Tillkännagivande • May 31
PolarX Limited Announces Geophysics Results and Sampling Assays from Alaska Range Project PolarX Limited announced outstanding geophysics results and surface sampling assays that together highlight the potential for a major copper-gold system at the company's Alaska Range Project. New 3D magnetic inversion modeling has identified a large magnetic body with a diameter of 3.5km that extends north from the Zackly magnetite skarn deposit across Jupiter to the Gemini prospect. High-grade surface mineralization directly overlies several magnetic apophyses interpreted to emanate from the deeper intrusive body, significantly enhancing the prospectivity of the system for large-scale intrusion-related copper-gold mineralization. A total of 128 rock chips were collected and samples, returning widespread high-grade copper and gold results at the Jupiter and Mars and surrounding prospects. The company's Alaska Range Mine Development has a total JORC resource of 11.2Mt; 269,375t Cu, 213,000oz Au and 3,131,000 oz Ag. The 2024 Spring Scoping Study showed AUD 625 million pre-tax NPV, AUD 223 million Capex, 74% IRR, 1.6-year payback. New Risk • Mar 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$8.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.1m free cash flow). Earnings have declined by 12% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$51.8m market cap, or US$36.2m). Tillkännagivande • Sep 19
PolarX Limited, Annual General Meeting, Nov 18, 2025 PolarX Limited, Annual General Meeting, Nov 18, 2025. Tillkännagivande • Sep 15
PolarX Limited has completed a Follow-on Equity Offering in the amount of AUD 5.08782 million. PolarX Limited has completed a Follow-on Equity Offering in the amount of AUD 5.08782 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 339,188,013
Price\Range: AUD 0.015
Discount Per Security: AUD 0.0009
Transaction Features: Subsequent Direct Listing Tillkännagivande • Sep 08
PolarX Limited has filed a Follow-on Equity Offering in the amount of AUD 5.025 million. PolarX Limited has filed a Follow-on Equity Offering in the amount of AUD 5.025 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 335,000,000
Price\Range: AUD 0.015
Discount Per Security: AUD 0.0009
Transaction Features: Subsequent Direct Listing New Risk • Apr 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.3m (US$8.91m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$7.2m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 11% per year over the past 5 years. Shareholders have been substantially diluted in the past year (45% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.3m market cap, or US$8.91m). New Risk • Mar 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$7.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$7.2m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 11% per year over the past 5 years. Shareholders have been substantially diluted in the past year (45% increase in shares outstanding). Revenue is less than US$1m (AU$5.0 revenue, or US$3.0). Minor Risk Market cap is less than US$100m (AU$16.6m market cap, or US$10.5m). New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 45% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 7.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (45% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$13.1m market cap, or US$8.14m). New Risk • Dec 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.4m (US$9.79m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 7.3% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$15.4m market cap, or US$9.79m). Minor Risk Shareholders have been diluted in the past year (45% increase in shares outstanding). New Risk • Sep 27
New major risk - Revenue and earnings growth Earnings have declined by 7.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 7.3% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m (AU$100 revenue, or US$69.0). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (AU$23.8m market cap, or US$16.3m). Tillkännagivande • Sep 25
PolarX Limited, Annual General Meeting, Nov 22, 2024 PolarX Limited, Annual General Meeting, Nov 22, 2024. New Risk • Sep 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (59% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$23.8m market cap, or US$16.0m). Tillkännagivande • Aug 06
PolarX Limited has completed a Follow-on Equity Offering in the amount of AUD 3.000185 million. PolarX Limited has completed a Follow-on Equity Offering in the amount of AUD 3.000185 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 300,018,500
Price\Range: AUD 0.01
Transaction Features: Subsequent Direct Listing New Risk • Apr 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$26.6m market cap, or US$17.5m). Tillkännagivande • Feb 28
PolarX Limited has filed a Follow-on Equity Offering in the amount of AUD 4.91885 million. PolarX Limited has filed a Follow-on Equity Offering in the amount of AUD 4.91885 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 409,904,194
Price\Range: AUD 0.012
Transaction Features: Rights Offering New Risk • Dec 03
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.5m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$11.5m market cap, or US$7.66m). Tillkännagivande • Sep 15
PolarX Limited, Annual General Meeting, Nov 22, 2023 PolarX Limited, Annual General Meeting, Nov 22, 2023. Agenda: To discuss the re-election of directors. New Risk • Jun 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.9m (US$9.94m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.0m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 5.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.9m market cap, or US$9.94m). Tillkännagivande • Dec 15
PolarX Limited Completes 5 Holes of Its Current 11-Hole RC Percussion Drilling Program PolarX Limited reported that it has completed 5 holes of its current 11-hole RC percussion drilling program at the highly promising gold-silver Star Canyon prospect within its Humboldt Range Project in Nevada, USA. Star Canyon was previously drilled in May 2022 by PolarX, intersecting bonanza gold grades in hole BC22-005, comprising 9.1m @ 124.4g/t Au and 48.6g/t Ag. The Humboldt Range Project lies less than 3km from the currently operating Florida Canyon Mine, which hosts 5Moz gold. The Humboldt Range Project comprises lode mining claims in Nevada in two claim groups: Black Canyon and Fourth of July and is situated between two large-scale active mines: the Florida Canyon gold mine and the Rochester silver-gold mine. Access to the project is straightforward via roads off the I-80 Interstate Highway, which lies less than 15km to the west of the claims. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. 1 independent director (3 non-independent directors). Independent Non-Executive Director Bob Boaz was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Tillkännagivande • Oct 19
