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PJX Resources Inc

Exchange: TSXV Exchange | Jun 22, 2017, 7:52 AM EDT

PJX
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Exploration Update




Exploration Update



Toronto, Ontario (FSCwire) - PJX Resources Inc. (“PJX” or “the Company”) is pleased to announce that drilling on the Vine Property’s large east gravity anomaly has outlined a zone of anomalous zinc mineralization that is at least 550 meters long and has a true thickness of 100.0 meters. 

 

“In my 50 years of experience exploring for a Sullivan deposit I have never seen this style and broad extent of anomalous zinc mineralization”, states Dave Pighin, PGeo for the Vine Project.  “Drilling also supports that the zinc mineralization occurs in a restricted basin where one would expect to discover a massive sulphide deposit like the Sullivan.”

 

The zinc mineralization, in the form of a mineral called sphalerite, occurs in the upper part of a phyllite rock unit and in the adjacent Lower Aldridge sediments.  The phyllite unit has a true thickness of 100.0 meters and forms part of the structural complex that is The Moyie Fault Zone.  Sphalerite in the zinc anomalous zone occurs in widely scattered layers from 2mm to 40 mm thick.  These layers are deposited parallel to bedding in the sediments and parallel to foliation in the phyllite unit.  Sphalerite with associated chlorite, sericite, carbonate and quartz occur in widely dispersed hair line fractures throughout the zinc anomalous zone. The sphalerite found in the zinc anomalous horizon may represent mineralization peripheral to a Sedex massive sulphide deposit that has been caught up, displaced, and distorted, by folding, foliation and brecciation produced by the Moyie Fault. 

 

“This latest drilling has intersected some of the best anomalous zinc mineralization to date”, states John Keating, President and CEO.  “The new geological information and additional geophysics is being compiled to guide the location of the next drill holes as we continue to vector into the source of the large gravity geophysical anomaly that may be associated with a dense massive sulphide deposit.”

 

Zinger Property Update

 

As announced in January, heavy mineral separation of 2 soil samples recovered 898 grains and 256 grains of gold, respectively on the Zinger Property. 

 

The gold grains were extracted from the soil samples by heavy mineral separation performed at CF Mineral Laboratories in Kelowna, British Columbia.  The approximately 4 kilogram (dry weight) samples were taken 7 metres apart.  Gold grain morphology suggests that the grains have not travelled far.  Gold grains are being further analysed by Scanning Electron Microscope to help assess the source of the gold.  Results of this work are pending and will be announced in the near future. 

 

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 Project Manager for the Vine Property.  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. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.  

Please refer to our web site https://www.pjxresources.com for additional information.

 

FOR FURTHER INFORMATION PLEASE CONTACT:

Linda Brennan, Chief Financial Officer
(416) 799-9205

info@pjxresources.com  

 

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.

 

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.

 

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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/pjxresources03022017.pdf

Source: PJX Resources Inc. (TSX Venture:PJX)

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