While the Humbodlt range project has some exciting potential attached for Gold/Silver I still think Caribou and Copper is whore it's at for PXX. Copper mining companies are going crazy the world over- I am glad a part of the rights issue will be used towards more drilling. A lot more upside!
As summarized on Proactive;
Proceeds of the placement will also be directed towards resource extension drilling at the Alaska Range Project's high-grade Caribou Dome copper deposit in Alaska, to advance historical drilling that included recent high-grade intersections of:19.1 metres at 7.0% copper; and 10.7 metres at 7.4% copper.The planned exploration program will consist of additional core drilling at the Caribou Dome deposit aimed at extending mineralisation along strike and down-dip from these high-grade intersections.Metallurgical test-work will also be conducted to evaluate processing options for the Zackly gold-copper-silver mineralisation and the potential for co-processing with Caribou Dome copper mineralisation.The company also anticipates completing a scoping study to evaluate combined mining and processing of Caribou Dome and Zackly mineralisation in the second quarter of the year. This will help determine minimum resource size required for a viable project.
PXX Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
