Toronto, Ontario – July 21, 2022 – PJX Resources Inc. (“PJX”) is pleased to announce that 3-dimensional modelling of airborne geophysical survey data has identified a strongly conductive MobileMT (MT) anomaly with a coincident magnetic (mag) signature that could be related to massive sulphide mineralization. The anomalies occur in a geological environment with potential to host a Sullivan type massive sulphide deposit at the Lewis Ridge target on PJX’s Dewdney Trail Property near Cranbrook, British Columbia.
John Keating, President of PJX commented: “Geological, geophysical and geochemical data support the potential to discover a Sullivan type deposit at depth in the Lewis Ridge target area. The Sullivan Mine produced ore containing some 17 million tonnes of zinc and lead metal, and more than 285 million oz. of silver over a 90-year mine life. Our first phase of drilling to test the promising Lewis Ridge target is planned to commence this summer.
We see this as just the beginning. The airborne survey is providing insight into geology and mineral potential near surface and at depth that has never been seen before for the Lewis Ridge target as well as other targets such as our Tackle Creek gold target area and the historical Estella Mine, which has not been worked or explored since the 1960s. Our on-going exploration this year is expected to define highly prospective gold and base metal targets to test in addition to the Lewis Ridge target.“
Figure 1 – Lewis Ridge Target, Sullivan type target along Jackleg fault that may be eastern extension of Kimberley fault at the Sullivan Deposit.
Figure 2 – Lewis Ridge Target – large conductive Mobile–MT anomaly extends for over 2.5 km from Jackleg Fault, similar to how Sullivan deposit extends from Kimberley fault. Jackleg fault is considered to be the possible eastern extension of Kimberley fault at the Sullivan deposit.
Figure 3 – Lewis Ridge Target – cross sections of Mobile MT data along flight lines indicate that the veryconductive core of the anomaly may be as shallow as 400m below surface depending on topography.
Figure 4 – Lewis Ridge Target – conductive core of Mobile MT anomaly appears coincident with a large magnetic anomaly. Sullivan type massive sulphide mineralization can be conductive and/or magnetic. Horizontal orientation of anomalies suggest that the target area may host folded Sullivan type massive sulphide mineralization at or below Sullivan equivalent geological time.
Refer to our web site for additional Figures showing bismuth, molybdenum, arsenic and silver anomalies in soils within the Lewis Ridge target area.
The foregoing geological disclosure has been reviewed and approved by John Keating P.Geo. (qualified persons for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). 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, silver and base metals (zinc, lead, copper, nickel). PJX’s primary properties are located in the historical Sullivan Mine District and Vulcan Gold Belt near 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.
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