Research Report – Hayes Creek Project
Angelo Gaudio2017-06-03T00:18:55+09:30Independent research report and Hayes Creek project valuation done by Kamara Group
Independent research report and Hayes Creek project valuation done by Kamara Group
PNX has intersected high-grade gold mineralisation in its first two holes drilled at the Moline Exploration Project (MLN1059), located less than 1.5km off the Kakadu Highway, and approximately 65km to the east of the Hayes Creek gold-silver-zinc project in the NT. MORC002 intersected 7m @ 11.9g/t Au from 115m down hole, including 3m @ 23.7g/t from 116m
Excellent zinc, gold and silver assay results from the first diamond drill hole (IBDH039) from the 32 hole, 3500 metre infill and extensional drill program at Hayes Creek - Iron Blow: 16m @ 18.4% ZnEq (10.70% Zn, 4.80g/t Au, 256g/t Ag, 2.42% Pb, 0.37% Cu) from 138m, including; 11m @ 25.9% ZnEq (15.78% Zn, 6.32g/t Au, 343g/t Ag, 3.42% Pb, 0.55% Cu) from 139m
PNX is pleased to advise that the sale of the Company’s wholly owned subsidiary Leigh Creek Copper Mine Pty Ltd (‘LCCM’) to Resilience Mining Australia Limited was completed on 21 November 2016
PNX has commenced a 16 hole RC drill program at Moline, located less than 1.5km off the Kakadu Highway and approximately 65km to the east of the Hayes Creek Project. The drill program will test new extensions to three known gold mineralised structures, and evaluate the base metals potential of the area
New near-surface southerly extension to mineralisation discovered at Mt Bonnie, extending approximately 100 metres beyond the limit of previous drilling and open to the south and at depth. Additional drilling now planned to increase geological confidence in this area, with an updated mineral resource estimate due by end of 2016
Assay results from a further 9 of 27 reverse circulation (RC) and diamond holes at Mt Bonnie, including 29m @ 1.02g/t Au, 187g/t Ag, 5.26% Zn, 1.44% Pb, 0.29% Cu from 75m in MBRC048, including 8m @ 1.25g/t Au, 388g/t Ag, 10.01% Zn, 2.73% Pb, 0.51% Cu from 87m) 7m @ 3.08g/t Au, 446g/t Ag, 10.93% Zn, 3.19% Pb, 0.50% Cu from 72m in MBRC063
PNX has commenced drilling activities at Barossa (Burnside Project, less than 20km to the north-west of the Hayes Creek gold-silver-zinc project) where two initial diamond drill holes for a total of 235 metres are proposed to test the highest-priority electromagnetic responses among nine VTEM anomalies at the prospect
PNX has received assays from 4 of 27 RC and diamond holes drilled as part of an infill and extensional drill program at Mt Bonnie. Near-surface sulphide mineralisation has been intercepted directly below the historical open pit as predicted by the geological model and overall, metal grades and widths of mineralisation are excellent
PNX has successfully completed 27 holes for 1,826 metres of infill and extensional reverse circulation (RC) drilling at Mt Bonnie. Diamond drilling to commence at Iron Blow and also at 2 exploration targets, and results of assays results Langleys drill program
PNX has started a 7,500 metre infill and extensional RC and diamond drilling program on its Hayes Creek gold-silver-zinc project
7 hole RC drilling program has commenced at the Langleys prospect in the NT targeting extensions to known high-grade gold mineralisation
$1.5 million raised via a share placement at 1.9 cents to institutional and sophisticated investors. Funds raised will primarily be used to complete the PFS on the Company’s flagship Hayes Creek gold-silver-zinc project, as well as for regional exploration and drill testing gold and base metals targets in the Pine Creek region
PNX has completed the acquisition of three Mineral Leases highly prospective for gold adjacent to its flagship Hayes Creek gold-silver-zinc project in the NT
RC drilling program targeting areas of known high-grade gold mineralisation at Langleys within the Burnside Project in the NT is scheduled to commence in July
PNX has been awarded $85k of NT government grants to co-fund diamond drilling of two prospects within its Burnside and Chessman projects in the NT, Barossa and Tractor Corner
Technical components of a PFS on the Hayes Creek Zinc, Gold and Silver Project are now fully-funded after securing $1.6 million from the forward sale of silver under 2 agreements
PNX announces the results of a Scoping Study for the Hayes Creek Zn-Ag-Au project, which demonstrates the Project as financially robust with an NPV of $109.4 million, IRR of 58%, and a payback period of less than 2 years
PNX Managing Director James Fox discusses the Hayes Creek Project and Company Outlook
PNX is pleased to announce the signing of an Agreement with Newmarket Gold to acquire 3 Mineral Leases adjacent to the Hayes Creek Project in the NT
Refer to PNX’s company page at www.asx.com.au for Announcements prior to 1 July 2014.