PolarX Limited (ASX:PXX)

PolarX Limited (ASX: PXX) reported on the quarter ended 30 September 2026, highlighting strong exploration progress at its Alaska Range Copper/Gold Project, particularly at Caribou Dome where a 22-hole, 6,687m diamond drilling program delivered high-grade copper and silver results including 24.8m at 9.8% Cu and 14.5g/t Ag in CD26-007, 22.6m at 8.1% Cu and 13.5g/t Ag in CD26-004, and a 58.5m interval at 2.0% Cu and 3.9g/t Ag in CD26-009 that extended mineralisation more than 60m west of the current mineral resource estimate boundary; the company said modern assaying of twin holes suggests historical drilling may have understated grades, while holes CD26-003 and CD26-008 supported depth potential and magnetic data indicated around 500m of further western extension near a possible feeder zone, with 13 hole assays still pending. At the Stellar Project, PolarX completed a Mobile Magneto-telluric airborne survey and detailed mapping over the Gemini-Jupiter anomaly to refine 2027 drill targets, with results pending, and no work was undertaken at the Humboldt Range Project in Nevada during the quarter. Funding for Alaska field activities continues under the Northern Star joint venture, under which Northern Star had increased its interest in Alaska Range Pty Ltd to 30% after its second earn-in payment. In the accompanying Appendix 5B, PolarX reported net cash used in operating activities of A$511,000, net cash used in investing activities of A$5.216 million, exploration and evaluation expenditure of A$5.173 million, tenement payments of A$43,000, quarter-end cash of A$4.037 million, and estimated funding of 0.71 quarters, noting expected lower cash outflows after the September field season and potential future support from Northern Star’s next optional contribution of up to US$8 million by 31 March 2027 as well as possible equity raisings.