Toronto, Ontario (FSCwire) - PJX Resources Inc. (“PJX”) is pleased to
announce that Teck Resources Limited (Teck) has received the necessary permits to drill PJX’s DD Property. Drilling is
planned to commence later this month, subject to potential backcountry restrictions in light of current forest fire hazards in
British Columbia, and be carried out into the Fall.
“Historical drilling adjacent to the DD Property defined geological and geochemical vectors for a potential
Sullivan-type system, which increase toward the DD Property,” states Dave Pighin, PGeo for PJX Resources. “The
Sullivan deposit occurs at a geological time called the Sullivan Horizon. The thickness, alteration and anomalous zinc-lead
concentrations of the Sullivan Horizon progressively increases in intensity the closer holes are drilled to the DD
Property. A similar increase in thickness, alteration and anomalous zinc-lead concentrations in the Sullivan Horizon occurs
in proximity to the Sullivan Deposit.”
“The Magnetotelluric (MT) geophysical survey carried out by Quantec Geoscience on the DD Property has defined an MT
anomaly that appears to coincide with the anticipated depth of the favourable Sullivan Horizon,” states the President and CEO of
PJX, John Keating. “The Sullivan deposit contained iron sulphides that could be detected by an MT survey and cause an MT
anomaly. The MT anomaly on the DD Property occurs on two widely spaced lines, 700 metres apart, and is open to the north
and south. The DD Property MT anomaly is at a depth and a size that supports the potential for a Sullivan Type target.”
PJX has granted Teck an option to earn up to a 75% interest in the DD Property (see March 5, 2018 press release for
more details.).
The road-accessible DD Property is located approximately 120 km east of Teck’s Metallurgical Complex in Trail, BC
and about 45 kilometres south of the Sullivan Mine, which operated for over 90 years before being closed in 2001.
The foregoing geological disclosure has been reviewed 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 DD and Vine Properties. Mr. Keating is the President, Chief Executive Officer and a
Director of PJX.
The Company's board of directors has authorized granting stock purchase options to certain directors, employees and
consultants to acquire an aggregate of 1,925,000 common shares at an exercise price of $0.25, expiring August 19, 2023. The
foregoing is subject to regulatory acceptance.
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 and base metals. PJX’s properties are located in the
historical mining area of Cranbrook and Kimberley, British Columbia. Please refer to our web site http://www.pjxresources.com for additional information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer
(416) 799-9205
info@pjxresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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", “appears to”, "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.
Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements.
To view the original release, please click here
Source: PJX Resources Inc. (TSX Venture:PJX)
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