PolarX (ASX:PXX) has delivered standout copper assays from Caribou Dome in Alaska, with the stock seeing strong volume in morning trade.
The headline result was 24.8m at 9.8% copper and 14.5g/t silver from just 2.4m, including 4.9m at 13.6% copper and 4.4m at 14.1% copper.
A second hole returned 22.6m at 8.1% copper and 13.5g/t silver from 3.7m, including 5.8m at 12.4% copper.
Those are hard numbers for the market to ignore.
The old grades may have been too low
Two of the latest holes were drilled as twins beside historical holes already incorporated into the current resource.
PolarX says modern assaying has returned materially higher grades and broader widths than the old drilling, raising the possibility that historical data has understated the deposit.
The company now plans to systematically re-assay available historical pulps, with the potential to lift the average grade in a future Mineral Resource update.
That could be just as important as the new drilling.
Figure 1: A detailed cross section (313o) showing near surface mineralisation for CD26-004 to CD26-007 as well as historic drilling intercepts (DH40 and DH41).
Caribou Dome just got deeper
The program also extended known copper mineralisation roughly 170m below the current resource.
Hole CD26-003 returned 0.3m at 3.5% copper and 4g/t silver from 453.7m, pushing the known system to around 500m below surface.
The interval is narrow, the implication is not.
Caribou Dome remains open at depth.
A big resource base already exists
Caribou Dome currently hosts a JORC Resource containing 224,375t of copper at an average grade of 3.1%.
Nearby Zackly adds 45,000t of contained copper and 213,000oz of gold to the wider Alaska Range Project.
The latest drilling is now testing whether Caribou Dome can grow both in tonnes and grade.
Northern Star is footing the bill
The 2026 campaign is fully funded by Northern Star Resources under the Alaska Range joint venture.
~1,700m of drilling remains this season, with the campaign scheduled to finish by the end of September.
That gives PolarX more shots on goal without carrying the full exploration bill.
What’s next
PolarX still has assays pending from recently reported visual sulphide intersections, more drilling to complete and a historical re-assay program to start.
Today’s market reaction came from the grade. The bigger rerating case will depend on whether PolarX can turn those grades into a larger, higher-grade Caribou Dome resource.
