- PolarX (PXX) has started drilling at the Zackly East Skarn which is part of the Alaska Range Project in Alaska
- The 3000-metre drilling program will follow up on thick, high-grade gold and copper mineralisation identified in 2018
- Zackly East hosts a potential 600 metres of strike and is located near the Zackly Main Skarn deposit
- To support this drilling program, PolarX recently raised over $4.7 million through a placement and share purchase plan
- Company shares closed a slight 2.33 per cent to trade for 4.2 cents
PolarX (PXX) has begun a 3000-metre drilling program at the Zackly East Skarn to follow up on thick, high-grade gold and copper mineralisation.
The mineralisation was identified during an exploration program conducted in 2018. Two drill holes returned intersections of 55 metres at 2.8g/t gold and 0.6 per cent copper, and 47 metres at 3.1g/t gold and 0.6 per cent copper.
Drilling is initially focused on the section containing the holes that previously yielded these results.
The Zackly East Skarn has a potential strike length of 600 metres. It occurs 800 metres from the Zackly Main Skarn deposit where PolarX outlined an Inferred Resource of 41,000 tonnes of copper, 213,000 ounces of gold and 1.5 million ounces of silver from surface. This resource occurs over a strike length of 1050 metres.
The Zackly East and Zackly Main deposits lie within the Alaska Range Project in Alaska.
PolarX had already received firm commitments for the $3.76 million placement whereas the remaining $1 million would come from a share purchase plan that was completed earlier this month.
Company shares closed a slight 2.33 per cent to trade for 4.2 cents each.