PolarX: A whole lot of copper and a hint of silver
PolarX Managing Director Jason Berton on 6PR Bulls N' Bears Report
Listen to ASX-listed PolarX Managing Director Jason Berton talk to Matt Birney on the Bulls N’ Bears Report about PolarX’s stellar copper resource upgrade.
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PolarX is exploring for copper and gold in Alaska and gold and silver at its Humboldt Range project in Nevada, USA that has been throwing up some crazy high-grade gold and silver indicators. In Alaska it's Stellar project already has a growing copper resource and the potential for a major porphyry copper-gold system however PolarX' Caribou Dome project also in Alaska has been grabbing the headlines lately with a serious copper resource upgrade.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by copper, gold and silver explorer PolarX.
Matt Birney - ASX code: PXX
Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of PolarX, Jason Berton.
Matt Birney - Hi Jason
Jason Berton - Hi Matt, how are you?
Matt Birney - I'm good. Okay so PolarX is exploring for copper and gold in Alaska and gold and silver at its Humboldt Range project in Nevada, USA that has been throwing up some crazy high-grade gold and silver indicators. In Alaska it's Stellar project already has a growing copper resource and the potential for a major porphyry copper-gold system, however PolarX' Caribou Dome project, also in Alaska, has been grabbing the headlines lately with a serious copper resource upgrade.
Matt Birney - Okay Jason let's talk Caribou Dome, what was the previous resource there and what is it now?
Jason Berton - So it was 2.8 million tonnes for an average grade of 3.1 per cent copper and the upgrade now is 7.2 million tonnes average copper grade stays the same at 3.1 per cent. We've just modeled silver for the first time and that's at 6.5 grams per tonne average.
Matt Birney - And what about contained metal? What was the contained copper metal? What is it now and how much contained silver have you got?
Jason Berton - Okay so contained copper was 86,000 tonnes and in the new resource it's jumped to 224,000 tonnes and we've got almost 1.5 million ounces of contained silver.
Matt Birney - How shallow is this thing?
Jason Berton - Starts at surface and it goes down to about 300 metres going depth.
Matt Birney - Any higher grade cores in there do you think?
Jason Berton - Oh definitely definitely. 2021 we had very high grade intercepts, 19 meters at seven per cent copper.
Matt Birney - How far below surface was that that?
Jason Berton - That system there starts at surface and it makes its way down and we've hit that about 100 meters beneath surface.
Matt Birney - Does the resource still have legs in it in your opinion and if so where do you expect to get more tonnes out of it?
Jason Berton - The previous resource was actually modelled down to 450 meters. We've cut that out because we weren't confident that we had enough information to project it that deep but we know the geology goes down another 150 meters below where we've cut the resource, so we're quite optimistic about drilling underneath it now to extend it.
Matt Birney - Okay so in terms of a potential mine plan, I think, you've modeled this project along with your nearby Zackly deposit. How far away is Zackly and what's the combined resource between the two?
Jason Berton - Zackly is about 35 kilometers away and when you look at the combined resources of about 11.2 million tonnes at the moment and you're looking at around 269,000 tonnes that contain copper in that, 213,000 ounces of gold and 3.1 million ounces of silver.
Matt Birney - I know you're about to update your old scoping study but curiously that old scoping study showed about 37 million a year in free cash. I'm sure that number will now change when you get to updating that scoping study.
Matt Birney - Jason Berton from PolarX
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice which you should of course seek independently
Matt Birney - I'm Matt Birney and this is Bulls N' Bears
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