PJX Resources Signs Investor Relations Agreement And Provides Exploration Update
Toronto, Ontario – February 18, 2013 – PJX Resources Inc. (“PJX” or the “Company”) is pleased to announce that the company has signed an agreement to retain the investor relations services of Kaye Wynn Consulting Inc. (“Kaye Wynn”) for an initial period of three months. Kaye Wynn will assist the Company with its investor relations and market awareness programs by reaching out to its network of investors, brokers, analysts, media contacts, and industry professionals to create a greater awareness of PJX. Kaye Wynn will receive a fee of $4,000 per month. The agreement may be cancelled by either party on 30 days notice.
Kaye Wynn was founded in 2010 by Karen Winrob, its principal, and currently maintains its offices in Vancouver, British Columbia. Kaye Wynn is at arm’s length to the Company and does not own any shares, directly or indirectly, in the capital of the Company. Kaye Wynn is able to purchase shares of PJX, at its discretion, from time to time in accordance with all applicable corporate, securities and other laws, rules, regulations, notices and policies, including those of the TSX Venture Exchange.
Company President and CEO, John Keating, comments, “Kaye Wynn’s experience in investor relations will greatly help to improve Company visibility in the capital markets. We look forward to working with Kaye Wynn to help communicate the potential of our Cranbrook properties.”
Plans are underway for a proposed 1200 metre drilling program on the Vine Property in early 2013. Management has identified two primary targets on the property: sub-vertically dipping vein style gold-silver- lead-zinc-copper mineralization (“Vine Structure”) and shallow dipping Sullivan style massive sulphide lead-zinc- silver mineralization. The property is located 30 km south of the Teck’s past producing Sullivan Mine.
Historical drilling has identified mineralization within the Vine Structure for over 1 kilometre along strike and to a depth of about 500 metres in one location. Drill data from over 50 drill holes completed by Kokanee Exploration Ltd. in the early 1990’s on the Vine Structure has been compiled and digitized for computer modelling. The data is being used to help assess the potential for more mineralization on strike and at depth. The results of this work will be used to identify drill targets on the Vine Structure.
In addition, an airborne VTEM geophysical survey has identified a large Electro Magnetic (EM) anomaly on the Vine Property. Compilation of historical drill data and surface geology suggests that the anomaly may occur at the same geological time horizon that hosts the Sullivan lead-zinc-silver deposit. The anomaly may also be associated with a deeper sulphide horizon that was intersected by Kokanee Exploration Ltd. in a 1990 drill hole located about 1.5km north-east of the anomaly. The 4m sulphide intersection averaged 0.11g/t gold, 42 g/t silver, 4.3% lead, 2.1% zinc, and 0.4% copper.
Sections and plan maps for the 2012 drilling program on the Zinger Property are now available on the company web site (http://pjxresources.com/zg12-02-section-b-b.pdf and http://pjxresources.com/zinger-maps.pdf). Drilling in late 2012 intersected gold mineralization in altered sediments that remains open along strike.
Highlights from that program include an intersection of 2.92 g/t gold over 2 m within a broader interval of 0.50 g/t gold over 22.38 m from a depth of 2.62 m (bedrock) down to 25 m in Hole ZG12-02. The gold mineralization appears to occur where the sediments fold and plunge to the north at 20 degrees. The zone is untested down plunge to the north and additional gold mineralized zones may occur at depth. Further testing is planned for 2013.
The Eddy Property covers a 20 km shear zone with gold mineralization in historical and more recent rock grab samples ranging up to 56 g/t taken along and within the vicinity of the shear. Airborne geophysics had identified 4 large EM and/or magnetic anomalies at depth. They occur in a geological environment that may be favourable for gold and/or base metal mineralization. Four preliminary holes that were drilled in late 2012 to test the geophysical anomalies were inconclusive as the source of the anomalies could not be defined by the geology.
Quantec Geoscience Ltd. was contracted to send a geophysical probe down 3 of the holes to try and determine the source of the airborne conductors. Down hole geophysics on 2 of the holes (ED12-01, ED12-04) has identified moderate to strong conductors that may represent mineralized zones off to the side of the holes. Quantec has interpreted 3 priority targets for further testing. Hole ED12-01 has a target off-hole at a depth of 225m, and ED12-04 has an off-hole target at 150m and a second target at 200m depths.
Hole ED12-03 could not be probed as the hole had caved-in and this prevented the geophysical probe from being lowered down the hole. Hole ED12-02 was a short hole and was not probed. Additional geophysics may be undertaken to help further define the geophysical anomalies.
Historical analyses and data have been compiled from reports by previous companies that worked on the properties and documents published by, or assessment reports filed with, the Government of British Columbia. The technical accuracy of the historical data has not been verified by the Company.
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. site http://www.pjxresources.com for additional information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer
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.
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.
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.