Mining News: Wider copper-gold cut at Zackly

PolarX Ltd. Dec. 6 reported that assay results from two additional holes drilled at Zackly continue to confirm the historical copper-gold resource for the skarn deposit within the company’s Alaska Range project. Hole ZM-17010 cut two mineralized intercepts – 5.5 meters averaging 0.65 percent copper and 1.11 grams per metric ton gold from 155.9 meters; and 18.4 meters of 1.34 percent copper and 1.15 g/t gold from 169.5 meters. Hole ZM-17015 cut 5.9 meters averaging 1.23 percent copper and 2.2 g/t gold. PolarX said this year’s drilling often intersects significantly wider intercepts than the historical holes they twinned, predominantly due to better core recoveries in PolarX’s drilling. One such example is hole ZM-17002, which cut 33.4 meters averaging 1.16 percent copper and 1.27 g/t gold. This is substantially wider than the nearby historical hole Z-43, which cut 6.1 meters of copper-gold mineralization. Another example is ZM-17007, which cut 14.5 meters of 2.46 percent copper and 2.02 g/t gold. Nearby historical holes only cut about 1.5 meters of copper-gold mineralization.

The historical resource for Zackly was calculated at 1.54 million metric tons grading 4.5 g/t (218,944 ounces) gold and 2.9 percent (66.9 million pounds) copper. This year’s 13-hole drill program at Zackly included 11 holes designed to validate previous drill intersections and better define the deposit. These results will help underpin a revision of the historical copper and gold resource to Australian Joint Ore Reserves Committee (JORC) mineral reporting standards, which is similar to National Instrument 43-101 standards in Canada. Results from six holes are pending and the updated mineral resource for Zackly is slated for completion early in 2018. PolarX, which acquired Stellar earlier this year, has combined it with the neighboring Caribou Dome copper property and renamed the merged properties the Alaska Range project. Millrock Resources Inc., which owns a 10.74 percent interest in PolarX, executed the 2017 drill program at Zackly.

PolarX said there is evidence that a mineralized structural corridor that runs 6,000 meters west from Zackly to the Mars prospect may host several buried porphyry copper-gold deposits, including underneath Mars and Zackly. PolarX said this prospective corridor is a high priority exploration target within the Alaska Range Project.

–SHANE LASLEY

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