PolarX discovers additional copper potential in Alaska
Firmly focused on the United States, the company recently acquired the very promising Humboldt chain gold-silver project in the leading jurisdiction of Nevada, in order to supplement its copper resources of more than 6 million tonnes in its project. Alaska Range Lighthouse – where the company has just discovered a third type of copper mineralization.
“This is a really exciting development,” says Managing Director Dr Frazer Tabeart, who has just returned from a trip to the United States to oversee exploration for both projects.
Alaska Range includes the 100% owned Stellar project, which hosts the Zackly skarn deposit (3.4 Mt at 1.2% copper, 2 g / t gold and 14 g / t silver), and the high-grade Caribou Dome project, where PolarX can gain 80% and the namesake 2.8 Mt deposit contains 3.1% copper.
Stellar is also home to large-scale copper-gold porphyry potential, with the company in promising discussions with potential partners to push the “big story” forward.
Meanwhile, PolarX is advancing its established high-grade deposits and has begun a scoping study to transform the project into a world-class development through the combined development of Caribou Dome and Zackly.
The third style of mineralization on the Project is native copper, discovered in drilling this month, opening up new potential at Alaska Range.
The purpose of the recent drilling at Caribou Dome was twofold, to obtain samples for metallurgical test work and to test new exploration targets, where PolarX discovered native copper in holes that intersected old castings of wash.
“All four exploration holes drilled hit copper mineralization, but this is a very unusual style of copper because rather than copper sulfide, it is native copper,” Tabeart said. RESOURCES stocks.
The current target area is 1,100 m long by 300 m wide.
“We have to wait for the results of the analyzes, but we did not force it in any direction, and we know that these volcanic rocks are very extensive in the region, so they have just opened a whole new avenue of exploration,” he said. said Tabeart. noted.
“With this long-term copper theme in the background, we found a target that could cover several square kilometers.
“Knowing that this style of mineralization exists and that elsewhere in America there are significant high grade ore deposits of this nature, it gives us a whole new type of target to start exploring this property and will have a big impact.” on the future. work programs. “
Previous drilling at Caribou Dome was also successful, providing samples of “spectacular” appearance, the first three holes intersecting thick zones of massive copper sulphides.
“They are close to the 2015 and 2016 holes which yielded up to 51.1m at 5.3% copper,” Tabeart said.
“These new samples will be analyzed and used for metallurgical testing as part of our current scoping study on the Alaska Range project.”
A bigger picture
Executive Chairman Mark Bojanjac highlighted interest in PolarX’s porphyry potential, given the looming copper supply shortfall and growing demand that has seen the price of copper reach an all-time high above 10,000. US $ / t earlier this year.
PolarX discovered copper-gold porphyry mineralization on the Stellar property in its first drill hole on the Mars prospect in 2019, cutting 102 m at 0.22% copper and 0.1 g / t gold.
The company has now established two very large copper anomalies at Stellar, up to 11 km by 6 km.
The porphyry systems are home to the world’s largest copper-gold mines, but progress in discussions with potential partners has effectively been put on hold due to the 2020 global pandemic, Bojanjac said.
However, Tabeart is confident of moving forward as the United States opens up for business.
“There’s a good chance we’ll get a deal done in the next three or four months, so we’re ready for the next season on the pitch with major support for the big upside porphyry copper opportunities.” , did he declare.
PolarX has also used the pandemic downturn to its advantage, strengthening the company by adding the Nevada precious metals asset which extends its exploration season beyond the onset of winter in Alaska.
The Humboldt range adds shine
Rock chips from the underexplored Humboldt Range gold-silver project in Nevada have assayed up to 3,384 g / t gold.
PolarX sees the potential for bulk mining at Humboldt Range, given indications of halo mineralization around narrow veins that were mined in small stope until the 1920s.
The project sits between the operation of the multi-million ounce Florida Canyon gold mine and the Rochester silver and gold mine, which could accelerate PolarX’s path to rapid production.
Bojanjac said a bulk mining proposal was not necessarily ambitious given that is what the neighbors were doing.
“We’re not going to have to build a mine,” Tabeart said.
“There is obviously a business outcome that could work for all parties if we make a discovery.”
The Humboldt Range contains the Black Canyon gold-dominated and silver-dominated Fourth of July claim groups and PolarX reported large-scale precious metal anomalies in both groups during mid-year soil sampling. .
Having had boots on the ground, Tabeart is excited about the prospect of the flush quartz veins that have never been drilled, and the company is ready to do more sampling before Thanksgiving to prepare for an initial drilling program.
PolarX prides itself on the breadth of its cutting-edge portfolio, its focus on sought-after metals and the power held by its experienced team.
Bojanjac highlighted the expertise held by directors and PhD geologists Tabeart, who has a strong technical background in porphyry systems, and Executive Director, Dr Jason Berton, who has worked for majors like Barrick Gold and BHP.
“We know that good science in recognized geology leads to early discoveries and economic benefits,” said Bojanjac.
“If it doesn’t make economic sense, we don’t – it’s that simple.”
Bojanjac, a chartered accountant, has also led or is part of teams that have successfully discovered and created mines in Australia, Mongolia, China, Africa and New Guinea.
He thinks PolarX’s projects may well overtake any at scale.
Coming out of a year of transformation, the company now has an equally exciting time ahead as it moves the Alaska Range forward into development and proves its precious metal potential in Nevada.