Friday, January 22, 2021

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PolarX: Acquires Humboldt Range Project in Nevada

  • PolarX (PXX) has secured an exclusive option to acquire the rights to the Humboldt Range Gold-Silver Project in Nevada
  • The Humboldt Range Project lies between two active precious metal mining operations and contains numerous small-scale historical mine workings
  • Despite very little exploration reported, up to 3384g/t gold and 2837g/t silver have intersected at the precious metals play
  • PolarX has already paid US$35,000 (around A$45,383) to secure the option and can exercise it by paying a further US$175,000 (around A$226,918) in stages
  • Further, five million PolarX shares will issued to the vendor, along with a 2.5 per cent net smelter royalty (NSR) when production gets underway
  • PolarX is down 4.65 per cent on the market and shares are trading at 4.1 cents

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