A nice little article for those that are interested.PXX - PolarX Limited today closed up 14% to finish at 1.6c on $90k stock traded. There was no news out today but a fortnight ago they announced induced polarisation (IP) surveys had commenced at its Humboldt Range project located in Nevada.
So news from that can't be too far away for the boss who we will call Dermott Brereton to keep him anonymous, overdue a NST chat soon big fella (if you read this tonight).
Soil geochemistry programs completed back in February identified substantial gold and silver anomalies at Black Canyon and the Fourth of July claims located within Humboldt Range.
The IP survey is expected to take 4 weeks to complete at Fourth of July & 6 weeks for Black Canyon, so not too far away now as stated above wheelbarrow.
That's not his fault just testing to see if he reads it - LOL ($50 if you get this son).
The Black Canyon claims at the northern end of Humboldt Range are less than 3km from the currently operating Florida Canyon Mine, which hosts 5Moz gold.
Some details on last month's news are listed below:
Humboldt Range Gold-Silver Project, Nevada
IP surveys commenced for large-scale targets at Humboldt Range
Highlights:
- Induced Polarisation (IP) surveys have now commenced over PolarX’s Humboldt Range Project in Nevada, USA.
- Their focus is on identifying large-scale disseminated sulphide mineral concentrations in the Rochester Rhyolite Formation which hosts multi-million-ounce gold/silver deposits nearby.
- Recent drilling by PolarX revealed a close relationship between disseminated sulphides and gold/silver mineralisation.
- Coincident high chargeability and strong resistivity anomalies identified in the IP surveys will be prioritised as large-scale drilling targets.
PolarX Limited is pleased to announce that Induced Polarisation (IP) surveys have now commenced at the Fourth of July project in the Humboldt Range.
The survey is expected to take 4 weeks to complete 13.6-line kilometres.
IP survey work will also commence at Black Canyon on a 21-line kilometre program in early June and will take approximately 6 weeks to complete.
PolarX’s recent drilling at Star Canyon confirmed a close relationship between disseminated sulphide presence and gold and silver mineralisation.
The regionally low-grade gold mineralisation encountered to date by PolarX is hosted in similar geology to the nearby Rochester Mine (400Moz Ag, 3Moz Au) and neighbouring Spring Valley project (4.1Moz Au).
The Spring Valley project has the potential for large-scale bulk tonnage mining.
It is expected that high-grade veins may also exist within these large-scale targets at Black Canyon and Fourth of July as demonstrated by previous drilling by PolarX and grab samples from historical artisanal workings at both projects.
