PolarX kicks off drilling program at Nevada gold-silver target

PolarX ASX PXX drilling program Nevada gold silver target Star Canyon
PolarX says strong sample results highlight the potential for bulk-tonnage gold-silver mineralisation at Humboldt Range project.

Perth-based PolarX (ASX: PXX) is following up more strong sampling results at Star Canyon in Nevada as a 3,000m reverse circulation drill program gets underway.

The company is focusing on a gold-silver drill target near the head of Star Canyon in the Black Canyon claims within its Humboldt Range project in Nevada.

A minimum program of 10 holes for 1,500m is planned at Star Canyon, followed by a similar program at the nearby Fourth of July claims.

Black Canyon is at the northern end of Humboldt Range and is less than 3km from the currently operating Florida Canyon mine, which ground hosts 5 million ounces of gold gold.

Best-known target for large tonnage mining

PolarX says infill soil sampling results and final channel sample assays have further validated the choice of drilling Star Canyon for a bulk tonnage gold-silver mineralised deposit.

Samples have produced assays including 54m at 17.3 grams per tonne silver and 0.22g/t gold, 72m at 11.7g/t silver and 0.21g/t gold, along with 175m at 2.2g/t silver and 0.13g/t gold.

“This area is now Black Canyon’s best-known target for large tonnage, lower to moderate gold-silver mineralisation,” the company states.

RC percussion drilling has begun at Star Canyon with 10 holes to an average depth of 150m scheduled for drilling over a two-week period.

Will also test multiple targets at Fourth of July

The rig will then move south the Fourth of July claims where it will drill a further 10 holes, testing multiple targets.

The Humboldt Range project comprises 333 lode mining claims in two claim groups — Black Canyon and Fourth of July.

The project area is situated between two large-scale mines currently in operation, the Florida Canyon gold mine operated by Toronto-listed Argonaut Gold and the Rochester silver-gold mine owned by NYSE-listed major Coeur Mining.

PolarX says the Humboldt Range project contains geology consistent with “bonanza-style” epithermal gold-silver mineralisation as well as bulk mineable epithermal gold-silver mineralisation.

The company’s ground was mined between 1865 and 1927 using adits and underground workings.

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.