Alix Resources, a junior exploration firm, has declared that the exploration for this year has been completed at the Money Rock or West Pogo gold project, which is situated 80 km towards the southeastern part of Fairbanks in Alaska.
The company drilled two NQ core holes at the project’s West Pogo part and two at Money Rock. The four inclined holes drilled at the project examined the subsurface expression of a soil gold anomaly and surface rock expanding for more than 1,000 m across the two properties. Mineralized sulfide and hydrothermal alteration zones were encountered in all the drill holes. The location of the project is only 3.5 km towards the western part of the Pogo Mine, which is operated by Sumitomo Metals, and produces approximately 400,000 oz gold per annum.
Holes WP-12-01 and WP-12-02 drilled at the West Pogo were specifically collared at the claims’ northern border and 832 m towards the east-northeast direction, respectively. Metagranite along with iron-stained and sericite-altered veining and brecciation zones having pyrite and arsenopyrite was encountered in both holes drilled at the project’s West Pogo portion.
The initial hole drilled at Money Rock was particularly collared 732 m towards the north-northeast part of the hole WP-12-02 and drilled towards the southeastern portion. Hole MR-12-01 specifically returned paragneiss from the surface to 59 m, metagranite in alternating intervals from 59 to 268 m, paragneiss from 268 to 308 m, and also paragneiss towards the hole end from 328 to 401 m.
The company drilled the hole MR-12-02 from the same collar and encountered mixed metagranite and paragneiss from surface to 46 m, metagranite from 46 to 110 m, paragneiss from 110 to 137 m, and metagranite towards the hole end from 137 to 463 m. Continuous mineralization and alteration has been discovered in all four holes. The company’s exploration comprised the compilation of 119 rock, 387 soil and 31 silt samples over the project region.