Polarx Limited Reports Positive Results from the Scoping Study Conducted for the Alaska Range Copper Gold Project PolarX Limited reported positive results from the scoping study conducted for the Alaska Range Copper Gold Project which evaluated sequential mining and processing options for the high-grade Caribou Dome VMS Copper deposit and the nearby Zackly Copper-Gold-Silver skarn deposit. Key outcomes from the Scoping Study are presented in this announcement, together with the underlying material assumptions. This scoping study is based on the 2017 Caribou Dome mineral resource estimate, an updated mineral resource estimate for Zackly and new metallurgical test work results for both deposits as detailed in this release. The study reveals several key aspects: Sequentially mining Zackly followed by Caribou Dome using one plant modified for each is feasible. Mining is best commenced underground at Zackly and mining at Caribou Dome would commence as a shallow, high-grade open pit, prior to underground mining. Relatively fast capital recoupment is possible and could accommodate a short mine-life. Modest resource extensions at either deposit could significantly enhance projected economic returns. Potential remains to improve copper recovery at Caribou Dome and gold recovery at Zackly with further metallurgical test-work. Revenue from copper contributes more than gold at the assumed commodity prices. Project economics are most responsive to the copper price and copper recovery. Both can be enhanced further by infill and expansionary drilling and by improved metal recoveries via further metallurgical test-work. Significant resource expansion potential is evident at Caribou Dome where the most recent drilling (19m at 7% Copper) remains open at depth and along strike, and at Zackly which remains open at depth and immediately along strike to the east of the mineral resource. The Study outcomes fully justify additional investment on extension drilling at both deposits where an increase in mineral resources could significantly enhance projected returns. Summary; Key assumptions and results of the study include: Increased size of the Zackly mineral resource estimate to 4.0Mt @ 1.1% Cu and 1.6g/t Au. Metallurgical recoveries of 90% copper and 79% gold from flotation at Zackly, and 78% copper recovery from flotation at Caribou Dome. Processing scheduled to occur at 600ktpa over 6.5 years, with mining commencing at Zackly and then moving to Caribou Dome, with mineralisation processed through a common conventional sulphide flotation plant, modified when production shifts from Zackly to Caribou Dome. Returns are most sensitive to copper price, metallurgical recovery and operating costs. · Key economic outcomes on a 100% project basis and without finance leverage . Tillkännagivande • Sep 27
PolarX Limited, Annual General Meeting, Nov 18, 2022 PolarX Limited, Annual General Meeting, Nov 18, 2022. Tillkännagivande • Aug 08
Polarx Limited Announces Sampling Underway on Large Outcropping Vein System at Black Canyon, Nevada PolarX Limited is undertaking further sampling after recent bonanza gold and silver grades were drilled in mineralised veins at the Star Canyon prospect. Star Canyon is in the Black Canyon claims within the Company's Humboldt Range Project in Nevada, USA. Several saw-cut channel lines are currently being sampled at the Golden Staircase target in the Humboldt Ranges near the Star Canyon prospect. Four channels are being cut, ranging from 120m to 200m in length. Continuous sampling is being undertaken along each channel cut, with a sample being taken along each 1.5 metre interval in a similar continuous manner to drill-core, effectively replicating a surface drill hole. The Company is testing the Golden Staircase target due to its coincidence with strongly anomalous gold in soil sampling results, previous gold-rich rock-chip samples, an association with intense vein swarmsexposed in rocky outcrops and its close proximity to trail road access. Sampling is expected to be complete later this month, with assays expected 4-6 weeks later. Drilling to test this target, and additional drilling to follow-up the 9.1m @ 124g/t Au + 48g/t Ag intersected recently in Star Canyon is planned for later this season. Tillkännagivande • Jul 16
Polarx Limited Announces Management Update Following the recent announcement by PolarX Limited of the discovery of high-grade gold mineralisation in Nevada, the following management changes have been implemented. These changes will result in a reduction in overall management costs, and are effective immediately: Dr. Jason Berton has transitioned to Managing Director and will take the leading role in advancing the geological and technical aspects of PolarX's Nevada and Alaskan assets. Dr. Berton was a founding director of Vista Minerals Pty Ltd. which merged with Coventry Resources Limited to form PolarX, brought the Humboldt Range, Nevada opportunity to PolarX last year and has been an executive director since 2017. Mr. Mark Bojanjac, current Executive Chairman will now also manage the company's marketing and capital raising activities in Australia and overseas. Dr. Frazer Tabeart has moved to a Non-Executive Director role and will continue to provide specialist technical input as required, particularly with respect to PolarX's porphyry discovery in Alaska and the scoping study evaluating the nearby high-grade Caribou Dome and Zackly deposits. Tillkännagivande • Jul 05
PolarX Limited Reports Assays Which Confirm Bonanza Gold and Silver Grades in Mineralised Veins Associated with Carlin Style Mineralization At the Star Canyon Prospect Within Its Humboldt Range Project in Nevada, USA PolarX Limited reported outstanding assays which confirm bonanza gold and silver grades in mineralised veins associated with Carlin style mineralization at the Star Canyon prospect within its Humboldt Range Project in Nevada, USA. The coincidence of the two mineralisation styles within the one project demonstrates the potential for high grade veins to significantly increase the metal inventory of a large tonnage Carlin style resource that may be present and that could be amenable to a bulk mining operation. The maiden RC drill program at Star Canyon consisted of 10 Reverse Circulation (RC) percussion holes to test the strong gold and silver anomaly identified from PolarX's soil sampling program. Drill holes were largely set to west dipping inclinations due to the angle of the terrain to test the bulk tonnage potential of the anomaly. The RC drilling program has only tested an area of 600m x 400m within the soil anomaly which measures 2,500m x 1,000m. The Star Canyon prospect lies with the Black Canyon claims at the northern end of Humboldt Range and is less than 3km from the currently operating Florida Canyon Mine, which hosts 5Moz gold and the Rochester Mine is about 20km south of the Fourth of July claims. Drilling has confirmed that mineralisation is hosted within strongly silicified limestone with extensive quartz veining in a Carlin-style setting. An east dipping hole (BC22-005) was drilled to test for west-dipping vein structures observed at the nearby historic Champion Mine workings, and intercepted a bonanza grade vein consistent with historical vein samples encountered elsewhere in the Black Canyon tenure. Hole BC22-005 is situated 100m south of the artisanal Champion Mine workings and the veins discovered in the drilling are not exposed at surface. The bonanza grade vein was intercepted between 27.4 and 36.6m down-hole depth and averages 124.36 g/t Au & 48.6 g/t Ag. Two individual 1.52m samples assayed 352.79 g/t Au & 134 g/t Ag and 389.27 g/t Au & 153 g/t Ag from 27.4 to 30.5m downhole depth, immediately followed with 73.15m at 0.28 g/t Au from 36.6m to end of hole at 109.73m. This hole was terminated in mineralisation grading 0.29g/t Au and 4.3g/t Ag due to technical issues. Quartz veins identified in the historical Champion Mine workings strike NNE and dip steeply (about 80o) to the west and can be traced for about 450m along an intense zone of quartz veining and silica flooding. This zone remains untested outside hole BC22-005 due to the west dipping inclinations of all other drill holes in the program being unable to intercept the steep west dipping vein structures from their