.
One of the Company’s greatest advantages is the high grade nature of its deposits. The JORC resource grade at Caribou Dome is 3.1% Cu and the 1993 Historic non-JORC grade estimate at Zackly is 2.9% Cu. If gold credits from Zackly (4.51g/t) are considered, the combined grade at Zackly lifts to 5.5% Cu equivalent at current Copper and Gold prices. Both the Zackly and Caribou-Dome deposits remain open in all directions. No targets outside the existing resources have ever been drill-tested prior to PolarX.
Exploration and development programs are designed to initially bring the 100% owned Zackly Deposit and 80% controlled Caribou-Dome Deposit into early production whilst much larger new targets such as Senator (90%) and Mars (100%), are tested and if successful, advanced to resource/reserve status.
Both existing deposits are expected to progress to feasibility assessment in the near future whilst they continue to rapidly expand. Early environmental baseline surveys are underway and specialists have been engaged to assist in advancing through the future mine permitting process.
Early soil sampling work demonstrates almost the ENTIRE 35km belt is mineralised with Copper, Gold and Silver from surface in various geological forms.
Opportunity for further discoveries is not limited by scale. The known high-grade surface deposits at Caribou-Dome and Zackly comprise only 2km of 35km (or 6%), of the mineralised strike. Outside those, there is extensive clear potential to discover significant bulk-mineable deposits including:
- Porphyry copper-gold systems
- Related Skarns
- Intrusion related gold deposits, and
- Sedimentary deposits.
PolarX has consolidated this entire region and has assembled an accomplished technical and commercial team in Australia with a proven record of delivering projects into production and a well-established technical and operational team in Alaska, USA. Shareholders, Mitchell River Group in Perth and Millrock Resources Inc. in Alaska each provide technical and on-ground operational assistance to PolarX’s management as required.
For the first time, PolarX’s integration will allow complete holistic regional exploration and development. It immediately combines existing substantial high-grade resources and provides impressive exploration upside potential in one of the world’s best mining regions with road access and excellent nearby infrastructure in Alaska, USA.
Alaska already hosts many of the world’s largest and highest grade gold and copper mines in similar geology to PolarX’s package. Members of the team have operated in Alaska for over 20 years and have been directly involved in 2 of those more recent large discoveries at Pebble and at Donlin Creek.