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.
The Zackly East skarn has been geologically mapped and geochemically evaluated by PolarX and may reach an impressive 600m in length, according to the company. The beauty of Zackly East is that it outcrops right at surface and is lying sub horizontally - lowering the stripping ratio of any potential mining scenario to next to nothing.
Another stellar intercept from previous drilling at Zackly East was a 47m interval grading 3.1g/t gold and 0.6 per cent copper, possibly making the average width of the deposit quite substantial.
PolarX’s Alaska Range project also contains the Zackly Main deposit that already holds an inferred resource of 41,000 tonnes of copper, 213,000 ounces of gold and 1.5m ounces of silver. Zackly East is located about 800m from the Zackly Main deposit.
Diamond drilling at Zackly East will examine down dip continuity of the mineralisation and step out to the east on 50m to 100m sections.
Two diamond rigs are expected to arrive next week and the company said a field camp will be in place this week to support the drilling program which is planned to run over about eight weeks.
Last month, the Perth based company said it received firm commitments from investors to raise around $3.76m and it also intends to raise up to another $1m in a share purchase plan, which will close this Wednesday.
Is your ASX listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
