The Company’s main focus is the Hayes Creek Zinc, Gold and Silver project in the Pine Creek region of the Northern Territory.
The Company’s exploration focus shifted in 2014 from South Australia to the Pine Creek region of the Northern Territory following the acquisition of 14 Mineral Leases containing the Iron Blow and Mt Bonnie deposits, and entry into a farm-in agreement with Newmarket Gold NT Holdings Pty Ltd (previously named Crocodile Gold Australia Pty Ltd). The Company is farming-in to up to 90% ownership of 19 exploration licenses and 4 mineral leases over a total area of approximately 1700km2.
In South Australia, PNX holds 16 exploration licenses and three mining leases covering an area of approximately 3,500 km2. The Exploration Licenses are in the historically significant and highly prospective Burra, Kapunda and Yorke Peninsula regions of South Australia. The mining leases are located further north in the region of Leigh Creek.
A full listing of the Company’s 100% owned tenements, and the tenements on which the Company is earning up to 90%, is contained in the Company’s most recent Quarterly Activities report.