PolarX Limited announced that preparations are underway for an initial 3,000m reverse circulation percussion (RC) drilling program at its Humboldt
Range 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 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 gold and silver mineralisation. Infill soil samples and detailed channel samples representing a cumulative length of 467.8m were
submitted 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.