PJX Resources' Copper-Gold-Silver Mineralization in Sullivan Mining District and DD Property Update
TSX VENTURE: PJX.V
OTCQB: PJXRF
PJX Resources' Copper-Gold-Silver Mineralization in Sullivan Mining District and DD
Property Update
TORONTO, ONTARIO – February 27, 2023 – PJX Resources Inc. (“PJX” ) has discovered a locally mineralized diatreme
breccia located approximately 500 metres west of the intrusive related gold -silver-copper prospect announced in
news release dated Nov. 15, 2022 . Part of the breccia margin is flooded with quartz, and locally contains high copper
values; three grab samples from the margin of the breccia analyzed 8 .79 %, 3 .35 %, and 2.01% copper. This new
discovery is about 500 metres west of the cluster of intrusive stocks and dykes that are associated with a variety of
breccias and the historical Estella mine (zinc-lead-silver vein) in the Sullivan Mining District and the Vulcan Gold Belt
in southeastern British Columbia, Canada.
Gold, silver, and copper mineralization occur in multi-phased, variably altered, and veined syenit ic/alkalic porphyritic
intrusions. The intrusive pha ses locally contain disseminated sulphides (see photo A). For example, g rab sample
MS22-57 with quartz veining from this phase analyzed 6.9 g/t gold, 447 g/t silver and 1.108% copper (see Fig 1)
The diatreme breccia (photo B) locally has magnetite as the matrix (photo C) with quartz flooding occurring along the
margin (photo D) . Three grab samples from quartz vein flooding in the brecciated gabbro fro m the margin area
contained copper, silver, and anomalous gold, zinc, nickel, and cobalt (see table 1 and photo D).
Sample
Number
Copper ** Silver * Gold * Zinc * Nickel * Cobalt * Iron * Sulfur *
% PPM PPB PPM PPM PPM % %
DT-22-65 2.018 7.2 32.6 36 31 20.8 4.68 1.93
DT-22-66 3.352 2.5 264 100 55.1 92.3 8.38 1.88
DT-22-67 8.791 20.6 111.9 5541 55.8 34.1 11.67 4.75
Notes: 1000 ppb = 1 ppm = 1 g/t
10,000 ppm = 1%
*Analysis by Aqua Regia digestion with a Mass Spectrometry (MS) finish.
**Analyses exceeding the analytical limit of MS finish were re -analyzed by
Emission Spectrometry (ES) to provide the precise ppm or % value.
Table 1 – Rock grab samples of quartz veining with chalcopyrite and/or malachite (copper mine ralization) in an irregular
brecciaed gabbro on the margin of the diatreme breccia.
John Keating, President of PJX commented: “Geological, geophysical and mineralogical data support the potential for
discovery of a large , mineralized magmatic centre on the Dewdney Trail Property. Intrusive related copper -gold-
silver-molybdenum deposits, such as the Butte Mining District in Montana, are associated with such centers.”
Figure 1 – Estella Basin Geology with rock grab sample gold analyses from alkalic (syenite) intrusions. The location of a
diatreme breccia and photos A to E are also shown.
Photo A – Altered S yenite/Alkalic P orphyry with disseminated sulphides in the matrix. Rock grab sample MS22 -57 of this
porphyry phase with quartz veins analyzed 6.9 g/t gold, 447 g/t silver and 1.108% copper.
Photo B – Diatreme breccia with round to elongated rock fragments (clasts) aligned in the same orientation.
Photo C – Diatreme Breccia with magnetite (black mineral) matrix.
Photo D – Puzzle or jigsaw in appearance b reccia with quartz veining cutting a gabbro si ll on margin of diatreme. Grab samples
of malachite and/or chalcopyrite with veining analyzed 8.7%, 3.3%, and 2.0% copper.
Photo E - View Looking east-northeast, approximate location of view is shown on Fig 1. Location of rock grab sample MS22 -57
is shown as a reference for samp le locations shown in Fig 1. Approximate positions of intrusive contacts are shown by dashed
white lines. Only part of the top of the intrusions have been exposed by erosion.
Geological Significance
• Gold, silver, and copper mineralization occur with quartz veins and variably altered alkalic intrusives.
• Erosion has only exposed part of the tops of the intrusives (see photo E). Therefore, there is potential for
deposits to occur near surface and at depth as they would not have been eroded.
• Intrusives occur as a cluster for at least 600 metres along strike.
• Figure 2 displays the re lative loc ations of photos A, B, C , and D in relati on to a ge ological model for calc-
alkalic intrusive related copper-gold-silver-molybdenum systems. Alkalic intrusions at the Estella Basin have
characteristics that are simila r, such as copper -gold-silver mineralization at the top of the system and the
presence of diatreme breccias.
Figure 2 – This is a p orphyry copper calc-alkalic intrusive model by Richard Sillitoe (2010). The alkalic intrusive type system at
the Estella Basin has a number of similar characteristics, such as gold-silver and copper m ineralization at the top of the system
and the presence of diatreme breccias. Photos A, B, C and D are displayed in possible relative positions within the model.
Additional information relating to geophysics and the po tential at depth are pending along with an assessment of drill
results from drilling on the Lewis Ridge a irborne EM (using MobileMT technology) and magnetic target approximately
3 km to the north of the Estella Basin intrusive related mineralisation.
DD-NZOU-Moby Dick Property Update
DLP Resources Inc. (“DLP”) has notified PJX of their intention to return the DD Pr operty to PJX effective February 24,
2023. DLP had an option to earn up to a 75% interest in the DD Property. Unfortunately, the last hole drilled, in May
2022 on the Moby Dick Pro perty, was not completed as it became stuck i n a fault at about 1 300 metres deep before
it could test a Magnetotelluric (MT) geophysical anomaly at a target depth of a bout 1700m. Additional MT
anomalies at target depths of about 1700 metres occur on the DD , Moby Dick and NZOU properties. PJX Resources
retains a 100% interest in the DD Property. PJX has a 50% interest in Moby Dick Property with the right to earn a
50% interest in the NZOU Property which are both adjacent to the DD Property. DLP has indicated that they will now
focus on the Sullivan-type Zn-Pb-Ag targets on the Moby Dick and NZOU properties.
Qualified Persons
The foregoing geological disclosure has been reviewed and ap proved by John Keating P.Geo. (qualified persons for
the purpose of National Instrument 43 -101 Standard s of Disclos ure for Mineral Projects). Mr. Keati ng 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 th e
exploration and development of mineral resources with a focus on gold, silver and base metals (zinc, lead, copp er,
nickel). PJX’s prima ry propert ies ar e located in the histor ical 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
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 "for ward-looking statements", constitute "f orward-looking statements" un der the provisions of Canadian pr ovincial 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 numb er of factors and assumptions that, while considere d r easonable by PJ X
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
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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 co ntain information about adjacent properties on which PJX Resources Inc. has no r ight to expl ore 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 m ineral deposits on our properties. This news releas e 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 t herefore in volve i nherent risks and uncertainties. Actual results may diff er materially from those currently
anticipated in such statements.
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It cannot be assumed that all or an y part of an Inferred Mineral Resource will ever be upgraded to a higher categor y. Under Can adian
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cautioned not to a ssume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves.
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