drill pads. Access to the mine is limited but only minor surface disturbance indicates mining activities at Champion were not extensive. BC22-005 was drilled 100m to the south of these historical workings to avoid any potential voids. Follow-up diamond drilling is planned to confirm vein continuity, grades and true thicknesses and will also attempt to drill beneath the historical workings. Hole BC22-004 intercepted 61m @ 0.19 g/t Au and was drilled dipping away from the bonanza vein yet still encountered strong Carlin-style mineralisation. Hole BC22-010 drilled in the projected hanging-wall of the bonanza vein into the Carlin system but away from the vein system and BC22-007 drilled into the Carlin system but into the vein footwall with a hole depth too short to intercept the vein. PolarX is highly encouraged by these assay results and is prioritising follow-up drilling at Star Canyon and the nearby Ridgeline Target. Ridgeline has good road access and can be drilled from the roadside to test for high-grade veins within Carlin style mineralisation similar to Star Canyon. The Humboldt Range Project comprises 333 lode mining claims in Nevada in two claim groups: Black Canyon and Fourth of July and is situated between two large-scale active mines: the Florida Canyon gold mine and the Rochester silver-gold mine. Access to the project is straightforward via roads off the I-80 Interstate Highway, which lies less than 15km to the west of the claims. Widespread narrow vein mineralisation with visible gold occurs within the claims and was historically mined via numerous adits and underground workings between 1865 and the 1927. Mineralisation occurs in swarms of high-grade epithermal quartz veins of varying thickness (reported from 1cm to 3m), either as isolated veins or as broad zones of sheeted/anastomosing veins within zones of intensely altered and mineralised host rocks. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. 1 independent director (3 non-independent directors). Independent Non-Executive Director Bob Boaz was the last independent director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Tillkännagivande • Apr 21
PolarX Limited Announces 3,000m RC Drilling Program Commences at Humboldt Range PolarX Limited announced commencement of RC percussion drilling of the highly promising gold-silver drill target near the head of Star Canyon in the Black Canyon claims within its Humboldt Range Project in Nevada, USA. A minimum program of ten holes for 1,500m is planned, followed by a similar program at the nearby Fourth of July claims. Black Canyon is at the northern end of Humboldt Range and is less than 3km from the currently operating Florida Canyon Mine, which hosts 5Moz gold. New Infill Soil Sampling Results and Final Channel Sampling Results from Star Canyon: Infill soil sampling and channel sampling was completed at Star Canyon over heavily altered and mineralised volcanic rock outcrops within a very large gold, silver, lead and arsenic in soil geochemical anomaly. Results of these programs and location of the planned RC drill collars are presented below. Infill Soil Sampling Results. The entire Black Canyon claim block was previously sampled on a 200m x 50m grid basis and has been infilled to a 100m x 25m grid over gold/silver anomalous areas: Infill sampling highlights a very large cohesive gold anomaly in the eastern part of the claims, which extends for over 2300m along strike and approximately 900m across strike at >30ppb gold. Previous geochemical orientation soil surveys by the Company confirmed that 30ppb gold is considered anomalous and may represent bedrock mineralisation. The infill sampling also highlights that the large gold anomaly is associated with highly anomalous levels of silver, lead and arsenic, consistent with observations of mineralised samples in the field. Within this large multi-element soil geochemical anomaly, the eastern part of Star Canyon contains a coherent gold in soil anomaly which is situated at the 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. Channel Sampling Results: Channel sampling has been undertaken across extensive outcropping ridges of intensely silicified and oxidised volcanic rocks hosting multiple quartz vein arrays and old gold-silver workings within the Star Canyon gold anomaly. Highly anomalous gold and silver levels were recorded in six of the eleven channels that were sampled: The anomalous surface channel sampling results are consistently at or above the cut-off grades at the two proximal large-scale mines, confirming their potential commercial significance prior to drilling. This area represents the Black Canyon's best-known target for large tonnage, low to moderate grade gold-silver mineralisation, with drill testing now underway. Next Steps: A 1,500m (ten hole) program of RC drilling has commenced in Star Canyon, with a similar program to follow at the Fourth of July claims. This initial drilling is expected to be finished in approximately four weeks. Tillkännagivande • Feb 24
PolarX Limited Announces Very High-Grade Copper Assays from Infill Drilling at its Caribou Dome Copper Project in Alaska PolarX Limited announced very high-grade copper assays from infill drilling at its Caribou Dome Copper Project in Alaska. The results are important because they underpin the strength of the Resource and demonstrate the strong potential to develop Caribou Dam in conjunction with PolarX's nearby Zackly deposits. The drilling program, subsequent metallurgical test work and Scoping Study form part of PolarX's well advanced earn-in for an 80% joint venture interest in the Caribou Dome Project. Massive Sulphide intersections in 2021 drilling PolarX drilled four holes at Caribou Dome in August/September 2021 to provide samples of copper mineralisation for metallurgical test work. The holes were drilled into predicted zones of copper mineralisation hosted in massive to semi-massive sulphides as predicted by the resource block model used for resource estimation in April 2017. Key Observations are as follows: CD21-001. Drill hole CD21-001 intersected 3 distinct zones within a 39m down-hole thickness of calcareous and locally graphitic, fine grained argillaceous sediments. The sulphides are extremely fine grained and form thin laminations with very fine-grained calcareous argillite. Soft sediment deformation textures including slumping and fluid escape textures are present, along with locally well-preserved graded bedding. All three zones drilled contain very high grades of copper, locally up to 15% Cu. CD21-002. This hole intersected two zones of semi-massive to blebby sulphides measuring 5.9m and 9.0m true thickness within a broad zone of calcareous argillite and fine-grained limestone. Sulphide mineralisation is extremely fine grained, making visual distinction between pyrite and chalcopyrite challenging. The lower-grade of these two intersections show that pyrite dominates over chalcopyrite in this particular part of the lode. Other parts of this lode (off-section) contain a higher ratio of copper to iron sulphides and are commensurately higher grade. CD21-003. This hole intersected 10.7m down-hole thickness of very fine-grained, laminated, massive to semi-massive sulphides within a 11.5m down-hole thickness of fine-grained calcareous sediments. CD21-004. This hole was terminated after 50m of drilling into heavily faulted andesitic volcanic rocks and was not drilled to target. Assays are still pending for the four additional exploration holes which were drilled at Caribou Dome in September 2021 (CD21-005 to CD21-008) and which intersected finely disseminated and vein hosted native copper spanning a length of 1.1km. Tillkännagivande • Feb 16
