Toronto, Ontario – March 1, 2019 – PJX Resources Inc. (“PJX”) is pleased to announce that preliminary drilling to test a shallow Magnetotelluric (“MT”) target has intersected massive sulphide mineralization consisting of pyrrhotite/pyrite (iron sulphides) with minor sphalerite (zinc sulphide), galena (lead sulphide), and chalcopyrite (copper sulphide). The massive sulphide mineralization is conductive and occurs as a 0.8 m thick vein in sediments near the top of the shallow MT target. As previously announced, MT geophysics have identified both shallow and much larger deeper conductive targets on PJX’s Vine Property located near Cranbrook, British Columbia, Canada.
“The massive sulphide vein is 0.8 metres thick and is faulted along the footwall (bottom side) of the vein.” states Dave Pighin. “The current hole entered a thick gabbro rock unit following the fault which suggests that the sulphide vein has been faulted away with the possibility that there is more of the vein or additional veins that the hole missed in the gabbro unit at the center of the MT anomaly. Additional drilling is recommended once all the data has been compiled and assessed.”
“This is an important finding as a proof of concept that MT is working and identifying massive sulphide.”, states the President and CEO of PJX, John Keating. “PJX’s primary target is a potential massive sulphide body possibly similar to a Broken Hill type deposit. Intersecting massive iron sulphide with minor zinc, lead and copper sulphide mineralization as a vein provides greater confidence that MT is identifying sulphides rather than other sources of conductivity, such as graphite. The deeper MT target is much larger, with a coincident magnetic signature and possible gravity response as compared to the shallow target. This larger, more conductive MT anomaly may be similar in style of mineralization to the Broken Hill deposit as it appears to be associated with the favourable folded phyllite and breccia rock units that host zinc mineralization above a regional fault. This will be the next target area to drill.” (see MT with Geological cross sections at http://pjxresources.com/PJX_Vine-X_Sections.pdf).
The road-accessible Vine Property is located approximately 140 km east of Teck’s Metallurgical Complex and about 35 kilometres south of the Sullivan Mine, which operated for over 90 years before being closed in 2001. The property is at an elevation with terrain amenable to drill at any time of the year. It is crossed by two power lines as well as a rail line and is only a 20-minute drive south along Highway 3 from Cranbrook, British Columbia.
The foregoing geological disclosure has been reviewed and approved by Dave Pighin P.Geo. and John Keating P.Geo. (qualified persons for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Pighin is the consulting geologist for PJX on the Vine Property. Mr. Keating is the President, Chief Executive Officer 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 and base metals. PJX’s 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 FURTHER INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer
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