PolarX Reports More Hyper Grade Copper Assays as Northern Star Joint Venture Drilling commences at its Caribou Dome Copper Project in Alaska

Rhea-AI Summary

PolarX (OTCQB:PXXXF) reported final 2025 diamond drilling assays from its hyper-grade Caribou Dome Copper Project in Alaska and confirmed 2026 joint venture drilling has begun.

Key results include 3.0m @ 11.23% Cu and 12.63 g/t Ag, plus a 10,000m fully funded Alaska Range JV drill program and a 11.2Mt JORC resource supporting a 2024 Scoping Study pre-tax NPV of A$625m and 74% IRR.

Positive

• 2025 Caribou Dome hole CD25-008 returned 3.0m @ 11.23% Cu and 12.63 g/t Ag
• Eight of nine 2025 drill holes intersected extremely high-grade copper at Caribou Dome
• 2026 Alaska Range JV drill program plans more than 10,000m of drilling through October
• 2026 diamond drill program is entirely funded via the Northern Star–PolarX Alaska Range joint venture
• Alaska Range JORC resource totals 11.2Mt; 269,375t Cu, 213,000oz Au, 3,131,000oz Ag
• 2024 Spring Scoping Study shows A$625m pre-tax NPV, A$223m capex, 74% IRR, 1.6-year payback

Negative

• None.

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In the Jun 9 session, PXXXF gained 3.80%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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ANCHORAGE, Alaska, June 9, 2026 /PRNewswire/ -- PolarX Limited (ASX: PXX; OTCQB: PXXXF) announced the final assays from its 2025 diamond drilling program at its hyper-grade Caribou Dome Copper Project, which is a part of its joint venture with Northern Star Resources in Alaska, have continued to return exceptional assays. The company concurrently announced that the 10,000m Alaska Range Joint Venture drilling program has also commenced.

With respect to the final assays from the 2025 diamond drilling program at Caribou Dome, exceptional assays from CD25-008 were 3.0m @ 11.23% Cu and 12.63 g/t Ag from 63.3 m. Additional, previously announced assays from the nine holes drilled in 2025 can be found here along with other details: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03098121-6A1328666&v=undefined.

Nine holes were drilled in the 2025 program, totaling 2,133m, eight of which intersected extremely high-grade copper. These assays extend the known mineralization at depth and improved structural and geological knowledge.

The start of the 2026 diamond drill program, entirely funded via the Northern Star-PolarX Alaska Range joint venture, will test several new extension targets with more than 10,000m of drilling planned from now through the end of October.

PolarX Limited (https://www.polarx.com.au) is an advanced Australian mineral explorer and developer with rapidly growing high-grade Copper, Gold and Silver projects in Alaska and Nevada. The company's Alaska Range Mine Development has a total JORC resource of 11.2Mt; 269,375t Cu, 213,000oz Au and 3.131,000 oz Ag. The 2024 Spring Scoping Study (in which US$8,500/t was assumed as copper price; US$1,900/oz for gold and US$26/oz for silver) showed A$625m pre-tax NPV, A$223m Capex, 74% IRR, 1.6-year payback. In Nevada, the company is focusing its efforts on the Humbolt Range, which also boasts high grades of gold, silver, lead and zinc.

View original content:https://www.prnewswire.com/news-releases/polarx-reports-more-hyper-grade-copper-assays-as-northern-star-joint-venture-drilling-commences-at-its-caribou-dome-copper-project-in-alaska-302795408.html

SOURCE PolarX Limited

FAQ

What copper assay results did PolarX (PXXXF) report from the 2025 Caribou Dome drilling?

PolarX reported a standout intercept of 3.0m @ 11.23% copper and 12.63 g/t silver from 63.3m in hole CD25-008. According to PolarX, eight of nine 2025 holes intersected extremely high-grade copper, extending known mineralization at depth and improving geological understanding.

How many drill holes were completed in PolarX’s 2025 Caribou Dome program for PXXXF?

PolarX completed nine diamond drill holes totaling 2,133m in its 2025 Caribou Dome program. According to PolarX, eight of these holes intersected extremely high-grade copper, helping extend mineralization at depth and refine structural and geological models for future targeting.

What is the scope of the 2026 Alaska Range joint venture drilling for PolarX (PXXXF)?

The 2026 Alaska Range joint venture drilling program plans more than 10,000m of diamond drilling through the end of October. According to PolarX, the JV-funded campaign will test several new extension targets across the Alaska Range projects, including Caribou Dome copper mineralization.

What JORC resource supports PolarX’s Alaska Range Mine Development for PXXXF?

PolarX’s Alaska Range Mine Development is backed by a 11.2Mt JORC resource containing 269,375t copper, 213,000oz gold and 3,131,000oz silver. According to PolarX, these high-grade copper, gold and silver inventories underpin ongoing exploration, development planning and economic evaluations in Alaska.

What did the 2024 Spring Scoping Study indicate for PolarX’s Alaska Range project (PXXXF)?

The 2024 Spring Scoping Study indicated a pre-tax NPV of A$625m with A$223m capex, 74% IRR and 1.6-year payback. According to PolarX, the study assumed commodity prices of US$8,500/t copper, US$1,900/oz gold and US$26/oz silver.

Where else is PolarX (PXXXF) exploring besides the Caribou Dome copper project in Alaska?

Besides Alaska’s Caribou Dome and Alaska Range projects, PolarX is advancing exploration at the Humbolt Range in Nevada. According to PolarX, the Nevada assets host high grades of gold, silver, lead and zinc, complementing its copper-focused portfolio in North America.