PolarX onto impressive gold-in-soil anomalies

ASX-listed PolarX has detected three large, high-grade, gold-in-soil anomalies at its Black Canyon claims within its Humboldt Range Project in Nevada, USA. The company has turned up some promising soil samples assaying up to a serious 793 parts per billion gold, rock-chip samples going an impressive 43.8 g/t gold and an 86.1 g/t silver.

Soil sampling on an east-west 200m x 50m grid was recently completed by PolarX covering all the Black Canyon claims at the Humboldt Range Project. Geological mapping and rock-chip sampling of quartz veins was also undertaken, complementing previous sampling of this nature.

Three significant gold anomalies were identified with greater than 50 parts per billion gold in soils measuring over 1.3km long.

The largest, eastern anomaly measures 2.3km by 0.8km and contains up to 793 parts per billion gold in the soils. The anomaly is associated with outcropping mineralised quartz veins on a steep east-facing slope which have never been previously sampled. The extensive vein system has been mapped over a length of at least 1,300m with veins samples from its southern end assaying up at a neat 7.8 g/t gold. The 43.8 g/t gold sample was picked up about 250m away in a narrow quartz vein associated with old workings.

A smaller western anomaly about 1.3km x 0.3km showed up to 245 parts per billion gold in soils. At its northern end lies the Lois quartz vein system where several rock chip samples assayed over 100 g/t gold, with a crowning value of 512.7 g/t gold in a thin 30cm wide vein.

The southern anomaly measures 1.4km x 0.5km and has a peak value of 698 parts per billion gold in the soils and up to 4.49 g/t gold in rock-chip samples associated with multiple narrow quartz veins on the south-west edge of the anomaly.

The company’s Humboldt Range project currently comprises 318 lode mining claims in Nevada in two claim groups, Black Canyon and Fourth of July. It is situated between two large-scale active mines; the Florida Canyon gold mine and the Rochester silver-gold mine. Access to the project is via roads off the main interstate highway, which lies less than 15km to the west of the claims. The geology of the Humboldt Range is consistent with bonanza-style epithermal gold-silver mineralisation and bulk mineable epithermal gold-silver mineralisation, both of which are well known in Nevada. Widespread, narrow, high-grade epithermal quartz veins of varying thickness with common visible gold occur within the claims, which were historically mined via numerous adits and underground workings between 1865 and 1927. Gold-bearing veins typically occur in swarms or as isolated veins but can manifest as broad zones of sheeted or anastomosing veins within zones of intensely altered and mineralised host rocks.

PolarX says further field evaluation of the gold and silver soil anomalies for both the Black Canyon and the Fourth of July claim blocks will be undertaken in mid-September 2021. The field inspections will allow PolarX geologists to better understand the geology associated with each soil anomaly and to plan and permit future drilling. Prioritisation of targets for drilling will commence during the field evaluation, with permitting for drilling to commence immediately thereafter.

Importantly, PolarX points out that each of the three anomalies are large in scale which may indicate bulk-mineable targets like the nearby 5-million-ounce Florida Canyon Gold Mine only 3km to the northwest.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au