THE DRILL SERGEANT: PolarX Limited (ASX: PXX) has completed a single diamond drill hole into the Mars porphyry target within the company’s Alaska Range project in Alaska.
PolarX said the Mars porphyry target is in the Stellar project, an area that is subject to a strategic partnership the company struck with Lundin Mining Corporation and announced in June 2019.
The company explained that Mars occurs at the western end of a 12-kilometres‐long mineralised corridor, which also hosts the high‐grade Zackly copper-gold skarn and the Saturn porphyry target.
A preliminary program of core drilling to evaluate Saturn and Mars was undertaken in August and September and reported in October 2019.
The first diamond drill hole at the Mars prospect in the Alaska Range project ended in mineralisation at 417 metres down‐hole depth, intersecting multiple stages of porphyry‐style veins containing visible iron, copper and molybdenum sulphides from near surface to the end of the hole.
PolarX reported there to be a broad zonation with increasing vein intensity and increasing abundance of copper and molybdenum sulphides as the hole deepens with a notable increase in visible copper and molybdenum sulphide abundance at 321m deep, continuing to the end of the hole at 417m with visual estimates of 0.5 per cent to 2 per cent chalcopyrite.
“Visual confirmation of even more intense porphyry‐style veining containing chalcopyrite and molybdenite from 321 metres to the end of the first hole at 417 metres depth at Mars is extremely promising,” PolarX managing director Dr. Frazer Tabeart said in the company’s announcement to the Australian Securities Exchange.
“The 400 metres-plus down‐hole thickness of mineralisation, the large size of the copper‐gold‐molybdenum surface geochemical and geophysical anomalies at Mars, support our view that a very large mineralised system may be present.”