- PNX Metals (PNX) sees its near-surface gold zones extend to over 1.4 kilometres at the Glencoe gold deposit in the Northern Territory
- The program is said to confirm and enhance historical drill results, identifying along-strike gold lode extensions that remain open
- The near-surface, high-grade gold mineralisation intersected at Glencoe now exceeds 1.4 kilometres of strike and remains open in all directions.
- PNX Metals shares were unchanged at 0.7 cents
PNX Metals (PNX) has seen its near-surface gold zones extend to over 1.4 kilometres at the Glencoe gold deposit.
Glencoe is located 170 kilometres south of Darwin in the Pine Creek region of the Northern Territory.
The company’s 2021 reverse circulation drilling program comprised 54 drill holes for a total of 4,470 metres. The program was said to confirm and enhance historical drill results, identifying along-strike gold lode extensions that remain open.
The latest batch of results are from the final thirteen reverse circulation holes, with results including 2 metres at 8.58 grams per tonne (g/t) gold from 10 metres and 6 metres at 3.84 g/t gold from 36 metres.
The near-surface, high-grade gold mineralisation intersected at Glencoe now exceeds 1.4 kilometres of strike and remains open in all directions.
“Glencoe continues to strengthen with infill and extensional drilling complementing our previous results and supporting the increased scale potential of the deposit,” Managing Director James Fox said.
“We look forward to our 2022 exploration campaign with diamond drilling due to commence in late January, whereby we aim to add further value at Glencoe and across our entire Pine Creek exploration package.”
PNX Metals shares were unchanged at 0.7 cents at midday AEDT.