08:49:22 EDT Sat 20 Apr 2024
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PJX Resources Inc
Symbol PJX
Shares Issued 75,419,896
Close 2017-03-02 C$ 0.24
Market Cap C$ 18,100,775
Recent Sedar Documents

PJX drilling outlines 550 m long Zn zone at Vine

2017-03-02 10:26 ET - News Release

Mr. John Keating reports

EXPLORATION UPDATE

Drilling on the large east gravity anomaly at PJX Resources Inc.'s Vine property has outlined a zone of anomalous zinc mineralization that is at least 550 metres long and has a true thickness of 100.0 metres.

"In my 50 years of experience exploring for a Sullivan deposit I have never seen this style and broad extent of anomalous zinc mineralization," states Dave Pighin, PGeo, for the Vine project. "Drilling also supports that the zinc mineralization occurs in a restricted basin where one would expect to discover a massive sulphide deposit like the Sullivan."

The zinc mineralization, in the form of a mineral called sphalerite, occurs in the upper part of a phyllite rock unit and in the adjacent Lower Aldridge sediments. The phyllite unit has a true thickness of 100.0 metres and forms part of the structural complex that is the Moyie fault zone. Sphalerite in the zinc anomalous zone occurs in widely scattered layers from two millimetres to 40 mm thick. These layers are deposited parallel to bedding in the sediments and parallel to foliation in the phyllite unit. Sphalerite with associated chlorite, sericite, carbonate and quartz occurs in widely dispersed hairline fractures throughout the zinc anomalous zone. The sphalerite found in the zinc anomalous horizon may represent mineralization peripheral to a sedex massive sulphide deposit that has been caught up, displaced and distorted, by folding, foliation and brecciation produced by the Moyie fault.

"This latest drilling has intersected some of the best anomalous zinc mineralization to date," states John Keating, president and chief executive officer. "The new geological information and additional geophysics is being compiled to guide the location of the next drill holes as we continue to vector into the source of the large gravity geophysical anomaly that may be associated with a dense massive sulphide deposit."

Zinger property update

As announced in January, heavy mineral separation of two soil samples recovered 898 grains and 256 grains of gold, respectively on the Zinger property.

The gold grains were extracted from the soil samples by heavy mineral separation performed at CF Mineral Laboratories in Kelowna, B.C. The approximately four-kilogram (dry weight) samples were taken seven metres apart. Gold grain morphology suggests that the grains have not travelled far. Gold grains are being further analyzed by scanning electron microscope to help assess the source of the gold. Results of this work are pending and will be announced in the near future.

The foregoing geological disclosure has been reviewed by Dave Pighin, PGeo, and John Keating, PGeo (qualified persons for the purpose of National Instrument 43-101 -- standards of disclosure for mineral projects). Mr. Pighin is the project manager for 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. PJX's primary properties are located in the historical mining area of Cranbrook and Kimberley, B.C.

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