PNX Metals (ASX:PNX)
The $11 million capped PNX Metals (ASX: PNX) continues to meet its milestones at its Hayes Creek Project in the Pine Creek region of the Northern Territory.
News flow has been rife lately with updated Minerals Resources for the project’s Iron Blow and Mt Bonnie deposits as the company accelerates its push towards constructing a fully operational zinc-gold-silver mine.
With $2.25 million in the bank at the end of the last quarter, PNX is now finalising its fully funded Pre-Feasibility Study (PFS), designed to expand on the successful Scoping Study, which determined that mining and processing ore from the mine could generate strong financial returns.
Completion of the PFS — due in late June — will provide more clarity around the Project’s potential, following the recent Resources upgrades at the Project’s Mt Bonnie and Iron Blow deposits.
PNX would be encouraged by the numbers coming from the Project, showing over 1.1 million ounces gold equivalent, or 445,000 tonnes zinc equivalent.
This results in a valuation of less than $1/ounce of contained gold equivalent in resources…
The Project hosts total Mineral Resources of 4.1 million tonnes containing 177,200 tonnes of zinc, 238,000 ounces of gold, 16.2 million ounces of silver, 37,000 tonnes of lead, and 10,050 tonnes of copper, with 84.7% of the resources sitting in the Indicated category and 15.3% classified as Inferred.
The information on this page should not be the only trigger for your investment decision. Click on the links below for a more in-depth and informed examination of the company. We strongly recommend you seek professional financial advice whenever making financial investment decisions.
Whilst PNX is busy at Hayes Creek, it is also working hard at its Moline Project to extend existing mineralisation, commence mineral resource estimation and attempt to pinpoint new regional gold and base metals drill targets.
With all this going on, PNX is looking to quickly advance towards production.
PFS Weeks Away as PNX Upgrades Minerals Resources
May 11, 2017
Multi-metals small-cap developer, PNX Metals (ASX: PNX), is accelerating its push towards constructing a fully operational zinc-gold-silver mine. The $11 million capped PNX continues to tick its due diligence boxes at its Hayes Creek Project in the Pine Creek region of the Northern Territory and has seen a rush of news flow, including updated Minerals Resources for the project’s Iron Blow and Mt Bonnie deposits.
Related PNX Metals (ASX:PNX) articles
Is this Undervalued ASX Zinc Stock Ripe for a Re-rate?
Mar 9, 2017
Zinc, gold and silver have been three of the best performing metals over the past year, with many stocks exposed to these commodities rerating strongly over the last 12 months.
The Next Big Thing in Nickel? ASX Newcomer Partners Up with World’s Biggest Stainless Steelmaker
Jan 15, 2019
Diversified ASX Junior Next Door to Fortescue May Have a Major Australian Gold Asset
Jan 14, 2019