The Burnside, Moline and Chessman regional exploration projects cover an area of approximately 1,700 square kilometres in the Pine Creek region of the Northern Territory. PNX has earned and now holds a 90% interest in 19 exploration licenses in the area under a farm-in agreement with Newmarket Gold. PNX also holds 4 exploration tenements and 24 mineral leases outright in the Fountain Head / Burnside project area, just a few kilometres to the west of the Hayes Creek Project.
The Pine Creek region is a highly prospective geological region with recorded gold production of over 3.2 million ounces and known resources of approximately 9 million ounces. The Burnside, Moline and Chessman projects contain numerous historically mined deposits, unmined mineralisation and potential to discover new mineralisation. The Company has developed a pipeline of prospects at various stages of exploration, ranging from grassroots targets with no historical exploration to brownfields prospects along mineralised structures beneath historical open pits. These prospects are being field assessed, ranked and progressively explored to provide development opportunities beyond and potentially to be integrated with the Fountain Head & Hayes Creek Projects.