PolarX Limited Announces Strong Sampling Results at Humboldt Range Project in Nevada, USA PolarX Limited announced strong channel sampling assays have exposed a highly promising gold-silver drill target near the head of Star Canyon in the Black Canyon claims within its Humboldt Range Project in Nevada, USA. In light of these strong assays, PolarX has moved quickly to apply for a drilling permit and finalise a drilling contractor. As a result, drilling is expected to start early next quarter. Black Canyon is at the northern end of Humboldt Range and is less than 3km from the currently operating Florida Canyon Mine, which hosts 5Moz gold. Channel sampling has been completed along eleven traverses at Star Canyon over heavily altered and mineralised volcanic rock outcrops within a large gold in soil geochemical anomaly. Highly anomalous gold and silver assay results have been received for the majority of the first three traverses, so far covering a cumulative length of 245m across the strike of the mineralisation and alteration. The most significant geochemical gold in soil sample anomaly in the Black Canyon project is in the east of the claim block at the head of Star Canyon. The eastern part of Star Canyon contains a large gold in soil anomaly which is situated at thebreak 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 Companyexpects to finalise a drilling contract imminently. Tillkännagivande • Jan 28
Polarx Limited Announces Preparations Underway for 20-Hole Drilling Campaign at Humboldt Range Gold-Silver Project, Nevada PolarX Limited announced that preparations are underway for an initial 3,000m reverse circulation percussion (RC) drilling program at its HumboldtRange Project in Nevada. Drilling will initially commence in the Fourth of July claims, where lower elevations and gentler topography make this accessible 2-4 weeks earlier than the higher, more rugged Black Canyon claims further to the north. Three targets have been prioritised for drilling in the Fourth of July claims. Lucky Dog Target comprises a known quartz vein hosting high grade silver and gold mineralisation which dips gently to the north. The vein occurs near the base of the Prida Formation (predominantly clastic carbonates), which is one of the most frequent positions for high-grade mineralisation in the claim block. Two drill holes will test this target. Wheeler Veins Target also occurs where gently dipping high-grade veins near the base of the Prida Formation have been identified. Numerous and extensive historical workings confirm this target. A single hole will test the thickness and grade of the vein near the peak of the surface gold-in-soil geochemical anomaly. Arizona Graben Fault Target is a large target approximately 2km long. This drilling will test the intersection of the sub-vertical to steeply west dipping Arizona Graben Fault with the sub-horizontal to gently east dipping stratigraphy, particularly the base of the Prida Formation and the upper part of the underlying Rochester Rhyolite. This target assumes that mineralisation in the region has been formed from fluids which were channelled along the Arizona Graben Fault. The known high-grade silver-gold veins occur where these fluids migrated into the basal parts of the Prida Formation, but the Prida itself immediately adjacent to the Fault and the stratigraphy immediately above and below have never been drilled. Seven holes will test this target along 300m centres, with holes drilled steeply towards the ENE to test the stratigraphy adjacent to the Arizona Graben Fault, and the fault itself. Black Canyon Targets: A further 10 RC holes for a total of 1500m are planned to test the most prominent gold target in the Black Canyon claims (Figure 3). This target (Star Canyon) comprises an area with strongly elevated gold-in-soil sampling associated with intensely silicified outcrop containing hundreds of mm to cm- scale hydrothermal quartz veins and several historical workings. The alteration reaches widths of up to 200m and extends over more than 400m of strike length beforebeing concealed under thin soils to the north and south. This area represents the best-known target in the entire project for large tonnage, low-moderate grade gold and silver mineralisation. Infill soil samples and detailed channel samples representing a cumulative length of 467.8m weresubmitted to the assay laboratory in Reno, Nevada on 19 November 2021. Assays are expected in the next 4-6 weeks and will be used to fine tune the drill program. Additional drill targets exist in the Black Canyon claims but require further planning and permitting where access may not be suitable for large RC rigs. Tillkännagivande • Dec 16
PolarX Limited announced that it expects to receive AUD 1.37642 million in funding PolarX Limited announced a private placement of 43,013,125 common shares at an issue price of AUD 0.032 for the gross proceeds of AUD 1,376,420? on December 16, 2021. The transaction will include participation from sophisticated and professional investors. The transaction is expected to close on December 22, 2021. Tillkännagivande • Nov 30
PolarX Limited Announces Completion of Four Major Exploration Programs PolarX Limited announced that it has successfully completed four major exploration programs in the last four months, with assays pending from each.These programs, in chronological order of completion, are: Caribou Dome: Drill intersections containing massive copper and iron sulphides from the mineral resource estimate envelope. Caribou Dome: Drill intersections containing disseminated and vein-hosted native copper mineralisation hosted in andesitic-basalt lava flows and of a similar nature to the Keweenaw copper deposits in Michigan. These samples were submitted to the sample preparation laboratory in early October. Humboldt Range Project, Nevada: Channel samples of outcropping alteration and mineralisation associated with extensive stockworks of quartz veins in the Star Canyon area. Previous field validation identified extensive outcropping ridges of intensely silicified and oxidised volcanic rocks hosting multiple quartz vein arrays and old gold-silver workings. The alteration reaches widths of up to 200m and extends over more than 400m of strike length before being concealed under thin soils to the north and south. This area represents the best-known target in the entire project for large tonnage, low-moderate grade mineralisation. Channel samples representing a cumulative length of 467.8m were submitted to the assay laboratory in Reno, Nevada on 19 November. Humboldt Range Project: Infill soil sampling to define the best gold anomalies more precisely in the Black Canyon claims. Assay results and samples from the first program, noted in (1) above, will add information to the Scoping Study evaluating the potential for joint operations at the Caribou Dome copper deposit and the Zackly copper-gold deposit. The Scoping Study is expected to be complete in First Quarter 2022. Assay results for the other programs, noted in (2) - (4) above, will be used for detailed planning of 2022 drilling campaigns in both Nevada and Alaska. Drilling is expected to commence in Nevada in First Quarter 2022. Tillkännagivande • Jul 07
