Updated coverage on PolarX Limited (ASX: PXX)

November 23, 2021

We have updated our coverage of PolarX (ASX: PXX), highlighting the prospectivity of the company’s two USA exploration project areas – Humboldt Range in Nevada, and the Alaska Range Project in Alaska. The company is still very much active on the Alaska Range Project (for which a Scoping Study on a combined Caribou Dome/Zackly operation is underway), and which includes the 116 km2 Caribou Dome and 150 km2 Stellar claim blocks, located south of Fairbanks. However, the addition of the 27.4 km2 Humboldt Range Project will allow the company to undertake field activities through most of the year, rather than just the relatively brief ~six month field season in Alaska.

Humboldt Range is located within the Basin and Range Province of Central-West Nevada, near to the producing Florida Canyon (~50 kozpa Au, Argonaut Gold Inc) and Rochester (~3.2 Mozpa Ag, 30 kozpa Au, Couer Mining) mines, both epithermal deposits.  Rochester, which is relatively silver-rich, has an overall endowment (current Resources and past production) of ~400 Moz of silver and 3 Moz of gold, whereas Florida Canyon is gold-rich, with an overall endowment of ~5 Moz of gold. Activities at Humboldt Range are early-stage, with the company recently completing soil and rock chip geochemical sampling, which have returned large coherent anomalies, coincident with areas of strong epithermal veining and alteration.

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