PolarX drills high quality Alaskan copper

Including 19.9 m of 7% copper at the Caribou Dome deposit north of 60 Mining News – February 25, 2022

On February 23, PolarX Ltd. announced that its 2021 drill program at Caribou Dome has mined thick, high-grade copper lenses that demonstrate the exceptional quality of mineral resources and mine development potential at this deposit on the Chain property. of Alaska from the Australian company. .

As its name suggests, this property covers a 35-kilometer-long stretch of the majestic, mineral-rich Alaskan mountain range that runs through the center of the Far North state.

PolarX’s 2021 program focused on two previously identified high-grade copper deposits in the Alaska Range.

This included eight holes drilled at Caribou Dome, which contains 2.8 million metric tonnes of combined measured, indicated and inferred resources averaging 3.1% (189.6 million pounds) copper in nine lenses of mineralization. hosted in volcanic sediments.

Four of the holes drilled last year filled known high-grade massive sulphide lenses to provide new samples for metallurgical testing to support a scoping study to assess the ore processing potential of Caribou Dome in combination with ore mined from Zackly, a high-grade gold mine. – copper-silver skarn deposit about 15 miles (nine miles) northeast.

Highlights from these first four holes include:

9.77 meters (6.45 meters estimated true thickness) grading an average of 6.8% copper and 7.8 grams per metric ton silver from a depth of 25.28 meters in hole CD21 -001.

19.09 meters (12.6 meters true width) grading an average of 7% copper and 11.2 g/t silver at a depth of 45.16 meters in hole CD21-001.

5.85 meters (3.86 meters true width) grading an average of 6.8% copper and 10.9 g/t silver at a depth of 58.4 meters in hole CD21-001.

10.71 meters (7.5 meters true width) grading an average of 7.4% copper and 15.4 g/t silver at a depth of 26 meters in hole CD21-003.

“These are exceptional near-surface copper grades over substantial widths,” said PolarX Executive Chairman Mark Bojanjac. “Intercepts like 19 (meters) at 7% copper and 11 g/t silver are impressive by any measure. They help underpin the development potential of the project, which also has immense scope for expansion both laterally and in depth.

In addition to this infill drilling, PolarX drilled four holes to test the potential expansion of the high-grade copper resource at Caribou Dome.

In October, the company reported that this drilling had encountered native copper disseminated and hosted in veins in volcanic rocks in three of these holes drilled approximately 1,150 meters apart. These holes lie within a larger 1,500 meter by 300 meter induced polarization geophysical anomaly.

“This discovery is a potential game-changer for PolarX as the same volcanic host rocks, as well as multiple IP (geophysical) and geochemical targets, are prevalent at Caribou Dome, meaning the upside exploration here is immense,” said PolarX chief executive Frazer Tabeart. at the time. “As copper is such an important metal for the green energy transition, we are increasingly well positioned to play a role in this market.”

Assays are underway for the Caribou Dome resource expansion holes.

Assay and metallurgical results from the 2021 program will provide data for a scoping study that examines the potential to process Caribou Dome and Zackly ore at a central processing facility on the Alaska Range property.

Based on drilling by PolarX and previous explorers, Zackly Main contains 3.4 million metric tons of inferred resources averaging 1.2% (90.4 million pounds) copper, 2 grams per metric ton ( 213,000 oz) gold and 14 g/t (1.5 million oz) silver.

PolarX Ltd.

Coarse-grained native copper encountered in hole CD21-006 drilled at Caribou Dome. Analyzes are pending.

Drilling by PolarX in 2018 and 2020 uncovered and extended Zackly East, a particularly robust skarn discovery made by the company in 2018 approximately 650 meters east of the resource.

Drilling highlights at Zackly East include 54.6 meters grading an average of 2.8 g/t gold and 0.6% copper in hole ZX‐18020; 46.7 meters grading an average of 3.1 g/t gold and 0.6% copper in ZX‐18024; and 68.6 meters grading an average of 0.6 g/t gold and 0.3% copper in ZX20040.

The company indicates that metallurgical work is currently underway on the Zackly mineralization.

PolarX said the drilling, subsequent metallurgical work and upcoming scoping study are part of its well-advanced option to acquire an 80% joint venture interest in the Caribou Dome project.

Authors biography

Shane Lasley, editor

In his more than 14 years of mining and mineral exploration coverage, Shane has become renowned for his ability to report on the sector in a manner technically sound enough to inform industry insiders while being easily understood by a wider audience.

E-mail: [email protected]
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