PolarX Limited Announces Strong Soil Sampling Results PolarX Limited to announced strong soil sampling results which identify several large, high-grade silver-gold anomalies at the Fourth of July claims within its Humboldt Range Project in Nevada, USA. Fourth of July is at the southern end Humboldt Range and is less than 15km from the operating Rochester Mine, which hosts 400Moz silver and 3Moz gold. The geochemical soil sampling anomalies coincide with mapped geological structures and known mineralised quartz veins but have also highlighted additional areas for further evaluation. Generation of drill targets has already commenced with permitting for drilling to commence later this quarter. Soil sampling on an E-W 200m x 50m grid was recently completed by PolarX covering most the Fourth of July claims in the Humboldt Range Project. This program complements detailed soil sampling previously undertaken by Renaissance Exploration Inc. over part of the project area in 2014/2015, which has been validated by PolarX and incorporated into the project database. A prominent, large silver anomaly occurs in the south-west part of the claims, associated with two major N-S striking faults which form the Arizona Graben. The silver anomaly is over 3.5km long, up to 2km wide and has a peak value of 186g/t silver in the soils. Rock chip samples from quartz veins within the anomaly (reported to ASX on 27 May 2021) show high to very high levels of silver,
with many samples containing more than 1,000g/t silver. Very limited historical RC drilling (7 holes by Renaissance Exploration Inc. in 2015) has been undertaken within this silver anomaly, which remains effectively untested. Tillkännagivande • Jun 23
New High-Priority Targets for Massive Sulphide Copper Mineralisation to Be Drilled in Alaska PolarX Limited announced that it has secured a contractor for a core drilling program at the high-grade Caribou Dome Copper Project in Alaska. At least 1,500m of core drilling is scheduled to commence August 2021. The drilling and subsequent metallurgical test work will form part of PolarX's earn-in for 80% of Caribou Dome Project under revised terms agreed last year. This drilling program is designed to meet two goals: Test three newly developed exploration targets each of which has the potential to host one or more massive sulphide lenses. Provide high-grade copper sulphide samples for metallurgical testing to determine potential co-processing options with copper mineralisation from PolarX's 100% owned neighbouring high-grade Zackly copper-gold project. Copper mineralisation at Caribou Dome occurs in nine known lenses of massive sulphide mineralisation. Previous exploration revealed these lenses show strong copper anomalism in surface soil sample assays, and can also be broadly mapped/predicted using induced polarization (IP) geophysical surveys, displaying chargeability highs. Three new un-drilled targets have been prioritised by PolarX after a thorough review of geochemical soil sampling data and 3D imaging of the IP data. The three new targets are all less than 500m from known mineralisation, and all have surface copper anomalism and coincident 3D IP chargeability highs. Each target therefore has high potential to host one or more lenses of massive sulphide mineralisation. Four dill holes are also planned to intersect known high-grade massive sulphide lenses at Caribou Dome to provide fresh samples to assess its potential combination with PolarX's 100% owned, high grade Zackly copper-gold project. Tillkännagivande • Jun 02
PolarX Limited Expands Land Holding at Humboldt Range PolarX Limited announced that it has expanded its land holding at the Company's Humboldt Range Gold-Silver Project in Nevada USA after receiving bonanza silver assays and identifying visible mineralised outcrop outside of the existing claims at Fourth of July. A total of 45 new lode claims have been staked at Fourth of July, securing the mineralisation noted during transit to field areas, including gossanous breccias and old workings. Soil sampling and rock-chip sampling has been undertaken on these new claims, with assays expected in the next 2-3 weeks. Fourth of July is at the southern end of PolarX's Humboldt Range Project and is less than 15km from the Rochester Mine, which hosts 400Moz silver and 3Moz gold. The northern end of Humboldt Range contains the Company's Black Canyon claims which are less than 3km from the Florida Canyon Mine which hosts 5Moz gold. The Humboldt Range Project thus lies between two active gold and silver mines, and mapping to date has confirmed similar geology along the entire trend. Humboldt Range Background: The Humboldt Range Project currently comprises 318 lode mining claims in Nevada in two claim groups: Black Canyon and Fourth of July and is situated between two large-scale active mines: the Florida Canyon gold mine and the Rochester silver-gold mine. Humboldt Range contains geology consistent with bonanza-style epithermal gold-silver mineralization and bulk mineable epithermal gold-silver mineralisation, both of which are well known in Nevada. Access to the project is straightforward via roads off the I-80 Interstate Highway, which lies less than 15km to the west of the claims. Widespread narrow vein mineralisation with visible gold occurs within the claims and was historically mined via numerous adits and underground workings between 1865 and the 1927. Mineralisation occurs in swarms of high-grade epithermal quartz veins of varying thickness (reported from 1cm to 3m), either as isolated veins or as broad zones of sheeted/anastomosing veins within zones of intensely altered and mineralised host rocks. Fieldwork commenced at the Fourth of July claims in mid-April. The field activities include: Integration of data collected by Renaissance Exploration Inc. in 2015/16 into the PolarX database has been completed, including data related to vein sampling, soil sampling and geological mapping in the central part of the Fourth of July claims. These data have been validated via assessment of assay certificates and field notes accompanying the sampling. Geological mapping over the entire claim block incorporating data from previous mapping by Renaissance Exploration Inc., Victoria Gold Corp, and the US Geological Survey. Systematic soil sampling on a notional 200m x 50m grid, has now been completed over Fourth of July with a total of 1,248 soil samples and 88 rock chip samples collected and submitted for assay. Ultra-high-resolution drone orthophotography and digital terrain mapping for use as 3-D base maps has been collected over the entire Humboldt Range Project and is now being processed. Similar programs of rock-chip sampling of known veins and systematic soil sampling of the Black Canyon claims will be finished later this week. Integration of all exploration data to define preliminary drill targets is expected in July-August, allowing drill permitting to commence in August for a potential Fourth Quarter drilling campaign following PolarX's Third Quarter drilling campaign in Alaska. Tillkännagivande • May 29
