PolarX reports copper drilling results, starts new Alaska program

PolarX Limited (ASX: PXX; OTCQB: PXXXF) announced final assay results from its 2025 diamond drilling program at the Caribou Dome Copper Project in Alaska and the commencement of a new 10,000-meter drilling program funded through its joint venture with Northern Star Resources.

The company reported that hole CD25-008 returned assays of 3.0 meters at 11.23% copper and 12.63 grams per ton silver from 63.3 meters depth. The 2025 drilling program consisted of nine holes totaling 2,133 meters, with eight holes intersecting copper mineralization.

PolarX stated the 2026 diamond drill program will test extension targets and is planned to continue through October. The drilling is entirely funded through the Northern Star-PolarX Alaska Range joint venture.

The company operates copper, gold and silver projects in Alaska and Nevada. Its Alaska Range Mine Development contains a JORC resource of 11.2 million tons with 269,375 tons of copper, 213,000 ounces of gold and 3.13 million ounces of silver. A 2024 scoping study showed a pre-tax net present value of A$625 million, capital expenditure of A$223 million, and an internal rate of return of 74%.

The information is based on a company press release statement.

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