#United States #Anchorage #Copper Project #PolarX #Caribou Dome

PolarX Reports Exceptional Assays at Caribou Dome Project

In an exciting development from the Alaskan mining sector, PolarX Limited has revealed outstanding results from its recent diamond drilling program at the Caribou Dome Copper Project. This announcement, made on June 9, 2026, highlights not only the success of their previous drilling campaign but also the commencement of an ambitious new phase of exploration.

Latest Assay Results

The company reported final assay results from its 2025 drilling program, revealing exceptionally high grades of copper and silver. A notable intersection was found in drill hole CD25-008, which yielded 3.0 meters grading 11.23% copper and 12.63 grams per ton of silver, beginning at a depth of 63.3 meters. This result contributes significantly to the understanding of the mineral-rich landscape of Caribou Dome.

Totaling 2,133 meters across nine holes, the 2025 program was characterized by remarkable findings, with eight holes intersecting extremely high-grade copper deposits. These results not only confirm the presence of further mineralization at greater depths but also enhance the geological and structural understanding of the area.

Commencement of 2026 Drilling Program

Following the success of previous drilling, PolarX is entering a new drilling phase, fully funded through its joint venture with Northern Star Resources. The 2026 drilling program is set to encompass over 10,000 meters of drilling, aimed at exploring several new targets which were previously undiscovered. The drilling campaign is scheduled to run until the end of October, with the aim to significantly expand mineral resources.

Company Profile and Future Aspirations

PolarX Limited is recognized as an emerging Australian mineral explorer and developer, dedicated to high-grade copper, gold, and silver projects located in Alaska and Nevada. The company’s flagship Alaska Range development holds a total JORC resource amounting to 11.2 million tonnes, comprising 269,375 tonnes of copper, 213,000 ounces of gold, and 3.131 million ounces of silver.

A recent scoping study conducted in 2024, which utilized copper pricing at US$8,500 per tonne, gold at US$1,900 per ounce, and silver at US$26 per ounce, revealed an impressively robust pre-tax net present value (NPV) of A$625 million, with capital expenditures estimated at A$223 million. Furthermore, the study indicated a remarkable internal rate of return (IRR) of 74% and a payback period of just 1.6 years, showcasing the project's strong financial viability.

Aside from its endeavors in Alaska, PolarX is also focusing efforts on its Humbolt Range project in Nevada. This region is equally promising, with confirmed high-grade deposits of gold, silver, lead, and zinc.

In conclusion, PolarX Limited is at the forefront of significant advancements in mineral exploration in Alaska and Nevada, with its Caribou Dome Copper Project continuing to underscore the company’s potential for future growth and success in the mining industry.