PolarX Limited Announces Bonanza Silver Grades with Gold Credits in First Assays PolarX Limited announced very high-grade silver assays accompanied by significant gold grades which verify and extend high-grade historical rock chip samples from the southern-most veins at Fourth of July in the Humboldt Range Project, Nevada USA. More than 50 assays have been received from rock-chip samples collected by PolarX at the Jackson, Cottonwood, Black Warrior and Lucky Dog veins. All veins returned high silver grades, several with bonanza grades well above 1000 g/t. These results complement and extend historical sampling which showed similar silver results and gold grades up to 17.3g/t: Fourth of July is at the southern end of PolarX's Humboldt Range Project and is less than 15km from the Rochester Mine, which hosts 400Moz silver and 3Moz gold. In addition to rock-chip sampling of known veins, systematic soil sampling on a notional 200m x 50m grid has been completed over all the Fourth of July claims, with assays expected in 2-3 weeks. Systematic soil sampling, vein sampling and geological mapping of the more gold-dominant Black Canyon claims to the north is underway, where previous sampling returned peak vein samples of up to 3,384g/t gold, 2,837g/t silver, 22.9% lead and 3.1% zinc. Assays are expected in June/July. On completion of field programs in Nevada, PolarX technical staff will relocate to Alaska to prepare for a core drilling program at the high-grade Caribou Dome copper project (2.8Mt @ 3.1% Cu), which is expected to commence in August. Nevada field program first assays: Field work commenced at the southern part of the Fourth of July claims in the Humboldt Range Project in April. Previous sampling indicated that the veins in the southern part of the claims are generally silver dominant over gold and become progressively more gold rich to the north into the Black Canyon claims. Assays have been received for 51 rock-chip samples over veins at Black Warrior, Jackson, Cottonwood and Lucky Dog, showing high grades of silver (up to 1500g/t Ag) and strong gold grades. These complement historical sampling by Victoria Gold and Renaissance Exploration Inc. PolarX sampling and historical assay results for the Jackson Vein demonstrate it's high grade nature with consistent bonanza silver grades and strong gold grades over a strike length of 330m. PolarX's initial rock chip assays at Cottonwood support the presence of high-grade silver and gold mineralisation at Cottonwood over a strike length 370m. Black Warrior vein has a 515m strike length and is accompanied by East Warrior (strike length 200 m) and West Warrior (strike length 165m) veins. Lucky Dog A and Lucky Dog B veins amount to 260m strike length with a minor trend offset. PolarX is awaiting further rock chip and soil sampling assays from the Fourth of July project, which are expected in 2-3 weeks. Fieldwork commenced at the Fourth of July claims in mid-April. The field activities include: Integration of data collected by Renaissance Exploration Inc. in 2015/16 into the PolarX database has been completed, including data related to vein sampling, soil sampling and geological mapping in the central part of the Fourth of July claims. These data have been validated via assessment of assay certificates and field notes accompanying the sampling; Geological mapping over the entire claim block incorporating data from previous mapping by Renaissance Exploration Inc., Victoria Gold Corp, and the US Geological Survey; Systematic soil sampling on a notional 200m x 50m grid, has now been completed over Fourth of July with a total of 1,248 soil samples and 88 rock chip samples collected and submitted for assay; Ultra-high-resolution drone orthophotography and digital terrain mapping for use as 3-D base maps has been collected over Fourth of July and is being processed; Similar programs of rock-chip sampling of known veins, systematic soil sampling and ultra- high-resolution orthophotography have commenced Black Canyon; Integration of all exploration data to define preliminary drill targets is expected in July-August, allowing drill permitting to commence in August for a potential Fourth Quarter drilling campaign following PolarX's Third Quarter drilling campaign in Alaska. 2021 Alaskan Drilling Program Update: During May, PolarX applied for permits to further drill the exceptionally high-grade Caribou Dome copper project in August 2021. Caribou Dome contains 2.8Mt @ 3.1% Cu in Measured, Indicated and Inferred Resources with copper occurring in massive sulphide lenses associated with volcaniclastic sediments. These lenses remain open along strike and at depth. Caribou Dome currently has heightened significance to PolarX's Alaskan Range Project with copper prices now at or close to historical highs. The drilling program is being planned for three purposes: to collect more copper bearing massive sulphides for additional metallurgical test-work; testing additional new geochemical/geophysical targets which were not followed-up in previous drilling campaigns in 2015 and 2016, and targeting extensions of high-grade known sulphide lenses. Tillkännagivande • May 06
Polarx Limited Announces Soil Sampling, Geological Mapping and Rock-Chip Sampling of Exposed Epithermal Veins Is Advancing Smoothly Within the Highly Prospective Humboldt Range Gold-Silver Project in Nevada, USA PolarX Limited announced that soil sampling, geological mapping and rock-chip sampling of exposed epithermal veins is advancing smoothly within the highly prospective Humboldt Range Gold-Silver Project in Nevada, USA. Previous sampling, reported by PolarX on 11 January 2021 and 2 February 2021, included assays of up to 3,384g/t gold, 2,837g/t silver, 22.9% lead and 3.1% zinc from epithermal quartz veins and mine dumps associated with historical workings. The Humboldt Range Project comprises 273 lode mining claims in Nevada in two claim groups: Black Canyon and Fourth of July and is situated between two large-scale active mines: the Florida Canyon gold mine and the Rochester silver-gold mine. Humboldt Range contains geology consistent with bonanza-style epithermal gold-silver mineralisation and bulk mineable epithermal gold-silver mineralisation, both of which are well known in Nevada. The claims have been owned by the same family since the 1950's and only limited exploration has been reported. Access to the project is straightforward via roads off the I-80 Interstate Highway, which lies less than 15km to the west of the claims. Widespread narrow vein mineralisation with visible gold occurs within the claims and was historically mined via numerous adits and underground workings between 1865 and the 1927. Mineralisation occurs in swarms of high-grade epithermal quartz veins of varying thickness (reported from 1cm to 3m), either as isolated veins or as broad zones of sheeted/anastomosing veins within zones of intensely altered and mineralised host rocks. Fieldwork commenced at the Fourth of July claims in mid-April: PolarX found that Renaissance Exploration Inc. undertook a limited program of vein sampling, soil sampling and geological mapping in the central part of the Fourth of July claims in 2015/16. This information is being incorporated into PolarX's database and will be reported once fully validated. Detailed geological mapping has commenced over the entire claim block and will incorporate previous mapping by Renaissance Exploration Inc., Victoria Gold Corp, and the US Geological Survey. Rock-chip sampling has commenced along known epithermal veins in the southern part of the claim-block. To date, 73 rock-chip samples have been collected along the Black Warrior Vein, Jackson Vein, Lucky Dog Vein, Cottonwood Vein and veins in the Arizona Canyon mine area. Assays for the first 60 samples are expected in 2 weeks. Systematic soil sampling has commenced on a notional 200m x 50m grid, with 503 samples collected to date and approximately 400 more samples planned. Contractors are now on site and have commenced collecting ultra-high-resolution drone orthophotography and digital terrain mapping for use as 3-D base maps. The first pass evaluation of Fourth of July is expected to be complete within 2 weeks, following which the field crews will commence a similar program on the Black Canyon Claims. Integration of all exploration data including assays to define preliminary drill targets is expected in July-August, allowing drill permitting to commence in August for a potential drilling campaign in the December Quarter. Tillkännagivande • Mar 04
