04 May PolarX reports solid early drill results from Nevada gold-silver target
ASX-listed precious and base metals explorer PolarX has this week reported positive initial RC drill results from a campaign at its Humboldt Range Project in the US state of Nevada.
PolarX, which also has exploration properties in Alaska, has received mineralisation traces in all 10 holes drilled so far at the Star Canyon target, which sits within the Black Canyon of Nevada.
The RC campaign at Star Canyon kicked off two weeks ago, with results so far indicating styles of alteration and mineralisation commonly associated with the Tier 1 Carlin-type deposits in Nevada.
Black Canyon is at the Northern end of Humboldt Range less than 3 km from Argonaut Gold’s operating Florida Canyon Mine, which hosts 5 million ounces of gold.
Previously conducted soil sampling has highlighted a large cohesive gold anomaly in the Eastern part of the Black Canyon claims. The area is Humboldt Range’s best known target for large tonnage, low to moderate grade gold-silver mineralisation.
PolarX will now send the initial drill results for assay to determine if the mineralisation reported from preliminary geological logging has commercial significance. Initial assay results are expected in four to six weeks.
The company has moved the drill rig to the Fourth of July claim block to start a 10-hole programme testing multiple targets for gold-silver mineralisation.