PolarX Raises AU$5 million to Accelerate Exploration at Humboldt Range Gold Project

PolarX Limited (ASX: PXX) has secured firm commitments to raise AU$5 million via a single-tranche placement of 335 million shares at AU$0.015 each, supported by new and existing institutional and sophisticated investors. Proceeds will fund expanded exploration at the Humboldt Range Gold Project in Nevada, with planned geophysical surveys and a two-phase RC drilling program totalling 10,000m across the Star Peak and Fourth of July prospects. The raise complements PolarX’s recent joint venture with Northern Star Resources at the Alaska Range Copper-Gold Project, which could see up to AU$60 million invested over five years. Together, the JV funding and placement strengthen PolarX’s financial capacity to advance both Alaskan and Nevadan assets. With nearby infrastructure, including operating mines, the company aims to assess potential heap leach operations while exploring high-grade quartz-hosted gold targets, positioning itself to benefit from strong gold and copper markets.

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