Toronto, Ontario – April 2, 2019 – PJX Resources Inc. (“PJX”) is pleased to announce that the first hole to test the large Magnetotelluric (MT) geophysical target at depth has intersected localized tourmaline alteration for the first time on the Vine Property. This style of alteration can be found in proximity to the Sullivan deposit that is located approximately 35 km north of the Vine Property near Cranbrook, British Columbia, Canada.
Drilling to test the shallow target intersected a narrow massive sulphide vein that management believes could represent re-mobilized mineralization from a massive sulphide body at depth. Laboratory analysis of the massive sulphide part of the vein, excluding wall rock, grades 3.73% lead, 1.97% zinc, 23.37 g/t silver with anomalous gold (0.05 g/t) and copper (.08%).
“Having both tourmaline alteration at depth and zinc, lead, silver with anomalous gold and copper mineralization in the massive sulphide vein is very encouraging”, states John Keating. “If the massive sulphide portion of the vein represents remobilized mineralization from a massive sulphide deposit at depth then this supports that the larger target at depth would not be just iron sulphide but could also contain lead, zinc, silver, copper, and gold. In addition, drilling from 2015 to 2017 intersected disseminated and bands of sphalerite (zinc) mineralization locally in the metamorphosed phyllite up-dip from the large MT target at depth.”
Results of down hole geophysics will be compiled with the new understanding of the geology to prepare for the next phase of drilling that is planned to commence in May.
The road-accessible Vine Property is located approximately 140 km east of the Trail Metallurgical Complex and about 35 kilometres south of the historical Sullivan Mine, which operated for over 90 years before being closed in 2001. The property is at an elevation with terrain amenable to drill at any time of the year. It is crossed by two power lines as well as a rail line and is only a 20-minute drive south along Highway 3 from Cranbrook, British Columbia.
The foregoing geological disclosure has been reviewed and approved by Dave Pighin P.Geo. and John Keating P.Geo. (qualified persons for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Pighin is the consulting geologist for PJX on the Vine Property. 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 and base metals. PJX’s 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
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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”, “appears to”, “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.
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