- Sampling at PolarX’s (PXX) Black Canyon area has identified three large, high-grade anomalies with values of up to 793 parts per billion (ppb) gold
- Black Canyon lies within the northern portion of the company’s Humboldt Range Project in Nevada
- The three anomalies have been discovered to the east, west and south, and measure from 1300 by 300 metres to 2300 metres by 800 metres
- Next month PolarX will conduct field evaluations to gain a better understanding of their geology and define future drilling targets
- Company shares are up 3.13 per cent to trade at 3.3 cents at 3:52 pm AEST
PolarX (PXX) has received soil sampling results which have showcased large, high-grade gold anomalies at Black Canyon.
The Black Canyon claims are to the north of the Humboldt Range Project in Nevada and are less than three kilometres from the Florida Canyon Mine, which hosts five million ounces of gold.
PolarX conducted soil sampling, rock chip sampling and geological mapping over the Black Canyon area.
Positively for the company, soil sampling results showed values of up to 793 parts per billion (ppb) gold and rock chip assays of up to 512.7 grams of gold per tonne (g/t) in quartz veins from old mine workings.
The results also uncovered three prominent gold anomalies where gold values exceeded 50ppb in thin residual soils.
The eastern anomaly is the largest of the newly discovered anomalies, measuring 2300 metres by 800 metres. This anomaly is associated with outcropping mineralised quartz veins on a steep east-facing slope which has never been sampled. It also returned values of up to 793.1ppb and 782.1ppb gold.
The western anomaly spans 1300 metres by 300 metres, and returned a peak value of 245.9ppb gold with narrow quartz veins assaying up to 335.03g/t and 512.73g/t gold.
Lastly, the southern anomaly measures 1400 metres in length and 500 metres in width, and contains gold values of up to 697.9ppb with gold-bearing veins on the southwest edge of the anomaly assaying up to 4.49g/t gold.
PolarX plans to evaluate these anomalies next month so it can better understand the geology associated with each soil anomaly and generate future drilling targets.
Company shares were up up 3.13 per cent to trade at 3.3 cents at 3:52 pm AEST.