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Drilling Continues to Support Potential for Massive Sulphide Body on PJX Resources' Vine Property

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TORONTO, ON / ACCESSWIRE / April 2, 2019 / PJX Resources Inc. ("PJX") is pleased to announce that the first hole to test the large Magnetotelluric (MT) geophysical target at depth has intersected localized tourmaline alteration for the first time on the Vine Property. This style of alteration can be found in proximity to the Sullivan deposit that is located approximately 35 km north of the Vine Property near Cranbrook, British Columbia, Canada.

Drilling to test the shallow target intersected a narrow massive sulphide vein that management believes could represent re-mobilized mineralization from a massive sulphide body at depth. Laboratory analysis of the massive sulphide part of the vein, excluding wall rock, grades 3.73% lead, 1.97% zinc, 23.37 g/t silver with anomalous gold (0.05 g/t) and copper (.08%).

Highlights

  • Magnetotelluric (MT) geophysics has identified a shallow and larger deep conductive MT targets that could be identifying multiple massive sulphide bodies.

  • Drilling the shallow MT target intersected a narrow massive sulphide vein. The vein is conductive and is considered to be proof of concept that MT is identifying massive sulphide mineralization and not another source of conductivity, such as graphite.

  • Massive sulphide vein has milled-rolled texture (see photo http://pjxresources.com/vine-massive-sulphide-core.pdf). Milled texture suggests tectonic remobilization and deformation, possibly similar to "Durchbewegung" texture of some sulphide sections found at the Sullivan deposit. (Durchbewegung texture is typically created by movement of massive sulphides during deformation with milling and rotational movement of more competent rocks or minerals incorporated into the sulphide.)

  • Massive Sulphide Vein contains zinc, lead, silver with anomalous gold and copper. Vein could be remobilized sulphide from a deposit at depth.

  • First hole to test larger MT target at depth has intersected geology with localized tourmaline alteration for the first time. Tourmaline is an alteration found in and proximal to the Sullivan Deposit.

  • Large MT target has potential to host multiple massive sulphide bodies. Target has an 800 metre (m) strike length and can be traced down dip for over 2,000 metres.

  • Down hole geophysics is planned to help identify the conductive source or sources of the MT targets (possible massive sulphide) to direct the next phase of drilling.

"Tourmaline and tourmalinite occur locally within metamorphosed phyllite and un-metamorphosed blocks of sediments in the folded attenuation zone above the regional Moyie fault," states Dave Pighin. "Tourmaline and tourmalinite can be found around and within the Sullivan deposit. Seeing this style of alteration supports that the drilling may be getting closer to a massive sulphide body. The hole is at 1488 m depth and still in phyllite. Down hole geophysics is planned to assess if the hole should be deepened or if the source of the large MT target, which could represent massive sulphide mineralization, is adjacent to the large blocks of unmetamorphosed rock within the folded attenuation zone."

"Having both tourmaline alteration at depth and zinc, lead, silver with anomalous gold and copper mineralization in the massive sulphide vein is very encouraging," states John Keating. "If the massive sulphide portion of the vein represents remobilized mineralization from a massive sulphide deposit at depth then this supports that the larger target at depth would not be just iron sulphide but could also contain lead, zinc, silver, copper, and gold. In addition, drilling from 2015 to 2017 intersected disseminated and bands of sphalerite (zinc) mineralization locally in the metamorphosed phyllite up-dip from the large MT target at depth."

Results of down hole geophysics will be compiled with the new understanding of the geology to prepare for the next phase of drilling that is planned to commence in May.

The road-accessible Vine Property is located approximately 140 km east of the Trail Metallurgical Complex and about 35 kilometres south of the historical 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.

The foregoing geological disclosure has been reviewed and approved 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 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 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.



View source version on accesswire.com:
https://www.accesswire.com/540740/Drilling-Continues-to-Support-Potential-for-Massive-Sulphide-Body-on-PJX-Resources-Vine-Property