PolarX (ASX:PXX) finds high-grade copper at Caribou Dome project

• PolarX (PXX) gets high-grade copper results from infill drilling at the Caribou Dome project in Alaska
• Results returned high grades of copper, including 10 and 15 per cent in multiple thick zones of massive sulphides
• The company says the results are “impressive” as they support the strength of the resource and underpin the development potential of the project
• Results will be used for metallurgical testwork to support a scoping study for mining and processing options
• PXX shares are up 5.71 per cent to trade at 3.7 cents

PolarX (PXX) has announced high-grade copper results from infill drilling at the Caribou Dome project in Alaska.

The company completed four drill holes at the project last year to provide samples of copper mineralisation for metallurgical testwork.

The holes were drilled into interpreted zones of copper mineralisation hosted in massive to semi-massive sulphides as predicted by a resource block model.

Results from hole CD21-001 include 19 metres at seven per cent copper and 11.2 parts per million (ppm) silver from 45.16 metres including 8.94 metres at 10 per cent copper and 16 ppm silver and 3.98 metres at 14.8 per cent copper and 24 ppm silver.

Drill hole CD21-003 also returned pleasing results of 10.71 metres at 7.4 per cent copper and 15.4 ppm silver from 26 metres.

The company said the results were important because they underpin the strength of the resource and validate the potential to develop Caribou Dam in conjunction with its nearby Zackly deposits.

“These are exceptional near-surface copper grades over substantial widths. Intercepts like 19 metres at seven per cent copper and 11g/t silver are impressive by any measure. They help underpin the development potential for the project, which also has immense scope for expansion both along strike and at depth,” Executive Chair Mark Bojanjac said.

Assays are pending for four additional exploration holes which were drilled at Caribou Dome in September 2021 which intersected finely disseminated and vein hosted native copper over 1.1 kilometres.

The infill drilling samples will be used for metallurgical testwork to support a scoping study on mining and processing options for the Caribou Dome project and Zackly deposits.

PXX shares were up 5.71 per cent to trade at 3.7 cents at 11:45 am AEDT.