Polarx’s 3D Modelling Confirms Large Porphyry Target

March 25, 2019 02:21 PM AEDT | By Team Kalkine Media
 Polarx’s 3D Modelling Confirms Large Porphyry Target

Polarx Limited (ASX:PXX) operates as a mineral exploration and development company. The Company engages in the identification, acquisition, and development of mining projects which includes gold, silver, and copper mining properties. Polarx offers its services in Australia.

The company, today on 25 March 2019, has come out with an update which states that the 3D modelling has provided more firm evidence that the Saturn prospect at its Alaska Range Project is a large, compelling copper?gold porphyry target. The results of the modelling, combined with the other critical geological features established in earlier exploration, are entirely consistent with the presence of a porphyry system.

PolarX Managing Director Frazer Tabeart said that an induced polarisation survey would now be conducted to locate the presence of disseminated sulphides associated with the intrusive core and in the surrounding alteration halo. This would pave the way for drilling to start in the September quarter of this year. He further added that every piece of exploration work, the company does provide more evidence that Saturn is a compelling copper?gold porphyry target. The combination of the modelling results, the magnetic responses from the surrounding zone and the proximity to the high?grade Zackly Skarn copper?gold deposit means that Saturn is shaping up as a phenomenal example of a porphyry prospect.

As per the inversion modelling results, the Saturn porphyry Copper?Gold target was delineated in high?resolution aeromagnetic data collected in September 2018, comprising a cluster of magnetic anomalies surrounded by a zone of magnetite destruction.

Three?dimensional inversion modelling of the magnetic data has highlighted that the anomaly at Saturn represents a steeply south plunging, upward flaring cylinder. The magnetic body is approximately 2km x 1km in areal extent and extends to depths more than 3km which is the lower extent of the inversion model. It is covered by 10?15m of glacial till and is blind to surface geochemistry. The geometry of the Saturn magnetic body, its geological setting and the halo of magnetite destruction surrounding the body all support the presence of an oxidised (i.e. magnetite bearing) intrusive cluster surrounded by a zone of propylitic alteration. These factors plus the proximity of high? grade Copper?Gold mineralisation at the Zackly Skarn deposit provides substantial evidence that Saturn may be a large?scale porphyry Copper?Gold system.

An induced polarisation survey will be undertaken over the Saturn target next quarter, covering approximately 20 line?km of surveying. This survey is designed to locate the presence of disseminated sulphides associated with the intrusive core and in the surrounding alteration halo and will be used in conjunction with the magnetic data to plan a drilling program for execution in Q3 2019. The IP contract has been signed, and the IP contractor and supporting logistics team will commence the survey once the seasonal snows have melted.

On the price-performance front, the stock has posted the YTD return of 9.09%. The company also has posted returns of -25.93% over the past six months. At the time of writing (25 March 2019 AEST 02:04 PM), the stock of the company is trading at a price of A$ 0.082, up by 36.667% during the day’s trade with a market capitalisation of ~A$ 19.16 Mn. The stock opened the day at A$ 0.065 reached the intraday high of $ 0.082 and touched an intraday low of $ 0.065, with an average daily volume of more than 1,162,988. It had a 52-week high price of $ 0.155 and a 52 weeks low price of $ 0.052, with an average volume of, 138,832 approximately.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.