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Enter Symbol
or Name
USA
CA



Jaxon Minerals Inc (2)
Symbol JAX
Shares Issued 29,342,195
Close 2017-05-04 C$ 0.15
Market Cap C$ 4,401,329
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Jaxon acquires additional 24,000 hectares at Hazelton

2017-05-04 13:00 ET - News Release

Mr. Jason Cubitt reports

JAXON TO DRILL THE HAZELTON PROPERTY

Jaxon Minerals Inc. is providing the following update on corporate activities.

The Hazelton property

Jaxon continues to further its understanding of the company's 100-per-cent-owned-and-optioned precious metals-rich volcanogenic massive sulphide (VMS) project, located 50 kilometres north of Smithers, B.C., in the Skeena Arch.

A systematic review of regional data, including geological mapping, stream sediment surveys and historical work from prior operators, confirms Jaxon's interpretation that the property is hosted by Skeena group rock formations. Jaxon's newly recognized region is prospective for the famous Equity silver mine, and the epithermal VMS Eskay Creek-style shallow marine volcanic styles of high-grade base metals and bonanza grades of silver and gold.

On the basis of this reinterpretation by Jaxon, the company is pleased to announce that it has acquired, through staking, an additional 100-per-cent-owned 24,000 hectares of ground contiguous to its previously held ground at the Max and Knoll mineral occurrences. Jaxon's property, now referred to as the Hazelton property, now covers over 28,000 hectares.

Upcoming field program

The company has filed a notice of work application with the B.C. Ministry of Mines for a spring/summer 2017 work program, including allowance for mechanical trenching, induced polarization surveys and exploration drilling. Data from the previously flown 464-line-kilometre airborne versatile time-domain electromagnetic and magnetic helicopter survey are being modelled and evaluated by expert geophysical contractors. Anomalous geochemical survey and geophysical targets will be followed up during the program. Jaxon's experienced field crews are expected to be mobilized to its base in Hazelton by the end of May to begin rehabilitation of roads, trails and the numerous historic sulphide mineralized exposures. More detail will be provided on upcoming work as budget and logistics are further defined.

This news release has been reviewed by Glen Macdonald, PGeo (a qualified person for the purpose of National Instrument 43-101, standards and disclosure for mineral projects).

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