Drilling Intersects Possible Feeder Zone to a Potential Massive Sulphide Body on PJX Resources’ Vine Property

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following two offers if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
10-day money back guarantee*
JOIN THE CLUB
Canadian Insider Ad-Free
$49/ year*
All benefits of basic registration
No 3rd party display ads
10-day money back guarantee*
GO AD-FREE

* Price is subject to applicable taxes. Money back guarantee: For bona fide Ad-Free or Canadian Insider Club subscribers, if you downgrade to Basic or cancel with-in 10 days of first subscribing, we will refund your payment upon request. Immediately after downgrading or cancelling, using the same email that is associated with your account, request a refund via our Contact Us form at the bottom of the page. We will only consider one refund request per household or organization. We cannot accommodate refund requests where an account holder has not provided verifiable address and billing information.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Drilling Intersects Possible Feeder Zone to a Potential Massive Sulphide Body on PJX Resources’ Vine Property



Toronto, Ontario (FSCwire) - PJX Resources Inc. (“PJX” or “the Company) is pleased to announce that drilling on the Vine Property’s East Gravity anomaly has defined an extensive target horizon with potential to host a massive sulphide body containing zinc, lead and/or copper.

 

“Recent drilling has intersected massive iron sulphide (pyrite, pyrrhotite) veins within a thick and extensive alteration zone that may be a feeder system to a potential massive sulphide body at the East Gravity anomaly,” states Dave Pighin, PGeo for PJX Resources.  “For comparison, there is a thick extensive tourmaline alteration zone with massive iron sulphide veins as a feeder zone beneath the Sullivan deposit.  The East Gravity alteration zone is over 700 metres (m) long and upto 180 m thick.  This is similar in size and thickness to the Sullivan alteration zone but has a silica and sericite rich composition instead of tourmaline.  There is a 5 metre (m) thick chlorite rich zone with abundant iron sulphides and localized disseminated sphalerite (zinc-iron sulphide) and chalcopyrite (copper-iron sulphide) mineralization in phyllite above the alteration zone.  This chlorite rich zone is a favourable target horizon with potential to host a massive sulphide body.”

 

“Three dimensional (3D) modelling of geophysics by Quantec Geoscience has identified a gravity anomaly that is coincident with a two dimensional (2D) Magnetotelluric (MT) anomaly.” states the President and CEO of PJX, John Keating.  “The anomalies start at about 400m below surface and extend to depth.  Recent holes drilled to test the shallowest part of the geophysical target have intersected disseminated zinc with lesser lead and copper mineralization in the chlorite rich target zone.   This mineralization is not sufficient to cause the gravity anomaly.  Therefore, it appears that we may have intersected peripheral aleration and mineralization to a more dense massive sulphide body that could cause a gravity anomaly.   Additional geophysics and drilling are planned to test this new target area down dip and on strike.”

 

The road-accessible Vine Property is located approximately 140 km east of Teck’s Metallurgical Complex and about 35 kilometres south of the Sullivan Mine, which operated for over 90 years before being closed in 2001.   The property is at an elevation with terrain amenable to drill at any time of the year.  It is crossed by two power lines as well as a rail line and is only a 20 minute drive south along Highway 3 from Cranbrook, British Columbia.

 

Vine Geology, Alteration and Mineralization

 

The 150 to 180 metre (m) thick East Gravity breccia zone with intense silica and sericite alteration occurs along the Moyie Fault.  The zone is at least 400 m wide and over 700m long and is locally cut by massive iron sulphide veins.  

 

The altered breccia zone is overlain by a 100 to 150m thick phyllite unit. Near the base of this unit is a 5 m thick zone of strong chlorite alteration with abundant disseminated iron sulphide (pyrite, pyrrhotite) and localized disseminated zinc (sphalerite) and copper (chalcopyrite) mineralization.

Sediments that overly the phyllite zone are generally strongly silicified and chloritic.  They locally contain disseminated sphalerite or massive sphalerite in veins and veinlets.

 

Right-lateral thrust movement along the Moyie fault has separated, folded and moved part of the phyllite unit for over one kilometer along a secondary fault (Hogg fault) to the north of the north-east striking Moyie fault breccia zone.  The large East Gravity anomaly occurs within this faulted block. 

 

Other Properties

 

As previously announced (see release dated August 20, 2018), Teck Resources Limited has received the necessary permits to drill PJX’s DD Property.  Drilling is planned to commence this month and be carried out into the Fall.  Exploration work on the Zinger, Eddy, and Dewdney Trail Properties has continued through the summer and results will be announced when information is available. 

 

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.

 

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.







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

To follow PJX Resources Inc. on your favorite social media platform or financial websites, please click on the icons below.


 

Maximum News Dissemination by FSCwire. https://www.fscwire.com

 
 

Copyright © 2018 FSCwire





Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).