PXX 8.33% 1.3¢ polarx limited

Ann: Drilling to resume in four weeks at Zackly East, page-5

  1. 1,890 Posts.
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    It's almost a case of damned if you do damned if you dont with the Mars target.
    600k for one hole is very very expensive though, so they must have a lot of confidence that their geological interpretation and modelling is spot on.

    You can look at this two ways, one, they are showing total confidence and getting on the front foot, of potentially hitting the core of a porphyry system in which they would be sitting on 100% of.
    Or, the JV discussions so far are not going well and its backing PXX into a corner to spend the 600k to show the world its worthy of a majors investment. It will be a make it or break it scenario for the entire porphyry system on the Stellar Project.

    The part I like is, there is a potential offset to a possible bad Mars drill hole, with some fantastic Zackly drill results, so it could cushion any blow from the Porhyry drilling.

    Bottom line, this is a good result for PXX, good money coming in, getting out to the field to drill in a few weeks, the light could be shining bright on PXX in no time if they can have a bit of exploration luck go their way,
 
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