PXX 5.10% 9.3¢ polarx limited

@Per4manz Caribou is stranded! It will provide some nice feed to...

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    @Per4manz Caribou is stranded! It will provide some nice feed to a plant one day if there is copper at Saturn and/or Mars which are multi-BILLION tonne targets. We just have to wait 6 months to see if there's Cu & Au in the porphyry.
    @FiendishRedbeard correct - something like $400pm all up cost for heli-supported drilling at Mars. Saturn & Zackly have 4WD access so will be much cheaper. The company is aware of the need for news flow and while not the main game there should be news on metallurgy for Zackly and IP over Saturn in the next month or two with drilling underway before the end of May depending on weather.
    But don't lose sight of the big picture. Saturn and Mars are big targets and a 10Mt resource at Zackly skarn is a sure thing IMO based on Holes 20 & 24 in particular. I posted some numbers on another thread with which the company agrees. 500m strike x 100m down dip x 40m depth x 3.5SG = 7Mt at say 0.6% CU & 3g/t Au (ave. of holes 20 & 24). Add the existing JORC of 3.4Mt at 1.2% Cu & 2g/t Au and there's 10 Mt for a 1Mtpa plant producing 75koz Au plus Cu credits. A bit of cashflow to help fund a much bigger copper operation.
    PXX will get taken out well before that happened if big Cu/Au porphyry deposits are discovered but it's a nice scenario!
    A little dilution coming via a CR to fund drilling ($2m?) but IF there's a discovery at Mars and/or Saturn then upside is nx where "n" is a double digit number!
    Last edited by HarryKane: 26/03/19
 
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