Toronto, Ontario – September 14, 2011 – PJX Resources Inc. (the “Corporation” or “PJX”) is pleased to announce it has commenced trading on the TSX-V with the symbol PJX.
John Keating, President and CEO of PJX, states: “We are excited to have completed our $2.5 million IPO financing and listing on the TSX Venture Exchange. Over $3 million has been spent to date by previous operators to discover numerous gold showings across our large properties in Cranbrook, B.C. We are now working to bring the many showings to the next stage of exploration to determine if any of them could become a gold deposit. Drilling is planned to commence on a number of targets this October.”
Rock grab samples containing gold concentrations to 18 grams/tonne highlight a mineralized quartzite unit on PJX’s Dewdney Trail property. The large tonnage potential of the gold quartzite rock unit is what attracted PJX to the area and the Dewdney Trail Property.
As PJX’s 43-101 report indicates, the key economic driver is target size of the rock unit: 100 metres (m) by over 5000 m. The rock unit contains pockets of visible gold as well as anomalous gold values throughout the unit. Given the pervasive nature of the alteration, and the close spacing of veins, there is potential for a bulk-tonnage type deposit.
The gold bearing quartzite and discoveries have never been drilled. PJX has completed a $2.5 million IPO financing to explore and drill the gold quartzite and other targets. An airborne geophysical survey has been flown and ground work is already underway to refine gold targets for planned drilling in October, 2011.
The Dewdney Trail property is one of 4 highly prospective gold properties that the company plans to explore and develop in the Cranbrook area of British Columbia. PJX Resources’ has an option to earn up to an 80% interest in the 4 gold properties from SG Spirit Gold Inc. The properties are road accessible, close to infrastructure, and located in mining friendly Cranbrook/Kimberley, British Columbia, home of the former world class Sullivan mine.
Mr. Keating concludes: “Our shareholders will benefit from having a Management Team and Board of Director’s with over 120 years of experience in the mineral industry. We look forward to putting this expertise to work for the shareholders of PJX.”
The foregoing geological disclosure has been reviewed by Mr. 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.
More information will be announced about PJX’s exploration activities and other properties in the coming weeks. Please refer to our web site http://www.pjxresources.com for additional information.
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.
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This release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements with respect to completion of economic assessments, exploration results, the success of exploration activities generally, mine development prospects, and future gold production. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “planning”, “expects” or “does not expect”, “continues”, “scheduled”, “estimates”, “forecasts”, “intends”, “potential”, “anticipates”, “does not anticipate”, or “belief”, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the results of due diligence activities, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in PJX’s publicly filed documents.
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.