DD Property

Location


The road accessible DD Property is close to rail, power and a local workforce, and is located approximately 35 km southwest of Cranbrook, British Columbia. The property is comprised of the DD claims, 2340 ha of land, that PJX owns 100% of the mineral rights, subject to a 2% Net Smelter Return (NSR) to Doug Anderson (1%) and David Pighin (1%).

The DD Property is also located approximately 120 km east of Teck’s Trail Metallurgical Complex that produced some 8 million tonnes of zinc, 9 million tonnes of lead, and over 285 million ounces of silver from processing Sullivan Mine concentrate. The Sullivan Mine produced concentrate for over 90 years before being closed in 2001.


Exploration Potential


The DD Property occurs within a sedimentary basin called the Panda Basin that is geologically similar to the Sullivan Basin hosting the Sullivan deposit located about 45 km to the north.

The Company believes that the DD Property has similar potential to the Company’s Vine and West Basin Properties for hosting a Sullivan type (Sedex) zinc-lead-silver deposit.

The Sullivan Deposit occurs at a geological horizon called the LMC (Lower-Middle Aldridge Contact).

Historic holes drilled to test the LMC horizon in vicinity of the DD Property have encountered geology that supports the potential for a Sullivan Type Deposit. The thickness, alteration and anomalous zinc-lead mineralization of the LMC horizon progressively increases in intensity the closer holes are drilled to the DD Property (see cross section “Panda Basin Geology adjacent to DD Property”).

In June 2021, drill hole DD21-02 on the DD property intersected an unusually thick section of fragmentals and Sullivan muds were encountered over 168 metres with anomalous zinc mineralization at the base of the section.

Historic drill hole IR07-01, drilled 2300m east of DD21-02, intersected approximately 149m of moderately to highly hydrothermally altered Sullivan sediments at 1365m with up to 0.5% Zn and up to 0.3% Pb.

Magnetotelluric (MT) geophysics has identified large conductive targets on strike with hole DD21-02. Parts of the Sullivan deposit consist of massive sulphide mineralization that is conductive.

Recent drill holes (Pan18-01ext, DD21-01, DD21-02) and historical holes (Irish05-01 and IR07-01) support that the vector towards a vent and possible massive zinc-lead-silver mineralization is further to the northeast on the Moby Dick and NZOU properties.


DD, NZOU and Moby Dick Property Ownership

DLP can earn a 50% interest in the DD Property by spending $4 million in exploration expenditures on the DD, Moby Dick and NZOU Properties and paying $250,000 cash to PJX by July 13, 2024.

DLP can earn an additional 25% interest, to a total of 75% interest, in the DD Property by completing a Commercial Feasibility Study on the 3 properties by July 13, 2028.

PJX (50%) and DLP (50%) jointly own 100% of the mineral rights to the Moby Dick Property and jointly have the right to own 100% interest in the NZOU Property through an option agreement between DLP and the NZOU Property owner. Exploration expenditures incurred by DLP on these two properties will be applied toward DLP’s exploration expenditure requirements to earn an interest in the DD Property.


Next Steps


PJX management believe that the DD-Moby Dick-NZOU Properties have potential to host a massive sulphide deposit. This potential is based, in part, on historical drilling results in the area around the property, and recent drilling.

The multi-year-area-based exploration permits to drill on the DD, Moby Dick, NZOU properties have been received. Drilling is planned to test multiple large MT targets on strike of hole DD21-02.

  • PJX Property Map

  • Simplified plan showing MT anomalies at 0m elevation on the DD-Moby Dick and NZOU Properties along with drill holes Pan-18-01EX, DD21-01, DD21-02 and historical holes Irish 05-01 and IR07-01.

  • Titan MT resistivity plan at 0m elevation with the main MT anomaly trending NE from DD21-02.

  • Titan MT resistivity section along Line 2N showing drill hole DD21-02 and historical hole IR07-01.