PolarX lays claim to 36 new gold-silver targets in Nevada and gears up for drilling

• PXX has staked 36 new claims at Black Canyon, within Nevada’s Humboldt Range
• New ground covers southern extension of Ridgeline gold-silver prospect
• Drilling to begin on October 20, testing IP chargeability anomaly

Special Report: PolarX has extended its access to the Ridgeline gold-silver trend by a further 1.75 kilometres, fully encompassing the southern extension of the 3.6-kilometre anomaly with 36 new claims staked.

The company is preparing to drill an initial 2000 metres with a reverse circulation (RC) rig on the new ground beginning from October 20.

It will be the first drilling to test the Ridgeline prospect’s induced polarisation chargeability anomaly since PolarX (ASX:PXX) identified the target zone with a combination of geophysical data and surface soil sampling.

The Ridgeline prospect, stretching over a 3.6km by 1.3km area, is too large to be fully investigated by this initial round of drilling.

PolarX intends to return early next calendar year to follow up on initial results, focusing on the road-accessible southern portion of the anomaly.

The company is using a combination of surface quartz vein outcrops, rock chip sampling and soil geochemical data alongside geophysical chargeability and resistivity intensity to target its drill collars.

Prolific gold district

PolarX’s Humboldt Range project is a combination of two project areas over 369 mining claims, split between the Black Canyon and Fourth of July project tenures.

Both projects sit between several large-scale active mines – the Florida Canyon mine, Spring Valley mine and Rochester mine – within a fertile gold region known for both bonanza-style epithermal gold-silver mineralisation and bulk mineable epithermal gold-silver mineralisation.

PolarX is hoping to repeat the success of its neighbours, which are large-tonnage, modest-grade, bulk-scale open-pit mines that use cost-effective heap-leach processing.

Both the Spring Valley and Rochester mine sit within the Rochester Rhyolite formation, the same host-rock formation as PolarX’s Black Canyon and the Fourth of July projects.

This article was developed in collaboration with PolarX, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.