PolarX is an advanced ASX-listed mineral explorer and developer (ASX: PXX) with rapidly growing high-grade Copper, Gold and Silver projects in USA.
A positive 2022 mining Scoping Study demonstrated the commercial potential of PolarX’s existing JORC resources. The Study is being upgraded again in 2023 to accommodate a substantially larger resource which remains open in all directions.
Alaska Range: Stellar Property (100% PXX)
- 4.0Mt @ 1.1% Cu + 1.6g/t Au + 12.6g/t Ag JORC at Zackly Project remains open in all directions.
- New 2.6km long surface extension target confirmed by drilling.
- Metallurgical test work is ongoing at Zackly to assess copper/gold sulphide flotation and coarse gold recovery.
- Potential joint mining and co-processing options have been assessed in a positive mining Scoping Study.
- Also highly prospective for large, bulk tonnage porphyry copper-gold deposits with maiden discovery (102m @ 0.22% Cu + 0.1g/t Au) at the Mars prospect.
Alaska Range: Caribou Dome Property (PXX earning up to 90%)
- 7.2Mt @ 3.1% Cu + 6.5g/t Ag JORC at Caribou Dome deposit incl. high grade surface zones at 4.4% Cu.
- Only modelled from surface down to 300m depth.
- Already identified depth potential down to 450m.
- Mineralisation remains open in all directions, and numerous untested IP/geochemical targets.
- PolarX’s recent drilling program generally showed higher grades and widths than predicted.
HIGH-GRADE JORC RESOURCES
Near-surface Copper and Copper equivalent grades of 4% and 5.5% respectively compare favourably with some of the world’s highest grade operating mines. Mining Scoping Study demonstrates how high grades could allow an initially small-scale yet highly profitable development.
- One of PolarX’s greatest advantages is the high-grade nature of its deposits.
- The JORC resource grade at Caribou Dome is 3.1% Copper plus 6.5g/t Silver and the JORC resource grade at Zackly is 1.2% Copper plus 2.0g/t Gold and 14g/t Silver.
- Both the Zackly and Caribou-Dome deposits remain open in all directions.
- PolarX’s recently drilled discoveries at Caribou Dome are typically of higher grade and width than historical holes drilled.
Exploration and development programs are designed to initially bring the 100% owned Zackly Deposit and up to 90% controlled Caribou-Dome Deposit into early production whilst much larger new porphyry targets such as Saturn and Mars (100%), are tested and if successful, advanced to resource/reserve status with the assistance of a major miner as JV Partner.
Existing resources at Alaska Range are currently progressing through an updated 2023 Mining Scoping Study assessment whilst PolarX continues to rapidly expand them. This targeted exploration approach is designed to deliver maximum economic benefit.
Soil sampling demonstrated almost the ENTIRE 35km Alaska Range belt is mineralised with Copper, Gold and Silver from surface in various geological forms. PolarX believes this evidences one or more large porphyry copper/gold systems of the same type hosting the world’s largest mines.
PolarX discovered porphyry mineralisation at its Mars prospect in its first ever drill hole.
Humboldt Range, Nevada: (100% PXX)
- Nevada produces over 75% of USA’s gold each year.
- Consistently voted as the best exploration and mining jurisdiction worldwide.
- Humboldt Range lies between the 5Moz Florida Canyon Gold mine, and the rapidly growing 4Moz+ Spring Valley Gold Project and 400Moz Rochester Silver mine (which also contains 3.5Moz gold), in the same geology.
- 3km long soil anomalies.
- Outcropping quartz veins and historical mines show numerous assays well over 10g/t gold, with peak values of 3,384g/t gold, 4,800g/t silver, 22.9% lead and 3.1% Zinc.
- Surface channel sampling assayed 69m @1.1g/t gold and 7.65g/t Ag.
- Major sampling and survey program conducted by PolarX.
- PolarX’s first drilling showed broad scale low grade gold and silver potential in most holes and included a high grade intercept of 9.1m @124.36g/t gold and 48.6g/t silver.
- 2023 geophysical survey being conducted to target regional scale bulk tonnage gold/silver targets prior to drilling.
PolarX’s initial work at Humboldt Range has already revealed multiple extremely high grade Gold and Silver bearing veins more than 1km long within even larger Gold and Silver soil anomalies up to 3km long.
PolarX believes this may indicate potential for large scale mining like its neighbours who currently mine the same geology. A project-wide geophysics program (IP), is being undertaken to help target the highest sulphide concentrations prior to broad spaced drilling.
Black Range (below), shows spectacular grades lies alongside a 5Moz producing gold mine yet has never been drilled.
Fourth of July to the south is similarly along strike from a currently operating 400Moz Silver and 3Moz Gold mine.
PolarX’s skilled team has a history of identifying world class geological opportunities with good infrastructure, consolidating them into cohesive projects, then scientifically exploring to discover and develop successful mines.
PolarX 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 and Nevada, USA.
YEAR-ROUND VALUE GENERATION
Both Alaska and Nevada already host many of the world’s largest and highest grade gold, copper and silver mines with similar geology to PolarX’s projects.
PolarX’s assets combine existing high-grade resources and impressive exploration upside in two of the world’s best and safest mining regions with road access and excellent nearby infrastructure. Together they allow continuous activity and results.