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PolarX Limited (ASX: PXX) is pleased to advise that it has initiated a full review of the resource model and will undertake a new drilling program to grow the high-grade copper inventory at its Caribou Dome project in Alaska.
The strategy stems from the exceptional infill drilling results announced on February 23, 2022, which contained grades of mineralisation which exceed those predicted by the resource block model.
PolarX drilled four holes at Caribou Dome in August/September 2021 to provide samples of copper mineralisation for metallurgical test work (see Figures 3 to 5). The holes were drilled into zones of copper mineralisation hosted in massive to semi-massive sulphides with locations exactly as predicted by the resource block model used for resource estimation in April 2017.
Initial evaluation of the results also found that the very high-grade mineralisation has not been closed off at depth or along strike. The potential for down-dip extensions of known mineralisation is shown in the cross-section in Figure 5, where the mineralisation remains open below two lenses of copper sulphides which assayed 19.1m @ 7.0% Cu + 11.2g/t Ag, and 5.7m @ 7.3% Cu + 7.5g/t Ag. These intersections also remain open along strike to the east (Figure 4).
A new program of drilling is being designed to test these and other extensions to the known high-grade copper mineralisation.
PolarX Executive Chair Mark Bojanjac said: “These results show there is scope for significant growth in the Caribou Dome Resource. The high grades and the density of the mineralisation exceed our resource model and it remains open along strike and at depth”.
This article includes content from PolarX, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.