Toronto, Ontario – September 16, 2021 – PJX Resources Inc. (“PJX” or the “Company”) is pleased to announce the potential of 2 large areas containing gold, copper, zinc, lead, and/or silver mineralization in soils along a 10 km trend. The geological environment has potential to host a variety of deposit types, such as the Telfer gold-copper deposit in Australia, Sukoi-Log gold deposit in Russia, Pebble gold-copper deposit in Alaska, and the Sullivan zinc-lead-silver deposit. The Dewdney Trail Property is located in the Vulcan Gold Belt of the Sullivan Mining District near Cranbrook, southeastern British Columbia, Canada.
Highlights
- Gold locally occurs in sediments with stockwork quartz veining and sericite-carbonate alteration (see photo A below).
- Gold grades in rock grab samples can range from anomalous to over 30 g/t.
- Multiple target areas have been identified along a 10 km trend.
- Two of the most advanced exploration targets are the Tackle Basin area (approximately 2 km x 2 km) and the Lewis Ridge area (approximately 3 km x 2 km).
- Gold is the dominant element in soils in the Tackle Basin area.
- The Lewis Ridge area has a multi-element signature of gold, copper, zinc, lead, bismuth, molybdenum, arsenic and silver in soil (see Figures 1 to 8 below).
- Mineralization occurs in sediments similar in age (Proterozoic) and/or type (turbidites, quartzites) to other deposits such as Telfer, Sukoi-log and Sullivan.
- Sediments have been intruded by felsic intrusives (alkalic, calc-alkalic) similar in age (Cretaceous to possibly Eocene) to deposits such as Pebble or the Butte district in Montana.
- Gold and/or copper mineralization can also be associated with felsic intrusives.
- Both target areas occur within the hinge and/or limb of a large regional anticline fold structure.
- Next steps include the assessment of airborne magnetotelluric and magnetic surveys along the 10 km trend to help define drill targets.
“The Lewis Ridge and Tackle Basin are two of a number of highly prospective targets that we have identified on our large land package in the Sullivan Mining District” states John Keating, President and CEO of PJX Resources. “We recently announced the Gar granitic intrusive target with grab samples of sheeted veins ranging from anomalous to 28,841 ppb (28.84 g/t) gold on our Zinger Property (see August 17, 2021 press release). We also have the high grade David Gold Zone on the Gold Shear Property. Drilling has commenced to test on strike and down plunge of the David Gold Zone. Results of this 1,100 m drill program will be announced in the coming months along with results of mapping, prospecting, geochem and geophysics on other target areas. We believe the Sullivan Mining District has potential to host multiple gold and base metal deposits. We invite you to watch our 3 minute video explaining why”. (https://youtu.be/iCbzQDi6ANo or www.pjxresources.com)
Stock Option Grant
The Company’s board of directors has authorized granting stock purchase options to certain directors, employees and consultants to acquire an aggregate of 2,685,000 common shares at an exercise price of $0.20, expiring September 12, 2026. The foregoing is subject to regulatory acceptance.
Qualified Persons
The foregoing geological disclosure 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 base metals (zinc, lead, copper, nickel). PJX’s primary properties are located in the historical Sullivan Mine District and Vulcan Gold Belt near 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
Forward-Looking Information
This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.
Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.