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Jaxon Mining Inc
Symbol JAX
Shares Issued 65,400,460
Close 2017-09-19 C$ 0.305
Market Cap C$ 19,947,140
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Jaxon Mining samples up to 8,952 g/t Ag at Hazelton

2017-09-19 06:11 ET - News Release

Mr. Jason Cubitt reports

JAXON MINING INC.: NEW HIGH GRADE SILVER AND GOLD ZONES DISCOVERED AT HAZELTON

Jaxon Mining Inc. has continued to identify high-grade samples and significant extensions to the known mineralization at the Max target on Jaxon's Hazelton project in central British Columbia, including the highest silver assay value ever encountered in this year's program:

  • A float sample grading 8,952 grams per tonne silver (highest value this season), along with 2.64 g/t gold, 3.57 per cent zinc, 7.89 per cent lead and greater than 5 per cent antimony;
  • An important rhyolite sample grading 1,221 g/t silver, 1.80 g/t gold, 4.34 per cent zinc, 5.05 per cent lead and 4.53 per cent antimony.

Starting from the lowest elevations at the Max target, a new mineralized exposure has been discovered 800 metres to the northwest of the 550 zone. Named the 560 zone, the new exposure consists of bleached volcanics, mudstone and altered sediments. A grab sample from this exposure assayed 1,221 g/t silver, 1.80 g/t gold, 4.34 per cent zinc, 5.05 per cent lead and 4.53 per cent antimony. This semi-massive sulphide-bearing rhyolite sample is important due to its possible affinity to a shallow marine style volcanogenic massive sulphide (VMS) deposit setting. This grade is similar to those reported from channel samples in several Max trenches distributed along the slope between the 550 zone and the 742 zone (742-metre elevation) (see Jaxon news release dated Aug. 9, 2017) and is indicative of silver sulphosalt enrichment.

Moving up-slope, approximately 150 metres to the southwest from the high-grade silver exposures at the 742 zone (which returned values including 1,006 g/t silver over a one-metre channel sample, announced Aug. 9, 2017), a large angular float massive sulphide sample was located in a new slide area. This exposure returned the highest silver values from Jaxon sampling to date, assaying 8,952 g/t silver, 2.64 g/t gold, 3.57 per cent zinc, 7.89 per cent lead and greater than 5 per cent antimony.

Four hundred twenty metres farther up-slope, at an elevation of 1,049 metres, a sulphide-rich siliceous vein was located, which assayed 1,018 g/t silver, 18.7 per cent zinc, 27.9 per cent lead and greater than 5 per cent antimony.

Bruce Ballantyne, Jaxon's project manager, stated: "Jaxon is very appreciative of the professional prospecting work completed this year by its team. The Max target in the northeast corner of the 39,000-hectare Hazelton project has been considerably expanded in its area potential, while the recently announced CRT and RS high-grade gold-tellurium discovery 17 kilometres to the south is equally important in establishing the Hazelton district's opportunity for new discovery."

Technical information in this news release has been reviewed and approved by Case Lewis, PGeo, a qualified person as defined in National Instrument 43-101. This property has not been the subject of a National Instrument 43-101 report.

About Jaxon Mining Inc.

Jaxon Mining is a base and precious metals exploration company with a regional focus on Western Canada. The company is currently focused on advancing its Hazelton project in north-central British Columbia and the More Creek project (comprising the Wishbone and Foremore properties) in B.C.'s Golden Triangle.

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