PolarX hits bonanza-grade silver with gold credits in first sample assays from Fourth of July at Humboldt Range

PolarX Ltd (ASX:PXX) (FRA:PX0) has received very high-grade silver assays accompanied by gold grades which verify and extend high-grade historical rock chip samples from the southern-most veins at Fourth of July in the Humboldt Range Project, Nevada, USA.

More than 50 assays have been received from rock-chip samples collected by the company at the Jackson, Cottonwood, Black Warrior and Lucky Dog veins.

All veins returned very high silver grades, several with bonanza grades well above 1,000 g/t, including 1,360.5 g/t, 1,110.9 g/t, >1,500 g/t, 1,374.4 g/t, 1,693.7 g/t, 1,099.2 g/t, 2,083.3 g/t, 1,070 g/t and 1,880 g/t.

These results complement and extend historical sampling which showed similar silver results and gold grades up to 17.3 g/t.

Fourth of July sampling ongoing

Fourth of July is at the southern end of PolarX’s Humboldt Range Project and is less than 15 kilometres from the Rochester Mine, which hosts 400 million ounces of silver and 3 million ounces of gold.

In addition to rock chip sampling of known veins, systematic soil sampling on a notional 200 x 50-metre grid has been completed over all the Fourth of July claims, with assays expected in 2-3 weeks.

Systematic soil sampling, vein sampling and geological mapping of the more gold-dominant Black Canyon claims to the north is underway, where previous sampling returned peak vein samples of up to 3,384 g/t gold, 2,837 g/t silver, 22.9% lead and 3.1% zinc.

The company expects to receive assays in June/July and to integrate all the exploration data to define preliminary drill targets in July-August, allowing drill permitting to commence in August for a potential fourth-quarter drilling campaign.

Select historical and current PolarX rock chip gold and silver assays throughout the Fourth of July project.

2021 Alaskan drilling program

On completion of field programs in Nevada, the company’s technical staff will relocate to Alaska to prepare for a core drilling program at the high-grade Caribou Dome copper project (2.8 million tonnes at 3.1% copper), which is expected to begin in August.

Caribou Dome has heightened significance to PolarX’s Alaskan Range Project with copper prices now at or close to historical highs.

The drilling program is being planned for three purposes:

• To collect more copper-bearing massive sulphides for additional metallurgical test-work;
• Testing additional new geochemical/geophysical targets which were not followed up in previous drilling campaigns in 2015 and 2016; and
• Targeting extensions of high-grade known sulphide lenses.

Story by ProactiveInvestors