Polarx Ltd to Launch Diamond Drilling for New Massive Copper Sulphide Targets at Caribou Dome

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Upcoming drilling is also designed to provide high grade copper in Caribou Dome massive sulphides for metallurgical studies to advance a scoping study.

() (FRA: PX0) is poised to launch a diamond drilling program on the Caribou Dome high-grade copper project in Alaska, targeting new priority targets for massive sulphide copper mineralization.

The company has retained a contractor for the 1,500-meter diamond drilling program, which is scheduled to begin in August.

This program is designed to achieve two goals: to test three newly developed exploration targets, each of which has the potential to host one or more massive sulphide lenses, and to provide high grade copper sulphide samples for metallurgical testing.

Ultimately, these samples will determine potential options for co-processing with copper mineralization from the neighboring high-grade Zackly Copper-Gold project 100% owned by PolarX.

Drilling and subsequent metallurgical testing will be part of PolarX’s 80% stake in the Caribou Dome project under revised conditions agreed to in 2020.

Objectives for the 2021 field season

Caribou Dome in the Alaska Range Project.

Copper mineralization at Caribou Dome occurs within nine known lenses of massive sulphide mineralization.

Previous exploration revealed that these lenses exhibit a strong copper anomaly in analyzes of surface soil samples and can also be widely mapped / predicted using induced polarization (PI) geophysical surveys, displaying levels of high chargeability.

PolarX has designated three new undrilled targets after an extensive review of soil geochemical sampling data and 3D imaging of IP data.

The three new targets are all located within 500 meters of known mineralization, and all exhibit a copper surface anomaly and coincident IP 3D chargeability peaks.

Each target therefore has a high potential to host one or more lenses of massive sulphide mineralization.

Four holes are also planned to intersect known high grade massive sulphide lenses at Caribou Dome to provide new samples to assess its potential combination with the high grade Zackly project from PolarX.

Several priority targets not drilled

Copper mineralization was discovered at the Caribou Dome project in 1963.

From 1963 to 1970, nine lenses of copper mineralization hosted in volcanic sediments were delineated approximately 700 meters in direction.

Ninety-five diamond core holes were drilled during this period, both above ground and underground.

Several high priority targets based on geochemical soil surface sampling and the IP survey have not yet been drilled.

With more than 18 kilometers of the stratigraphic horizon that harbors the mineralization evident in the Company’s project area, there is considerable potential to discover other high grade mineralization and continue to expand the project’s resource base.

PolarX intends to assess the economic viability of trucking the copper mineralization from Caribou Dome to potential processing plant sites in Zackly.

Humbolt range project

At the company’s Humbolt chain gold-silver project in Nevada, assays for the recently completed grid soil sampling and vein sampling are expected soon and will be used to delineate preliminary drill targets.


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