DD Property

Location

The road-accessible DD Property is located approximately 35 km southwest of Cranbrook, British Columbia, and benefits from proximity to rail infrastructure, power, and a local workforce. PJX owns 100% of the mineral rights to the 2,340-hectare property.

The property is also situated approximately 120 km east of Teck’s Trail Metallurgical Complex, which has produced approximately 8 million tonnes of zinc, 9 million tonnes of lead, and more than 285 million ounces of silver from processing concentrate from the Sullivan Mine. The Sullivan Mine supplied concentrate for over 90 years before closing in 2001.

Exploration Potential

The DD Property occurs within a sedimentary basin known as the Panda Basin, which is geologically similar to the Sullivan Basin that hosts the Sullivan sedimentary exhalative (SEDEX) deposit located approximately 45 km to the north.

The Company believes the DD Property has similar potential to its Vine and West Basin properties for hosting a Sullivan-type (SEDEX) zinc-lead-silver deposit.

The Sullivan Deposit occurs at a geological horizon known as the LMC (Lower-Middle Aldridge Contact).

Historic drill holes testing the LMC horizon in the vicinity of the property have encountered geology that supports the potential for a Sullivan-type deposit. The thickness, alteration, and anomalous zinc-lead mineralization of the LMC horizon progressively increase in intensity as drill holes are located closer to the DD Property (see cross-section, "Panda Basin Geology Adjacent to DD Property").

In June 2021, drill hole DD21-02 on the DD Property intersected an unusually thick 168-metre section of fragmentals and Sullivan muds, with anomalous zinc mineralization occurring at the base of the section.

Historic drill hole IR07-01, drilled approximately 2,300 metres east of DD21-02, intersected approximately 149 metres of moderately to highly hydrothermally altered Sullivan sediments at a depth of 1,365 metres, with assays returning up to 0.5% zinc (Zn) and up to 0.3% lead (Pb).

Magnetotelluric (MT) geophysical surveys have identified large conductive targets along strike from drill hole DD21-02. Portions of the Sullivan Deposit consist of conductive massive sulphide mineralization, making these targets particularly significant.

Recent drill holes (Pan18-01ext, DD21-01, and DD21-02), together with historical holes (Irish05-01 and IR07-01), support the interpretation that the vector toward a vent and possible massive zinc-lead-silver mineralization may lie further northeast on the DD Property.

Next Steps

PJX management believes the DD Property has potential to host a Sedex massive sulphide deposit, based in part on drilling results from the property and historical drilling in the surrounding area. Mobile MT (EM) anomalies on the DD Property that have not yet been fully drill tested may be considered for future testing.