upcoming drilling PJX Resources Inc is down 10.7% at $0.25 as the market frets that British Columbia's forest fires will steal a drilling season delayed by two months courtesy of BC's consultation merry-go-round. Fires are becoming a big problem in British Columbia and there is an out of control fire burning about 20 km east of the Dewdney Trail SEDEX target where PJX is currently building drill pads on the mountain slope. PJX was supposed to be drilling by now but the extra requirement to do a sweep of the drilling area for endangered species prompted the drill pad crew to take on another job. The fires tend to follow mountain valleys which generally run north-south and this fire is three valleys to the east so it would have to become a monster to reach the target area. Of course a new fire could start locally but the target area has the advantage of having been torched a couple years ago. The market is nervous because until we hear drilling has started the junior is not in a position to deliver a discovery. CEO John Keating says he expected drilling to be underway next week but will not put out a news release. He will also refrain from putting out news about intersection visuals before he has assays for at least one good hole. The hope is that they intersect a zinc-lead-silver enriched exhalative style massive sulphide horizon within the sedimentary layer cake, but they are nervous about what other syenite dykes may have intruded the layer cake and disrupted continuity. Folding is also present whose nature they will not fully understand until they have several holes into the stratigraphy. So he is reluctant to do any early arm-waving though the bars in Cranbrook might be a good source of intelligence about what is happening in the field. He did say that if they hit the right stuff they will send it for rush assays, but even this means we will not learn anything until September.
Kaiser research