PJX Resources Commences 2023 Exploration With Discovery of New Iron-Oxide Zone That Expands Copper-Gold-Silver Potential on Dewdney Trail Property
TORONTO, June 29, 2023 - PJX Resources Inc. ("PJX" or "the Company") is pleased to announce that field work on the Dewdney Trail Property has begun in preparation to advance and drill test copper-gold-silver mineralization associated with alkalic porphyritic intrusions discovered last year. Recent prospecting has discovered an additional iron-oxide breccia zone with localized copper mineralization. This new zone is approximately 1500 m southeast of a series of stacked bedding parallel quartz veins that contain up to 63 g/t gold. The new zone expands the potential to discover multiple gold-copper-silver and possible molybdenum deposits related to porphyry intrusions. The zone is approximately 3 km southwest of the Estella Basin where a cluster of intrusions and hydrothermal breccias occur with anomalous gold, copper, silver, molybdenum, arsenic and other elements in soils and rock samples. The zone may also be related to a large (5 km diameter) circular shaped feature defined by an 895 line-km airborne magnetic and Mobile MT (EM) survey flown by Expert Geophysics for PJX over an 80 km² area. The Estella Basin and new breccia zone occur proximal to the rim of the circular feature that may reflect the margin of a collapsed pluton at depth. Porphyry copper-gold deposits are known to occur along the margin of plutons.
"It is exciting to find large areas with mineralization at surface that support the potential to discover new world class deposits with critical minerals in an existing mining district with infrastructure." states John Keating, President of PJX. "Far too often we explorers tend to search for deposits in remote regions and/or foreign countries when the potential is right under our nose in our own backyard and can be more easily identified when land positions are consolidated. We plan to drill to test the porphyry intrusions and continue to expand the potential through surface exploration on the Dewdney Trail Property this year. We have also dropped the option on the NZOU Property to focus resources on the Dewdney Trail Property. PJX continues to own 100% of the mineral rights to the large DD Property that is adjacent to and on strike with the NZOU Property."
Corporate Update
The Annual General and Special Meeting of the Company was held on June 20, 2023. The Shareholders of record:
- approved the December 31, 2022, Audited Financial Statements;
- set the number of directors of the Company at six and re-elected directors John Keating, Linda Brennan, James Clare, Joseph Del Campo, Trygve Hoy, and Victor Bradley;
- appointed McGovern Hurley LLP as Auditors of the Company for the ensuing year; and
- approved the Company's Share Incentive Plan.
"We would like to thank the Director's for standing for re-election and look forward to working with shareholders to explore and discover deposits of critical and other metals essential to society today and in the future", states John Keating.
Qualified Person
The foregoing geological disclosure has been reviewed and approved by John Keating P.Geo. (qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). 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, nickel). PJX's 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
info@pjxresources.com
Cautionary Note Regarding Forward-Looking Information
The information in this news release has been prepared as at the date noted above. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by PJX Resources Inc. as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, PJX Resources Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in PJX Resources Inc.'s expectations or any change in events, conditions or circumstances on which any such statement is based.
Cautionary Note to US Investors:
This news release may contain information about adjacent properties on which PJX Resources Inc. has no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
This press release uses the terms "Measured", "Indicated", and "Inferred" resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable.
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.
SOURCE: PJX Resources Inc.