Toronto, Ontario – October 3, 2017 – For the first time on the Zinger property , mapping by Dr. Trygve Hoy (PEng) and Michael Seabrook (PGeo) and VLF (Very Low Frequency) geophysics show a possible correlation between approximately flat to slope parallel fold and shear structures at surface with high values of gold in soils.
“Gold mineralization with values up to 32 grams per tonne can be traced in bedrock grab samples over a 6 kilometre strike length on the Zinger Property .” states Mr. John Keating , President and CEO. “The newly discovered slope parallel structures may influence the deposition and formation of gold deposits. The potential exists for multiple gold deposits over the 6 kilometre strike length on the Zinger Property. This new information is key in determining targets for drilling.”
Soil sampling on the Zinger Property’s East and West soil grids identified 2 large areas with high concentrations of gold in soils. The East soil grid gold anomaly covers an area approximately 75 metres wide and 250 metres long with gold values ranging from 100 parts per billion (ppb) to 4,941 ppb (4.941 g/t) gold in the soil. The West soil grid gold anomaly covers an area approximately 100 metres wide by over 300 metres long with gold values ranging from 100 ppb to over 700ppb. Both gold anomalies are open along strike.
Of particular interest is the presence of a substantial quantity of gold grains discovered in the soil. Heavy Mineral separation at CF Minerals Laboratory recovered 898 and 256 grains of gold from two 4 kg samples of soil taken on the East grid. (see East Soil Grid Gold Anomaly at http://pjxresources.com/ZingerGoldAnomalyEastSoilGrid.pdf). As previously reported, geologist Dr. Charles (Chuck) Fipke, President of CF Minerals Research Ltd., assessed the gold grains and determined that the angularity and other morphological features support that they have not travelled far and that the bedrock source of the gold is likely within 50 metres to 400 metres of the sample locations on the East Grid.
Geological mapping and geophysics suggest that the gold may be related to approximately slope parallel folding and/or shear structures in the bedrock. Mapping by Dr. Trygve Hoy (PEng), and Michael Seabrook (PGeo) has discovered relatively flat lying to slope parallel fold and shear structures for the first time on the Zinger Property. VLF ground geophysics carried out on the East grid has identified a slope parallel VLF anomaly that may represent a slope parallel structure related to gold in the soils. (See stacked VLF and gold soil profile http://pjxresources.com/ZingerStackedProfileLine4550.pdf). The stacked profile for East Grid line 4550 shows how the highest values of gold in soil (4941 ppb gold and 1351ppb gold) occur somewhat coincident with where a slope parallel VLF anomaly comes to surface. Anomalous gold in soil also occurs to the east above the location where a larger VLF anomaly occurs at about 100m below surface.
“The slope parallel anomaly is visible in the VLF signal from both the Seattle and Hawaii transmitting stations.” states Fred Cook, PGeo & Professor Emeritus with the University of Calgary. “The VLF anomaly can also be traced across the grid and appears to be open along strike.” (see series of stacked profiles http://pjxresources.com/ZingerSeriesofStackedProfiles.pdf)
The company is using this new potential control for gold mineralization to develop additional targets for drilling across the Zinger Property, including the large gold in soil anomaly on the West Grid.
Drilling also continues on the Vine Property to explore for a Sullivan type zinc-lead-silver deposit. Results of this work will be announced when the exploration program is completed.
The foregoing geological disclosure has been reviewed by John Keating P.Geo. (qualified person 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. PJX’s primary properties are 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 FURTHER INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer (416) 799-9205 info@pjxresources.com
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.