PolarX expands footprint in Alaskan copper and gold
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Junior explorer PolarX has picked up more copper-gold prospective ground in Alaska.
The company (ASX:PXX) has staked 34 new claims, boosting its landholding in the region to 242.65 sq km.
The 32 claims that expand the Alaska Range project cover potential extensions to the copper-in-soil at the Senator prospect and extend both ends of the Mars‐Zackly copper and gold porphyry corridor.
Porphyry is a crystal-like orebody formed from molten rock over millions of years — it is the world’s main source of copper.
Up to 7.4 per cent copper and 1.8 grams per tonne of gold have been found in rock chip samples at the Mars prospect, while recent drilling at the Zackly prospect has intersected thick zones of mineralisation from surface.
The two remaining claims were staked around 50km east of the Alaska Range project to cover a vegetation anomaly believed to be prospective for copper sulphide mineralisation.
Alaska is considered among the top two regions of the world for mineral potential, according to the Alaskan Department of Natural Resources. The total reported value of Alaska’s mineral industry in 2015 was $3.13 billion.
The region has become a hot spot for Aussie juniors like PolarX that are picking up prime exploration ground without much competition from their Canadian peers.
The region is home to several world-class gold and base metal operations. Kinross produces 400,000oz of gold at its low-grade Fort Knox operation while Sumitomo produces 270,00oz annually from its high-grade Pogo gold mine.
Exploration undertaken by PolarX at the Alaska Range project has so far identified an almost continuous zone of copper anomalism extending for around 35km.
Stockhead is seeking comment from PolarX.