Mining News: Mars porphyry potential discovered

PolarX Ltd. Oct. 25 reported that an induced polarization geophysical survey has confirmed the potential of a buried porphyry copper-gold system at the Mars prospect on its Stellar property in Southcentral Alaska. Broadly spaced soil samples have outlined a 2,000- by 1,500-meter area of gold and copper mineralization at Mars and rock chip samples collected from this same area have returned assays of up to 7.4 percent copper and 1.8 grams per metric ton gold. Data from the IP survey carried out at Mars in August show a buried chargeability anomaly located 100 to 150 meters below the copper-gold mineralization on surface, consistent with a buried porphyry system. The chargeability anomaly extends to the edge of the 800-meter-wide area surveyed this year. PolarX said further IP surveying will be undertaken to map out the full extent of the IP anomaly. Mars lies about 6,000 meters northwest of the Zackly skarn. PolarX said the 2017 drill program to update a historical gold-copper resource at Zackly identified evidence for a buried porphyry system. The company said geological evidence indicates a structural corridor extending between Mars and Zackly with the potential to host multiple buried porphyry copper-gold systems. This corridor is now a priority target for future exploration at Stellar. Initial assay results from the 2017 drill program at Zackly are expected in November.

–SHANE LASLEY