Gold Shear Property that hosts the high grade David gold occurrence is road accessible and located 29 km southwest of Cranbrook, British Columbia.
According to B.C. Ministry of Energy Mines and Petroleum Minfile data, gold was first discovered in 1990 when an exposure of gold-mineralized quartz veining within a shear zone was chip sampled across 40 centimetres and assayed up to 144 grams per tonne gold. The shear zone occurs within quartzites and siltstones of the Middle Aldridge Formation and has been traced along strike for 1600 metres and 150 metres downdip. The shear is also reported to contain anomalous gold values over this entire length.
“Drilling outlined one continuous zone of gold mineralization over a strike length of 150 metres and to a depth of more than 100 metres; thickness averages 2.35 metres. Inferred resources for this zone are 96,000 tonnes grading 13.08 grams per tonne gold (uncut) or 7.11 grams per tonne gold (cut). (Property Development Report by Bapty Research Ltd., 1991).” (quoted from the B.C Ministry of Energy Mines, and Petroleum Resources’ Minfile Record Summary (082FSE108).
Bapty Research Ltd.’s resource estimate reported above is a historical estimate and was not prepared using the resource categorizations set out in NI 43-101. PJX management is not aware of any more recent resource estimate for this property and is uncertain as to the relevance or reliability of the historical estimate. PJX is not treating the historical estimate as current mineral resources or reserves, as a qualified person has not done sufficient work to classify the historical estimate.
The Gold Shear Property has not been explored since it was last drilled in 1996. The untapped potential of the property is considered to be significant given the strike length of the shear, the shallow depth of historical drilling, the good gold grades and apparent continuity of the David occurrence.
It is reported that about 70 shallow holes were drilled on the property in the 1990’s. Next step is to collect and compile all available historical data to identify structural and other controls for gold mineralization. This work will be used to guide geophysics, trenching and drilling to expand the gold zone or zones on strike and at depth.