Toronto, Ontario – January 20, 2020 – PJX Resources Inc. (“PJX”) is pleased to announce that vein hosted high-grade gold mineralization, with a weighted average of up to 25.07 grams per tonne (g/t) over 2.1 metres (m) true width, was intersected by drilling on the David Gold Zone on the Gold Shear Property near Cranbrook, British Columbia, Canada.
“Gold mineralization appears to be associated with an intrusive source” states Mr. John Keating, President and CEO of PJX Resources. “Intrusive related gold mineralizing systems can have significant lateral and vertical extent. Drilling also indicates that the shear system hosting the gold continues to depth and that the gold mineralization within the shear appears to occur in a zone that plunges to the north. This important information will help guide the next phase of drilling planned for this summer. Geophysics suggests that there may be additional parallel gold zones not yet drilled on strike and at depth. Drilling will also be carried out this winter to test the New Massive Sulphide (zinc, copper, lead, silver) zone discovered last year on PJX’s Vine Property.”
Highlights of the 2019 Exploration Program
In early 2019, PJX received a 5-year permit from the BC government to drill and trench the David Gold Zone and other targets on both the Gold Shear and adjacent Eddy Properties. In the fall of 2019, PJX undertook it’s first drilling program described above.
The next phase of drilling on the Gold Shear Property will target the potential for high-grade gold mineralization down plunge to the north on the David Gold Zone, and the potential for parallel high-grade gold zones at depth and on strike of the David Shear.
Potential for Additional Gold Zones
Geophysical Target at depth
West Shear Target
David Gold Zone Background
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. The samples assayed up to 144 g/t gold. The shear zone occurs within quartzites and siltstones of the Middle Aldridge Formation and has been traced by widely spaced drilling along strike for 1600 metres and 150 metres downdip. The shear is also reported to contain anomalous gold values over this entire length. The shear strikes north toward PJX’s adjacent Eddy Property.
The Gold Shear and Eddy Properties are road-accessible and proximal to power lines, rail lines and the cities of Cranbrook and Kimberley, British Columbia, Canada.
The foregoing geological disclosure has been reviewed and approved by Michael Seabroook P.Geo. and John Keating P.Geo. (qualified persons for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Seabrook is the consulting geologist for PJX on the Gold Shear and Eddy Properties. Mr. Keating is the President, Chief Executive Officer and a Director of PJX.
Sampling and QA/QC
All technical information for the Gold Shear exploration program is obtained and reported under a quality assurance and quality control (“QA/QC”) program. Samples are taken from core cut in half with a diamond saw under the direction of qualified geologists. Samples are then labeled, placed in plastic bags, sealed and with interval and sample numbers recorded. Samples are delivered by PJX to Bureau Veritas in Vancouver, B.C. Systematic processing and analysis of standards, blanks and duplicates is performed for precision and accuracy. Analysis for gold, silver, zinc, lead, copper and related trace elements was done by Aqua Regia digestion with ICP-MS analysis. All drilling reported is NQ core.
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 ADDITIONAL INFORMATION PLEASE CONTACT:
Linda Brennan, 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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