In December 2022, a 10% shareholding of PolarX was acquired by Northern Star Resources (10th largest gold producer globally).
In Alaska, PolarX's projects include near-surface Copper and Copper equivalent grades of 4% and 5.5% respectively which compare favourably with some of the world’s highest grade operating mines. The overall JORC resource grade at Caribou Dome is 3.1% Cu and the JORC resource grade at Zackly is 1.2% Copper and 2.0g/t Gold, with 14g/t Silver.
These high grades could allow an initially small-scale yet highly profitable development in Alaska. PolarX completed a Scoping Study in September 2022 on the potential to mine its Caribou Dome and Zackly high grade projects with favourable results.
Further exploration and development programs in Alaska are designed to initially bring the 100% owned Zackly Deposit and 80% controlled Caribou-Dome Deposit into early production.
Larger porphyry projects also occur within our Alaska Range tenements, including the Mars project porphyry which was drilled in 2019.
Our Nevada Humboldt Range projects focus on gold and silver and lie between the 5Moz Florida Canyon Gold mine, and the 400Moz Rochester Silver mine (which also contains 3.5Moz gold), and 4+MOz Spring Valley development project, in the same geology.
The Humboldt Range district has the potential to develop into the next large scale Carlin trend style open pit mining district in Nevada.