Polarx Limited Successfully Stakes and Register 96 New Federal Lode Claims to Consolidate Tenure at the Fourth of July Area in the Humboldt Range Project, Nevada PolarX Limited advised that it has successfully staked and registered 96 new federal lode claims to consolidate tenure at the Fourth of July area in the Humboldt Range Project, Nevada. The Humboldt Range Project now comprises 273 lode mining claims in two groups: Black Canyon and Fourth of July. The 96 new lode claims at Fourth of July will be subject to the Mine Lease Agreement with the existing claim owners once PolarX exercises the option to acquire the Mine Lease Agreement from the vendor. Legal due diligence on the existing 177 lode claims is still in progress and is expected to be completed within the next two weeks, following which PolarX's option to acquire the mining rights may be exercised. Background: The Humboldt Range Project is situated between two large-scale active mines: the Florida Canyon gold mine, and the Rochester silver-gold mine. Humboldt Range contains geology consistent with bonanza-style epithermal gold-silver mineralisation and bulk mineable epithermal gold-silver mineralisation, both of which are well known in Nevada. The claims have been owned by the same family since the 1950's and very limited exploration has been reported. Access to the project is straightforward via roads off the I-80 Interstate Highway, which lies less than 15km to the west. Widespread narrow vein mineralisation with visible gold occurs in the claims and was historically mined via numerous adits and underground workings between 1865 and the 1927. Mineralisation occurs in high-grade epithermal quartz veins of varying thickness (reported from 1cm to 3m), either as isolated veins or as zones of sheeted/anastomosing veins within zones of intensely altered and mineralised host rocks. Upon exercise of the option to acquire the Mine Lease agreement, PolarX will immediately commence an evaluation of the length and continuity of the vein sets to determine whether high-grade mineable widths and tonnages are present, along with an evaluation of whether the altered rock between the veins contains economically viable grades of gold and silver amenable to bulk mining. The Humboldt Range Project complements PolarX's Alaska Range Project, providing a longer field season (April-December) for another high-quality project in a Tier-1 jurisdiction which can be serviced by the Company's existing consultants. Tillkännagivande • Feb 11
PolarX Limited announced that it expects to receive AUD 5 million in funding PolarX Limited (ASX:PXX) announced that it has received firm commitments for a private placement of 125,000,000 common shares at an issue price of AUD 0.04 per share for the gross proceeds of AUD 5,000,000 on February 10, 2021. The transaction will include participation from sophisticated and professional investors. The transaction is expected to close on or about February 17, 2021. Tillkännagivande • Feb 04
Polarx Plans Scoping Study on Zackly Gold-Copper-Silver Project Following Latest Drilling Results PolarX Limited announce that it is planning a scoping study on its Zackly gold-copper-silver project in Alaska. The preliminary study will assess the key economics, including costs, tonnages and recoveries and take into account Zackly Main, Zackly East and Caribou Dome. The decision follows the receipt of final drilling results from Zackly East. The final batch of results further confirms the conclusions reported on 17 December 2020 that 4km of strongly magnetic structures at Zackly East are a high priority for further drilling as they are either known to be strongly mineralised or have the same structure as that which hosts the known mineralisation. Zackly East sits immediately adjacent to the Zackly Main skarn deposit, where the JORC Inferred Resource currently stands at 213,000oz of gold, 41,000t of copper and 1.5Moz silver. Assays have now been received for the final seven holes from the 2020 core drilling program which focussed on the Zackly East mineralisation to the east of the PolarX discovery holes which intersected 55m @ 2.8g/t gold and 0.6% copper (hole ZX18020) and 47m @ 3.1g/t gold and 0.6% copper (ZX18024). The most significant results in the recently received assays are those from hole ZX20046 and ZX20053 which further confirm up to 57m of mineralisation on the very strong magnetic structure, and hole ZX20047 which shows that the mineralisation intersected in holes ZX20035 and ZX20040 continues for another 50m along strike. Drilling has identified mineralisation along 2.5km of strike-length since work commenced at Zackly in 1981, predominantly along a series of strongly magnetic structures. Drilling density in the western 1km of the system is sufficient to formulate a JORC resource. Drilling further to the east, over another 1.5km of strike-length, has intersected mineralisation in most holes, but drill density is not yet sufficient for resource modelling. The company has commenced the following work programs to advance Zackly to evaluate its economic viability, either as a stand-alone project, or in some form of combined operation with Caribou Dome (2.8Mt @ 3.1% Cu): Planning is underway for a metallurgical test work program to evaluate processing options for the Zackly mineralisation and the potential for co-processing with Caribou Dome mineralisation: Initial work to evaluate gravity-recovery of coarse gold in the Zackly mineralisation. Evaluation of subsequent flotation of the gravity circuit residue to recover copper sulphides, silver and remaining gold. Comparison of the above dual processing flow sheet with a single phase of flotation only. Comparison of the above results with Caribou Dome flotation results to evaluate co-processing or batch processing options. An initial scoping study to evaluate combined mining and processing of Zackly East, Caribou Dome and Zackly Main mineralisation to help determine minimum resource size required for a viable project and whether Caribou Dome can be mined on a campaign basis and processed at Zackly. Compilation of all available drilling data, surface geochemical sampling, geophysical surveying and spectral analysis into a detailed 3D model which will be used to formulate the next drilling program at Zackly. Over 2.6km of strike-length remains untested at Zackly East, and Zackly Main remains open at depth. In addition to the Zackly skarn mineralisation, the recently acquired ultra-high-resolution magnetic data has highlighted a potential porphyry target to the north and east of current drilling, in which a magnetic high is surrounded by a magnetic low, producing an "eye" structure consistent with geophysical models of porphyry style mineralisation. This target has never been drilled and is a high priority for follow-up. The company is still pursuing farm-out opportunities for its major copper-gold porphyry exploration plans and expects this to accelerate as COVID-19 restrictions ease and vaccination programs take effect. Significantly more evidence of porphyry presence, including the Mars drill intersection (102m @ 0.22% Cu + 0.1g/t Au), has been demonstrated since the previous farm-out arrangement was negotiated. Tillkännagivande • Feb 02
