PNX Metals Limited (ASX: PNX), through further fieldwork at its C6 gold prospect, has identified new high-grade gold zones at surface, including extending a gossan where up to 186.6g/t Au was reported previously.
The company has received approval under its exploration mine management plan for eight trenches/costeans of up to 100m in length and approximately 300 Air Core drill holes.
The trenching will be used to better evaluate the extent and geometry of gold mineralization and to assist with targeting the subsequent drill-testing.
The C6 prospect is part of PNX’s Burnside Northern Leases with the new high-grade zone located on its wholly-owned EL31893, in the Pine Creek region of the NT, approximately 100km south of Darwin and 25km north of Fountain Head.
The Northern Leases host multiple kilometre-scale gold targets with the potential for economically significant gold mineralization along the same structural corridor as Cosmo Howley (owned by Agnico Eagle) and numerous other gold deposits.
PNX Managing director James Fox said: “New fieldwork at the high-grade C6 gold prospect has identified numerous areas for follow-up. Surface outcrop is limited, and further work will now focus on trenching/ costeaning and air-core drilling. Importantly, new gossan reporting up to 16.96g/t Au and 21.80g/t Au has been discovered approximately 370m south of the main high-grade zone, that has now been extended to 55m at surface and where up to 189.5g/t Au has been sampled, suggesting a much greater extent to the high-grade mineralization than previously anticipated. There has been no previous drilling at either gossan.”
To find out more, please visit www.pnxmetals.com.au
