PolarX lays out schedule for Alaskan gold discovery

PolarX has laid out a schedule for when the company expects to be receiving further copper and gold results from its Alaskan copper-gold discovery at Zackly. It would appear that on top of the challenges posed by exploration in the arctic wilds, the current surge in exploration activity across the globe has caught many laboratories by surprise with delays in reporting being experienced by most mining and exploration companies. These delays are extending from weeks into months, sometimes leading to agitation amongst investors.

In an unusual move, and perhaps a savvy play aimed at quenching the market’s insatiable thirst for quick results, PolarX has detailed a schedule for the expected reporting of drilling assays from its growing Zackly copper-gold discovery in the Alaska Range. The company recently completed its 2020 drilling program across the eastern extensions of the copper-gold prospect, with 3,131m of diamond drilling testing almost a kilometre of strike along the interpreted mineralised structure.

Sampling of the 23 diamond drill holes has been completed, with skarn-style alteration and copper sulphides observed in most drill holes.

Assay results for the first six holes of the program have been received, returning tantalising results including a solid 24.5m at 1.24 g/t gold and 0.6 per cent copper and 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.

The company has hinted that, with the sample from 17 drill holes still in the lab, the best may be yet to come. It has detailed a timeframe in which the company’s assaying contractors expect to report a stream of results over the coming weeks.

PolarX’s laboratory has already reported the results from diamond holes ZX20035 to 40, with assays from a further five holes, ZX20041 to 45, expected in early to mid-November. These results will be followed by a further three holes in late November, ZX20046 and 48, and another seven drill holes, ZX20049 to 55 in early December.

With a quiver of solid results from Alaska already in the bag, and the company looking to repeat the success of previous campaigns in the region, the market pundits just need to hold their mettle a while longer while the lab gets back on track. Perhaps an early Christmas present from arctic climes is on the cards with tidings of wide intercepts of copper and gold from Zackly.

Is your ASX listed company doing something interesting? Contact: matt.birney@businessnews.com.au