Polar X is an advanced ASX-listed mineral explorer and developer (ASX: PXX). PolarX brings together exciting Cu and Cu-Au assets at the “Alaska Range Project”, covering 241km2 of State Mining Claims. High-Grade existing resources and numerous large unexplored advanced targets are within this impressive 35km long mineralised belt, which is a mere 6-hour drive from Anchorage.
One of the Company’s greatest advantages is the high-grade nature of its deposits. The JORC resource grade at Caribou Dome is 3.1% Cu (2.8Mt) and the JORC resource grade at Zackly is 1.2% Cu and 2.0 g/t Au (3.4Mt). Both the Zackly and Caribou-Dome deposits remain open in all directions. Of particular note are recent drill intersections at Zackly, where 55m @ 2.8g/t Au, 0.6% Cu and 47m @ 3.1g/t Au and 0.6% Cu occur in sub-horizontal, shallow skarn mineralisation. Rapid resource expansion from shallow drilling around these intersections is a priority for 2019.
Current Copper and Copper equivalent grades of 4% and 5.5% respectively compare favourably with some of the world’s highest grade operating mines. This allows an initially small-scale highly profitable development.
No targets outside the existing resources have ever been drill-tested to date.
Exploration and development programs are designed to initially bring the 100% owned Zackly Deposit and 80% controlled Caribou-Dome Deposit into early production whilst much larger new targets for porphyry Cu-Au mineralisation such as Zackly SE (100%), Mars (100%) and Senator (90%) are tested and if successful, advanced to resource/reserve status.
Both existing deposits are expected to progress to feasibility assessment in the near future whilst they continue to rapidly expand. Early environmental baseline surveys are underway and specialists have been engaged to assist in the future mine permitting process.
Plans & Developments:
Upcoming exploration programs are designed to achieve the following:
1. Resource extensional drilling at the Zackly skarn where recent intersection of 55m @ 2.8g/t Au and 0.6% Cu at surface provides confidence of rapid resource expansion potential
2. An Induced polarisation survey at the exciting Zackly SE porphyry Cu-Au target to assist with drill hole planning
3. Drilling of the Mars and Zackly SE porphyry Cu-Au targets
What is your primary business activity?
Mining – Exploration / Development / Production
Why should investors invest in you?
PolarX provides one of the few opportunities to invest in a high-grade Cu-Au play in a Tier 1 jurisdiction. Existing JORC resources demonstrate that high-grade mineralisation is present at surface with considerable near-term upside. Rapid expansion of the existing resources is likely in 2019.
The geological nature of these deposits, plus multiple layers of exploration data confirm the presence of much large porphyry Cu-Au targets which will be drill tested in 2019.
Stock Exchange Listing:
Copper | Gold
Countries of Operation:
Board of Directors:
- Mr. Mark Bojanjac – Executive Chairman
- Dr. Frazer Tabeart – Managing Director
- Dr. Jason Berton – Executive Director
- Mr. Robert Boaz – Non-Executive Director
- Mr. Ian Cunningham – CFO/Company Secretary
- Management/Directors/MRG Team 13.0%
- JP Morgan (UK) 9.7%
- Ruffer Gold Fund (UK) 8.6%
- U.S. Global 8.3%
- Lowell Resources Fund (Aus) 2.2 %