Toronto, Ontario –March 2, 2012 – PJX Resources Inc. (“PJX”) is pleased to announce results to date from the mapping, geochem and geophysics program on the Zinger Property.
Gold Geochem and Mapping
Bedrock grab samples have identified gold mineralization over an area 8 km long and 2 km wide on the property. Since 2008, approximately 1380 grab samples of bedrock have been collected and analyzed. Approximately 750 samples reported analyses above 20 ppb gold including:
– 86 samples ranging from (0.5g/t) to (1.0 g/t)
– 101 samples ranging from (1.0g/t) to (5.0 g/t)
– 37 samples were equal to or greater than (5.0g/t)
– The highest value reported is (39.6g/t) gold.
The results from the geochem and mapping program indicate that anomalous gold mineralization appears to occur along bedding planes with higher concentrations of gold in veins and zones perpendicular to or at oblique angles to bedding within quartzites.
Geophysics and Gold Mineralization
In November 2011 Geotech Ltd. completed a detailed 340 kilometre electromagnetic and magnetic airborne geophysical survey over the entire mineralized area on the Zinger Property.
The electro-magnetic data has identified a large resistive zone at depth that is coincident with and outlines the majority of the gold mineralization. This zone may be an intrusive or a large area of more intense silicification and alteration associated with gold mineralization. An Airborne Conductivity Map presenting this data can be seen at: http://pjxresources.com/wp-content/uploads/2011/07/120229-zinger-c4042-res-outline-au.jpg
In addition, the magnetic data has identified a 5 kilometre long magnetic trend that is coincident with some of the highest grade gold analyses in rock. An Airborne Magnetic Map presenting this data can be seen at: http://pjxresources.com/wp-content/uploads/2011/07/120229-zinger-hd-mag-outline-au.jpg
2012 Exploration Program
Based on these results, PJX’s 2012 summer exploration program will focus on the highest concentrations of gold and best geophysical features which will include further detailed mapping and a planned drilling program.
The road-accessible Zinger Property is located 24 km west of Cranbrook, British Columbia and covers 12,400 hectares over a 20 km strike length.
Company President and CEO, John Keating, comments, “PJX is very encouraged with the development of the Zinger target areas. This is the largest virtually untested gold trend that I have seen in my years of exploration. One explanation for why a gold deposit has not been found to date is because the deposit may not come to surface. The ability of airborne geophysics to explore at depth helps narrow our search and may be the key to unlocking the location of potential gold deposits.”
The Zinger target areas, combined with the large gold targets developing on the Dewdney Trail Property, increase the company’s potential for a discovery.
PJX has flown an airborne geophysical survey over the 14,600 hectare Eddy Property in the Cranbrook area. This large property has gold and copper potential. The data is being compiled and results from this work will be announced in the near future.
The foregoing geological disclosure has been reviewed by John Keating, P.Geo. (a qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Keating is the President, CEO 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:
Chief Financial Officer
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.
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