Jaxon Minin Inc. (
TSX: V.JAX,
OTCQB: JXMNF,
Forum) today announced a new strategic investment from Zijin Midas Exploration Fund, a subsidiary of Zijin Mining Group Co. Ltd. Along with “certain other investors”, Zijin is acquiring up to 5,625,000 flow-through shares. Units are priced at $0.32, for gross proceeds of up to $1.8 million.
Proceeds of the placement will contribute toward funding for Jaxon’s Fall/Winter 207 drill program at its Hazelton silver-zinc CMS target. The Hazelton Project is located in B.C.’s Skeena Arch district, an area known for prolific mineralization.
The Company’s CEO is reporting that Jaxon is presently mobilizing for its Phase 1 drill program. Further information can be found
here.
Jaxon Mining was recently in the news earlier this month when it reported a
large IP anomaly below recent high-grade sampling.
FULL DISCLOSURE: Jaxon Mining Inc. is a paid client of Stockhouse Publishing.