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PolarX Says Alaska Project Drilling Copper Grades Point to 'Significant' Resource Growth; Shares Soar 14%

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PolarX (ASX:PXX) said copper grades from a diamond drilling program at its Caribou Dome project, part of the Alaska Range joint venture with Northern Star Resources (ASX:NST), signal "significant" resource growth, according to a Wednesday Australian bourse filing.

It encountered assays of 24.8 meters at 9.8% grade of copper and 14.5 grams per tonne (g/t) grade of silver from 2.4 meters as well as 22.6 meters at 8.1% grade of copper and 13.5 g/t grade of silver from 3.7 meters.

New drill holes have extended the known copper mineralization to around 500 meters below surface, representing a 170 meters down-depth extension below the current mineral resource, per the filing.

PolarX's shares jumped over 14% in recent trading on Wednesday, while Northern Star Resources' shares shed about 1%.

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