PolarX Limited (ASX: PXX) has announced that it has intercepted 8-11m thick zones of copper-bearing massive sulphides from the first three holes of a drilling program at the Caribou Dome Copper Project in Alaska.
The 1,500m program is set to test a further three high-priority targets, identified from geophysics and soil sampling, with drilling already commenced.
Core samples from the program will be used for metallurgical test work which will form part of a scoping study for Caribou Dome along with the nearby Zackly deposits.
“These samples look spectacular. They are close to holes from 2015 and 2016 which yielded up to 51.1m at 5.3% copper”
Drilling to earn-in at Caribou Dome
The current drilling program, along with metallurgical test work and delivery of a scoping study form part of an earn-in program which will see PolarX earn 80% of the Caribou Dome project.
The company reports that it has drilled four holes during August 2021, targeting massive to semi-massive sulphides outlined from a 2017 resource block model.
Core samples are in the process of being cut and sent for assay analysis, with historical drilling providing evidence that the holes may contain ‘significant’ copper grades.
Drilling has already commenced at three new high-priority targets, with each displaying copper anomalies from surface soil samples and 3D-IP survey, similar to characteristics from the existing mineral resource.
Unmined potential in Alaska
The 116km² Caribou Dome Project is situated 250km northeast of Anchorage, Alaska, directly adjacent to the company’s Stellar Project.
The project encompasses 216 contiguous state mining claims, and includes an unmined JORC-2012 mineral resource of 2.8Mt @ 3.1% Cu, plus 3.4Mt @ 1.2% Cu and 2 g/t Au at the nearby Zackly deposits.
View looking towards the mineralised zone at Caribou Dome field camp visible in the foregroundCaribou Dome is well served by transport infrastructure, with the Denali Highway passing within 20km of the project, and purpose-built roads providing direct access.
PolarX reports that metal and concentrate produced at the project could be transported over distance via the Anchorage-Fairbanks railway, which is located 100km west of the project, to a number of ports including Anchorage, Seward, and Port Mackenzie.
Management comments
PolarX Managing Director Dr Frazer Tabeart said: “These samples look spectacular. They are close to holes from 2015 and 2016 which yielded up to 51.1m at 5.3% copper. These new samples will be assayed and used for metallurgical test work as part of our current scoping study on the Alaska Range Project. We’ve now moved onto the three exciting new exploration targets, with the first drill hole already underway.”
Images: PolarX Limited
