PolarX Limited Announces Strong Sampling Results at Humboldt Range Project in Nevada, USA
break in slope and which measures 645m long x 500m wide at >50ppb Au, before being concealed under thin soils to the north and south. Field validation identified extensive outcropping ridges of intensely silicified and oxidised volcanic rocks hosting multiple quartz vein arrays and old gold-silver workings within this gold anomaly. · Follow-up channel sampling to collect 1.5m long samples has been completed in two groups of traverses, covering 275m across the alteration, perpendicular to strike. Assays results for the bulk of the first three channel samples have been received, covering
245m out of the 275m cumulative across-strike sampling length. All three channel samples returned highly anomalous gold and silver levels: Channel 1: 54m @ 0.22g/t Au and 17.3g/t Ag (peak values 2.23g/t Au, 398g/t Ag). Channel 2: 72m @ 0.21g/t Au and 11.7g/t Ag (peak values 2.05g/t Au,79.9g/t Ag). Channel 3: 138m @ 0.14g/t Au and 2.66g/t Ag (peak values 1.70g/t Au, 20.1g/t Ag). Assays for the westernmost section of Channel traverse 3 remain outstanding, as are results for Channel traverses 4 to 11 inclusive. The surface channel sampling results are consistently at or above the cut-off grades at these two large-scale mines, confirming their potential commercial significance prior to drilling. A program of RC drilling will commence next quarter along with drill testing of targets in the nearby Fourth of July claims. Assays are also expected shortly for the remainder of Channel traverse 3, and traverses 4 to 11 inclusive. Permitting for drilling is underway, with permits expected in a matter of weeks, and the Company
expects to finalise a drilling contract imminently.