News

New Priority Zinc Targets Identified at Moline, NT

2017-10-05T13:37:38+00:00

A number of new, high priority zinc targets have been identified from within PNX's Moline Project, approximately 65km to the east of the Hayes Creek zinc-gold-silver Project: Waterhole - significant zinc-lead geochemical anomaly defined over a 1,300m x 400m area Mango - strong zinc-lead geochemical anomaly measuring 800m x 100m near a historic base metals mine Swan - zinc-lead anomaly approximately 700m in length immediately to the north of a drill intercept of 1m @ 4.66% Zn, 11.37 g/t Au, 95.5 g/t Ag and 0.90% Pb (MORC026 from 45m) Geophysical surveys to commence in order to refine targets ahead of drilling.  

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High Grade Gold with Zinc-Silver Drilled at Moline Project

2017-09-12T12:26:34+00:00

High-grade gold returned from drilling at the Moline Project Analysis highlights extensions to mineralisation over three main zones; the School prospect, beneath the historic Moline Pit, and the newly identified Swan prospect 3m @ 7.6 g/t Au from 138m in MORC015 below 7m @ 11.9 g/t Au in MORC002 shows high-grade gold mineralisation continuing at depth at the School prospect Newly discovered mineralisation at the Swan prospect - 1m @ 11.37 g/t Au, 128 g/t Ag, 4.66% Zn from 45m (MORC0026) demonstrates potential for mineralisation complementary to Hayes Creek

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PNX Now Well-Funded to Advance NT Zinc Projects

2017-09-07T12:18:23+00:00

PNX has finalised the first of a significant series of transactions comprising a Placement, Share Purchase Plan and Debt for Equity Swap which will leave PNX debt-free and well-funded for a significant upcoming exploration program and to advance the Hayes Creek Project in the NT. $1.9 million Placement completed which was significantly oversubscribed $0.6 million Share Purchase Plan to be offered to eligible shareholders Total new capital of up to $2.5 million is in addition to the $0.8 million recently secured from the forward sale of silver from the Hayes Creek Project Subject to necessary approvals, existing PNX debt of

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Drilling Recommenced at Moline Gold and Base Metals Targets

2017-08-08T12:48:11+00:00

A 15 hole RC drill program has commenced at three prospects in the Moline Project area, approximately 65km to the east of the Hayes Creek zinc and precious metals project in the NT.   All three prospects returned excellent intersections of gold and base metals mineralisation in drilling done in 2016

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Hayes Creek Confirmed to be a Leading Zinc and Precious Metals Project

2017-08-08T12:46:05+00:00

PNX is pleased to announce the completion of a PFS for its Hayes Creek zinc-gold-silver Project, which confirms the Project to be a high value, relatively low risk and technically strong development opportunity for the Company.  Given these outcomes, the PNX Board has resolved to proceed immediately with a DFS.  PFS highlights: Robust zinc and precious metals Project forecast to generate net smelter revenues of $628 million over a 6.5 year mine life $266 million pre-tax net cashflow estimated over Life of Mine (LoM) at an average of $41 million per year  Pre-tax NPV10% of $133 million, IRR of 73% and

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New NT Gold and Base Metals Targets

2017-08-08T12:07:31+00:00

PNX has commenced exploration field work at the Burnside and Moline project areas in the Pine Creek region of the Northern Territory focusing on a number of exciting gold and base metal targets

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Successful Metallurgical Optimisation at Hayes Creek

2017-08-08T12:01:45+00:00

PFS met optimisation completed with an improvement in overall recoveries from initial test-work, de-risking metallurgical aspects of the project.  Zinc concentrate and Precious Metals concentrate readily saleable as high-value products

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Refer to PNX’s company page at www.asx.com.au for Announcements prior to 1 July 2014.