The Fountain Head gold mineralisation is also being finalised with studies underway to inform the Hayes Creek DFS including those required for government and environmental approvals.
PNX Metals Ltd (ASX:PNX) has started diamond drilling at the Iron Blow volcanogenic massive sulphide (VMS) deposit within its Hayes Creek Zinc-Gold-Silver Project in the Pine Creek region of the Northern Territory.
Drilling is designed to target the eastern and western massive sulphide zones with two diamond drill holes planned for about 500 metres.
Fountain Head gold prospect
Modelling of the newly delineated gold mineralisation is also being finalised.
The value of mining the gold mineralisation versus using the historic open pits as the (in-pit) tails location for the Hayes Creek project is being assessed, as well as whether the two strategies might be combined.
CSA Global is finalising a structural model that will help understand controls around the gold mineralisation at Fountain Head, Tally Ho and Banner for future drill targeting and mineral resource estimation.
Hayes Creek Project -PNX Metals Website
SOURCE: PROACTIVEINVESTORS AUSTRALIA
DATE: 20 MARCH 2019