PNX Metals Limited announced that assay results have been received from its latest program of reverse circulation (RC) drilling completed in late 2018 at its Cookies Corner prospect, located less than 30km from PNX's Hayes Creek zinc-gold-silver project in the Pine Creek region of the Northern Territory. The objective of this program was to extend gold mineralisation discovered in August 2018, and to increase confidence in the continuity of mineralisation to estimate a mineral resource to augment the Hayes Creek project. Based on the assay results PNX has extended the near-surface gold mineralisation at Cookies Corner down-dip, along section (width) and along strike, with multiple zones intersected. Continuity along strike is excellent and mineralisation also appears to be thickening at depth. As part of this program eight new holes were drilled and three previously drilled holes that ended in mineralization were extended. A further twelve planned holes were deferred until the 2019 dry season due to wet weather access limitations. Drilling is expected to recommence from April when access and ground conditions should improve. On completion of the planned drilling PNX expects to be in a position to estimate a near-surface potentially open-pittable gold mineral resource. The three extended holes, CCRC003, CCRC004 and CCRC008 highlight new areas of gold mineralisation that remain open at depth, indicating the potential for a larger gold system than originally anticipated, with better results including: 6m at 1.82 g/t Au from 133 metres in CCRC003, and 4m at 2.12 g/t Au from 58 metres in CCRC004. Drill holes CCRC017, CCRC018, CCRC019 were drilled to test for mineralised extensions 25m to the east and hole CCRC023 was drilled 25m to the west of PNX's initial drill program. All four holes intersected open gold mineralisation extending the width of the mineralised zone to at least 100m. Highlights include: 4m at 2.86 g/t Au from 35 metres in CCRC017; 2m at 4.35 g/t Au from 61 metres in CCRC018, and 11m at 1.13g/t Au from 75 metres in CCRC023. Holes CCRC020, CCRC021 and CCRC022 were designed to test the depth extent of high-grade rock chips sampled from outcrop at surface and soils anomalism along the NNW `rabbit's ear' trend. All three holes intersected narrow lower grade gold mineralisation high up in the hole which is associated with quartz veining in the same lithology as drilled to the south. Three previously planned holes will be drilled down-dip during the 2019 dry season to extend this zone at depth. A number of untested NE-SW trending gold bearing quartz veins associated with NE-SW trending parasitic anticlines have also been identified at surface through mapping and rock chip sampling and these will also be tested as part of the next drill campaign. The Cookies Corner prospect is one of a cluster of gold targets located in the north-west of PNX's Burnside exploration project and is situated at the convergence of two major gold-producing structural corridors, the Pine Creek Shear Zone and the Howley Anticline (host to Kirkland Lake Gold Limited's Cosmo gold mine). The associated geochemical anomaly is directly analogous to that observed over the historic Goodall Mine located 4km to the south-west. Goodall was discovered via geochemical sampling in 1981, mined from 1988-1993 and produced, on average over that time, 41,500 ounces of gold per year.