- PolarX (PXX) says mineralisation has been seen in all holes drilled near the head of Star Canyon, within its Humboldt Range Project in Nevada, USA
- Reverse Circulation (RC) drilling started two weeks ago at the drill target, with 10 holes so far encountering variably altered and mineralised limestone
- The company warns the visual observations should not be considered a substitute for laboratory analysis, and that analysis is underway to determine if the mineralisation is of commercial significance
- Assay results are four to six weeks away
- PXX shares are trading up 10.5 per cent at 2.1 cents per share.
PolarX (PXX) said mineralisation has been seen in all holes drilled at its Star Canyon drill target within its Humboldt Range Project in Nevada, USA.
Reverse Circulation (RC) drilling began two weeks ago, with 10 holes drilled so far at depths of between 11 and 55 metres.
The company reported all 10 holes have early visual results which are consistent with altered and mineralised limestone to the end of the hole.
PolarX cautioned these early results are visual observations only and should not be considered a substitute for laboratory analysis.
Initial assay results are expected in four to six weeks which will determine if the mineralisation is of commercial significance.
PXX last traded up 10.5 per cent at 2.1 cents per share.