Toronto, Ontario – October 24, 2013 – PJX Resources Inc.(“PJX” or the “Company”) is pleased to announce that it has completed the compilation of the results of a preliminary gravity geophysical survey conducted by Excel Geophysics Inc. and historical data on the Vine Property located near Cranbrook, British Columbia. Interpretation of this data has identified a large target area with massive sulphide deposit potential.
The positive gravity anomaly occurs north of the Vine occurrence and defines an area that is approximately 2 km in width and 3-4 km in length with an apparent shallow dip to the north (see map at http://pjxresources.com/wp-content/uploads/2011/07/vine-gravity-anomaly.jpg). The gravity anomaly identifies more dense material that could represent massive sulphides within the sedimentary rocks. It appears to parallel stratigraphy within Proterozoic-age Aldridge Formation sedimentary rocks that correlate with those that hosted the Sullivan massive sulphide deposit, located 35 km north of the property.
The interpreted sulphide potential is supported by two historical holes drilled by Kokanee Explorations Ltd. in 1990 and Consolidated Ramrod Gold Corporation in 1994. Each of the holes intersected lead-zinc-silver mineralization in massive sulphides at depths of approximately 700m and are located on the western edge of the gravity anomaly (see map at http://pjxresources.com/wp-content/uploads/2011/07/vine-cross-section.jpg).
The actual depth and source of the anomaly is unknown until drill tested. The Company plans to conduct more detailed gravity work to better define the anomaly in order to develop drill targets.
A second less well defined gravity anomaly has also been identified 6 km southwest of the Vine anomaly. This anomaly is located on the western side of the Vine grabben, and contains two known lead-zinc occurrences, called the Fors and Smoker. Based on these results, the Company has consolidated a land package in the Fors and Smoker area called the West Basin Property (see map at http://pjxresources.com/wp-content/uploads/2011/07/vine-west-basin-map1.jpg).
“These are exciting new target areas for the company to explore”, stated John Keating, President and CEO. “The Vine target area is of greatest interest given that historical drilling has intersected massive sulphide mineralization at a depth and location that may correlate with the edge of the gravity anomaly.”
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 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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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.