World news – PolarX offers second exploration front in Nevada

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PolarX is expected to head south to Nevada during the extreme winter months in Alaska

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The junior has signed an option on the Humboldt Range prospectus, which includes two groups of Lode claims, « none of which have been thoroughly investigated using modern techniques ».

According to PolarX, the Humboldt Range is located between two major active precious metals miners, namely Florida Canyon and Rochester.

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« Gold occurs in swarms of 5cm to 1.5m wide epithermal quartz veins and their alteration halos, » said the researcher.

« Structural corridors between 30m and 275m wide contain numerous (in some cases hundreds ) mineralized quartz veins (with) these zones that represent potential mass mining targets. « 

PolarX has paid $ 35,000 for the option, which it can exercise by paying an additional $ 175,000 (incrementally) and five million shares in shares the seller.

The option over ground in Nevada comes at the beginning of PolarX’s seventh year of exploration in Alaska. The company would like to sketch out independent development scenarios as well as award porphyry copper-gold mandates to majors.

PolarX is expected to have to conduct a fundraising campaign of AUD 2.2 million at the end of September.

The shares of PolarX fell 9% to c 3.9 in morning trading, capitalizing the company at $ 42 million.

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PolarX offers second exploration front in Nevada

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PolarX offers second exploration front in Nevada

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Related title :
PolarX puts paw on high-grade Nevada gold project
PolarX options second exploration front in Nevada
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Ref: https://www.miningnews.net

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