News Articles for PolarX

PolarX continues to grow its Zackly copper-gold discovery in Alaska with drilling outside the main resource area intersecting broad zones of gold-rich mineralisation including 24.5m at 1.24 g/t gold and 0.6 per cent copper which also hosts a higher-grade core of 11.2m at 2.45 g/t gold and 1.1 per cent copper from only 52.6m down-hole with further results expected in the coming weeks.

PolarX has set the date for two diamond drill rigs to arrive on site at its exciting Zackly East gold-copper prospect at its USA based Alaska Range project. Around 3,000 metres of diamond drilling is planned to follow up on previous broad, high-grade gold and copper hits including an impressive 55m intersection grading 2.8 grams per tonne gold and 0.6 per cent copper.

PolarX has received firm commitments from investors to raise around $3.76m, which will be largely used for drilling at its exciting Zackly East gold-copper target at the Alaska Range project in the US where previous results included a whopping 55m hit grading 2.8 grams per tonne gold with 0.6 per cent copper thrown in for good measure.

PolarX has its elephant gun firmly trained on the elephant sized mineral deposits in Alaska with the ASX listed company getting set to undertake follow up drilling of its extraordinary 55m long drill hit that showed 2.8 grams per tonne gold and 0.6% copper. Whilst the Zackly Main Skarn is already showing 213,000 ounces of gold, the real prize appears to be at Zackly East.

ASX-listed PolarX's Alaska Range project in the US is starting to look interesting with recent boots on the ground work identifying a potential 600-metre extension to the Zachly East Skarn, which already plays host to a one kilometre long mineralised system and a resource of 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver, right from surface.

PolarX's suspicions that it might be sitting on a significant porphyry-style copper-gold-molybdenum mineralised system at its Alaska Range project in the US appear to have been confirmed by the first diamond assays returned from the Mars prospect. Whilst still early days, if this proves to be the case, the Perth-based company may one day find itself rubbing shoulders with some of the world's largest copper miners.

PolarX has hit it in one with a very long diamond hole drilled into an identified IP anomaly producing 400m of visible sulphides within porphyry-style mineralised vein sets and associated alteration at the Mars porphyry copper-gold target in central Alaska, USA. Previous surface sampling at Mars recorded anomalous gold, copper and molybdenum and the company is now eagerly awaiting assays to confirm the tenor of the mineralisation.

PolarX has unearthed visible sulphides within porphyry-style mineralised vein sets and associated hydrothermal alteration in the first 300 metres of a drill hole at its Mars porphyry copper/gold target in Alaska, USA. Previous surface geochemical sampling at Mars recorded anomalous gold, copper and molybdenum and the company is now eagerly awaiting assays to confirm the tenor of the porphyry-related mineralisation.

PolarX has delineated large chargeable anomalies using data from a recent geophysical survey and commenced diamond drilling at the Saturn porphyry copper-gold target within its Alaska Range project in the US. The company said that the data returned from Saturn is consistent with porphyry copper exploration models worldwide and shows potential prospectivity for disseminated sulphides and a quartz-veined stockwork ore system.

PolarX will shortly commence drilling at both its intriguing Saturn porphyry copper-gold target and Zackly copper-gold skarn deposit, located within its Alaska Range project in the US. The company has initiated geophysical surveys at Saturn to help determine the final drill hole positions and it is planning to start a resource extension drilling program at Zackly to grow the existing mineral resource.

Assorted minor corporate finance deals not covered in the previous week's articles.

PolarX will undertake a $4.3 million rights issue, less than a week after it secured the same amount via an earn-in investment from Lundin Mining.

Junior explorer PolarX has boosted its coffers with a $3.9 million capital raising, with the proceeds to fund the company's exploration program at its Alaska Range project.

Titanium Sands has raised $300,000 by way of a sophisticated investor placement of 42,857,142 fully paid ordinary shares at $0.007 per Share.

Subiaco-based Coventry Resources will be rebranded after completing the $8.3 million acquisition of a gold explorer focused on projects in Alaska, and announcing plans for a $10 million raising.

Ian Veitch has resigned as company secretary at Orbital Corporation. Todd Alder has been appointed chief financial officer and company secretary, and is responsible for communications with AS

Junior explorers Coventry Resources, Metals of Africa and Consolidated Zinc have tapped investors to raise a combined $13.7 million to fund ongoing development of their respective projects.

Former Alinta chief financial officer John Cahill has been appointed as an independent non-executive director at Toro Energy.

Chalice Gold Mines founder and executive chairman Tim Goyder has taken the role of managing director in a series of board changes that include Bill Bent stepping down from the position today.

West Perth-based Chalice Gold Mines has made an offer to merge with Canadian gold developer Coventry Resources as it seeks to find assets to boost its cash flow.

Coventry Resources has appointed Steven Chadwick as interim president and CEO, followingthe resignation of Mike Naylor for medical reasons. Mr Chadwick has been