Toronto, Ontario – January 15, 2024 – PJX Resources Inc. (“PJX” or “the Company”) is pleased to announce recently received results of significant zinc and lead mineralization in outcrop that further supports the potential to discover a Sullivan type deposit on the Company’s Dewdney Trail Property in the Sullivan Mining District in southeastern British Columbia, Canada.
Two rock samples taken from outcrop, G23-699B and G23-699C below, returned values of 5.57% zinc, 0.94% (9450ppm) lead, 4.41g/t (4.41ppm) silver, and 4.72% zinc, 1.28% lead, 6.07g/t (6.07ppm) silver, respectively. The sediment hosted zinc and lead mineralization appears as bands or beds. (see photos of samples G23-669B and 669C). The bedrock exposures of mineralization occur upslope and north of semi-massive to massive sulphide boulders containing Sullivan deposit style and grade mineralization announced in the news release dated October 12, 2023 (see photo of discovery locations, and photos of some of the semi-massive to massive sulphide boulders, samples STM-23-7 and STM-23-8).
Sample G23-669B (5.57% zinc, 0.94% lead, 4.41 g/t silver)
Reddish-brown coloured bands and beds of sphalerite (zinc sulphide) in sediments.
Sample G23-669C (4.72% zinc, 1.28% lead, 6.07 g/t silver)
Reddish-brown coloured bands and beds of sphalerite (zinc sulphide) in sediments.
Sample STM-23-7 (9.33% zinc, 2.48% lead, 14.62 g/t silver, 495 ppm or 0.05% copper)
Alternating dark and light coloured bands with sulphides (zinc, lead, iron) appear to be sulphide-rich beds that have broken apart possibly by slumping during deposition, or during later folding.
Sample STM-23-8 (3.55% zinc, 0.98% lead, 7.5 g/t silver, 442 ppm or 0.04% copper)
Although the overall grade of this sample is lower it tells an important story. The individual massive sphalerite fragments are a possible indicator of higher grade zinc rich massive sulphides buried under the talus up-slope.
Semi-massive to massive sulphide boulders occur in talus at the base of the mountain slope. Outcrop with sediment hosted zinc-lead-silver mineralization occurs up-slope and to the north of the boulders’ location. (photo looking northeast)
Deposit Potential
- Significant sediment hosted zinc and lead mineralization found in outcrop greatly increases the probability that the boulders of Sullivan grade semi-massive to massive sulphide mineralization found at the base of the mountain slope are close to their source.
- The semi massive to massive sulphide boulders are strongly magnetic with iron, zinc and lead sulphides. The mineralized samples from outcrop have predominantly zinc and lead sulphides and are only very weakly magnetic. This suggests that the two styles of mineralization represent separate zones or horizons that could be stacked above one another or lateral to each other, similar to mineralization at the Sullivan deposit.
- The semi-massive to massive sulphide boulders are also different in appearance. For example, some are banded/bedded or fragmental in nature. Others are iron sulphide rich while others are more zinc sulphide rich. These differences in mineralization styles also suggest that the various strongly magnetic and higher grade mineralized boulders may be from distinct and separate stacked horizons.
- The strongly magnetic semi-massive to massive sulphide boulders occur at the base of the mountain slope and on the edge of a large (about 500m diameter) strong magnetic geophysical anomaly (pink to red coulours on the airborne magnetic map) that occurs upslope from the boulders.
- Zinc-lead-silver sulphide mineralization in outcrop is only very weakly magnetic. This supports the potential for a vertically or laterally zoned deposit with varying magnetic signatures. The outcrop mineralization appears to be associated with a less magnetic trend (orange to red coulours) in the airborne geophysics survey that occurs for possibly 1.6 km along strike (see airborne magnetic map below).
Airborne Magnetic Map
John Keating, President of PJX commented: “Discovering Sullivan deposit style and grade mineralization in boulders that we announced in October was exciting. Now having discovered sediment hosted zinc-lead-silver mineralization in place, in outcrop, up-slope from the boulders is even more encouraging. Mineralization, geology, and geophysics all support the potential to discover a Sullivan type deposit. The next step will be to drill to explore for size and grade potential. Work is underway to do this when permit amendments are received and the snow melts.”
Qualified Persons
The geological disclosure and content of this news release has been reviewed and approved by John Keating P.Geo. (qualified persons for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Keating is the President, Chief Executive Officer and a Director of PJX.
About PJX Resources Inc.
PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold, silver, and critical metals including copper, zinc, cobalt, indium, and others. PJX’s primary properties are road accessible, close to power, rail, and located in the historical mining area of Cranbrook and Kimberley, British Columbia. Please refer to our web site http://www.pjxresources.com for additional information.
FOR ADDITIONAL INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer
(416) 799-9205
Cautionary Note Regarding Forward-Looking Information
The information in this news release has been prepared as at the date noted above. Certain statements in this news release, referred to herein as “forward-looking statements”, constitute “forward-looking statements” under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as “expected”, “may”, “will” or similar terms.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by PJX Resources Inc. as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, PJX Resources Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in PJX Resources Inc.’s expectations or any change in events, conditions or circumstances on which any such statement is based.
Cautionary Note to US Investors:
This news release may contain information about adjacent properties on which PJX Resources Inc. has no right to explore or mine. We advise U.S. investors that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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