Polarx Limited Announces Assay Results from its Due-Diligence Sampling At the Humboldt Range Gold-Silver Project in Nevada, USA PolarX Limited announced that assay results from its due-diligence sampling at the Humboldt Range Gold-Silver Project in Nevada, USA have verified the presence of high grades of gold and silver at several sites. The sampling was undertaken by PolarX as part of its current option to acquire a Mining Lease Agreement over the highly prospective Humboldt Range project. Humboldt Range comprises 177 lode mining claims in two groups: Black Canyon and Fourth of July. The project is situated between two large-scale active mines: the Florida Canyon gold mine, and the Rochester silver-gold mine. Humboldt Range contains geology consistent with bonanza-style epithermal gold-silver mineralisation and bulk mineable epithermal gold-silver mineralisation, both of which are well known in Nevada. The claims have been owned by the same family since the 1950's and very limited exploration has been reported. Access to the project is straightforward via roads off the I-80 Interstate Highway, which lies less than 15km to the west. Verification of Previous Exploration Results from Humboldt Range: Very limited previous exploration data is available for the Humboldt Range claims other than limited exploration Victoria Gold Corp, who briefly evaluated the area between July 2005 and July 2009. During this period, Victoria Gold Corp. collected rock-chip samples from outcropping quartz veins and sampled mine dumps near many of the abandoned underground workings and adits. A total of 227 samples were collected on the Black Canyon and Fourth of July claims. Of the 227 samples previously collected on the Humboldt Range claims, 44 returned assays over 1g/t Au, of which 19 were above 10g/t Au. Locally very high silver and lead grades were also recorded. The veins in these wide structural corridors are oriented N60E (200-275m wide structural system), N45W (140-200m), ~ N-S (100-130m), and N25-30E (60-100m). Within the structural corridors there are literally hundreds of quartz-sulfide veins that carry visible gold and which range in width from 5cm to over 1.5 meters. Host rocks are strongly silicified over widths up to 5 times the thickness of the veins or more. Previous studies have indicated that the strongly altered host rock can also carry good gold values up to 2m away from 20-30cm wide veins. No exploration for limestone-hosted Carlin-style gold mineralisation has been undertaken to date on the claims. In addition to evaluating individual high-grade veins as possible mining targets, PolarX intends to evaluate these structural corridors to determine if modern-scale bulk mineable widths and grades are present. This will include geological mapping, rock chip and channel sampling and ground geophysics (IP to detect resistivity highs associated with the silicification). PolarX has commenced staking 100 additional lode claims in the Fourth of July area to consolidate the land holdings. Tillkännagivande • Jan 12
Polarx Limited Secures High-Grade Gold-Silver Project in Nevada PolarX Limited announced that it has secured an option to acquire a Mining Lease Agreement over the highly prospective Humboldt Range Gold-Silver Project in Nevada, USA, which comprises 177 lode mining claims. The option gives PolarX a 120-day exclusive period to finalize technical and legal due diligence on the project. Humboldt Range is situated between two large-scale active mines: the Florida Canyon gold mine, and the Rochester silver-gold mine and contains geology consistent with bonanza-style epithermal gold-silver mineralisation which is well known in Nevada. The claims have been owned by the same family since the 1950's and very limited exploration has been reported. Access to the project is straightforward via access roads off the I-80 Interstate, which lies less than 15km to the west. Widespread narrow vein mineralisation with visible gold occurs in the claims and was historically mined via numerous adits and underground workings between 1865 and the 1927. Mineralisation occurs in epithermal quartz veins of varying thickness (reported from 1cm to 3m), either as isolated veins or as zones of sheeted/anastomosing veins within zones of intensely altered host rocks. PolarX intends to immediately commence an evaluation of the length and continuity of the vein sets and a determination of whether the altered rock between the veins contains economically viable grades of gold and silver amenable to bulk mining. The Humboldt Range project will complement PolarX's Alaska Range Project, providing a longer field season for the Company via access to another high-quality project in a Tier-1 jurisdiction which can be serviced by the company's existing consultants. Very limited previous exploration data is available for the Humboldt Range claims. The following information has been compiled from internal company reports written by geologists from Victoria Gold Corp, who briefly evaluated the area between July 2005 and July 2009. During this period, Victoria Gold Corp. collected rock-chip samples from outcropping quartz veins and sampled mine dumps near many of the abandoned underground workings and adits. A total of 227 samples were collected on the claims being reviewed by PolarX. PolarX has copies of the assay certificates for these samples and has compiled a database of results. Representatives of PolarX visited the claims in late November 2020 and validated several sample locations. Samples were taken at these locations, and PolarX awaits confirmational assay results. Key findings of the previous exploration, including review of sporadic records from historical mining are as follows: The project contains volcanic lava flows of the Koipato Formation, with limestones structurally emplaced both above and below the volcanic rocks. Epithermal veins in volcanic rocks occur in very wide structural corridors varying from 30m to 275m width. The veins in these wide structural corridors are oriented N60E (200-275m wide structural system), N45W (140-200m), N-S (100-130m), and N25-30E (60-100m). Within the structural corridors there are literally hundreds of quartz-sulfide veins that carry visible gold and which range in width from 5cm to over 1.5 meters. Host rocks are strongly silicified over widths up to 5 times the thickness of the veins or more. Previous studies have indicated that the strongly altered host rock can also carry good gold values up to 2m away from 20-30cm wide veins. No exploration for limestone-hosted Carlin-style gold mineralisation has been undertaken to date on the claims. In addition to evaluating individual high-grade veins as possible mining targets, PolarX intends to evaluate these structural corridors to determine if modern-scale bulk mineable widths and grades are present. This will include geological mapping, rock chip and channel sampling and ground geophysics (IP to detect resistivity highs associated with the silicification). PolarX has commenced staking 100 additional lode claims in the Fourth of July area to consolidate the land holdings. Tillkännagivande • Jul 17
PolarX Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million. PolarX Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 26,315,789
Price\Range: AUD 0.038
Discount Per Security: AUD 0.00057 Tillkännagivande • Jun 18
PolarX Limited announced that it expects to receive AUD 3.76135 million in funding PolarX Limited (ASX:PXX) announced a brokered private placement of 98,982,894 common shares at an issue price of AUD 0.038 for the gross proceeds of AUD 3,761,349 on June 18, 2020. The transaction will include participation from sophisticated and professional investors. The transaction is expected to close on June 23, 2020. 