High-Grade gold in surface rock chips at Glencoe

The Company is pleased to advise that it has received assay results from rock chip samples taken during geological mapping of the Glencoe gold deposit (“Glencoe”) and the surrounding area. Glencoe is located on a granted Mineral Lease approximately 170 km south of Darwin and 3km north of PNX’s Fountain Head Gold Project in the Pine Creek region of the Northern Territory.

Numerous high-grade gold values in excess of 1.0g/t were returned from the newly defined ‘Eastern Zone’, including 6.02g/t Au (TGU5467), 4.04g/t Au (TGU5459) and 3.05g/t Au (TGU5486). These samples were collected from outcropping quartz-sulphide veined and altered mafic rocks that are largely obscured by a veneer of transported soil cover.

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2021-09-23T08:55:48+10:30