TORONTO, ON / ACCESSWIRE / May 11, 2021 / PJX Resources Inc. ("PJX" or the "Company") is pleased to announce a possible source of massive sulphide mineralization intersected in 2 widely spaced holes VA19-48, drilled in 2019, and pre-PJX hole KV90-41 drilled in 1990 on the PJX's Vine Property. The 2 holes are about 700 metres apart. They both intersected massive sulphide mineralization that appears to be similar in style to mineralization that occurs proximal to the Sullivan zinc-lead-silver deposit located 35 km north of the property.
Highlights
- The historical Sullivan deposit has a central vent with zinc and lead mineralization proximal to the vent.
- Tourmaline is a boron based alteration mineral that occurs in and around the Sullivan vent.
- Biogeochem sampling of trees during 2020 identified a boron geochem anomaly (Figure 1 below).
- Biogeochem survey also identified a large zinc/zinc+lead anomalous area proximal to the boron anomaly (Figure 2 below).
- Biogeochem survey may have identified a possible vent at depth that could be the source of what appears to be a New Massive Sulphide (NMS) horizon intersected in PJX's 2019 drill hole (VA19-48) and the Pre-PJX drill hole KV90-41.
- PJX plans to drill a preliminary hole in the coming months to test the potential for a vent with proximal zinc-lead-silver massive sulphide mineralization along the projected extension of the NMS horizon in the vicinity of the boron anomaly.
"The Vine Vein is a surface showing with zinc, lead, copper, gold, and silver" states Mr. John Keating, President and CEO of PJX Resources. "In the 1980's Cominco believed that massive sulphide mineralization in the Vine vein (Figure 3 below) may have been remobilized from a Sullivan type deposit at depth. Cominco drilled holes to 500 m deep at the Vine vein but did not intersect a Sullivan type deposit. The pre-PJX 1990 hole and PJX's 2019 hole intersected the NMS massive sulphide mineralization 300 m deeper than the geological horizon Cominco tested. There have only been a few holes drilled deep enough to test the NMS horizon. We believe there is substantial untested potential to discover a massive sulphide deposit across the Vine Property. Biogeochem sampling may be a good tool to help unlock that potential."
Figure 3
Corporate Update
The Company announces that Mr. Kent Pearson has resigned as a Director of the Company. Kent has been a director with the Company since March, 2011. During his tenure Kent was instrumental in helping to build the Company and broaden its network. The Board would like to thank Kent for his efforts and support. The Board wishes him success in his future endeavors.
Qualified Persons
The foregoing geological disclosure has been reviewed and approved by Dave Pighin, P.Geo., and John Keating P.Geo. (qualified persons for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Pighin is the consulting geologist for PJX on the Vine Property and was responsible for managing historical drilling undertaken by Kokanee Exploration in the 1990's. 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). 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
(416) 799-9205
[email protected]
Forward-Looking Information
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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SOURCE: PJX Resources Inc.