PJX Resources – Sullivan Mining District - Intrusive Related GOLD, Copper, Cobalt Target Identified ON the EDDY Property
TSX VENTURE: PJX.V
OTCQB: PJXRF
PJX RESOURCES – SULLIVAN MINING DISTRICT - INTRUSIVE RELATED
GOLD, COPPER, COBALT TARGET IDENTIFIED ON THE EDDY PROPERTY
Toronto, Ontario – November 22, 2021 – PJX Resources Inc. (“PJX” or the “Company”) is pleased to
announce that compilation of hist orical data and recen t work have i dentified gold, copper, and
cobalt mineralized zones above what may be a series of intrusives at depth on its Eddy Property .
The 4km by 5km target area has potential to h ost intrusive related copper, gold, and cobalt type
deposits as well as orogenic type gold d eposits. P ossible intrusives at depth are defined by ring
shaped features identified by an airborne magnetic survey flown for PJX.
This new target area , called the Wuho Creek target, occurs on the northern part of PJX ’s Eddy
Property located in the Vulcan Gold Belt of the Sullivan Mining District nea r Cranbrook,
southeastern British Columbia, Canada.
Copper, silver, co balt and gold mineralization in a 2007 drill hole in con junction w ith iron-oxide
breccia outcrops with gold mineralization, cobalt in stream sediments , and large clay altered areas
at surface support the potential to also discover a possible IOCG (Iron -Oxide-Copper-Gold) type
deposit at depth. The Olympic Dam mine, in Australia, is an example of an IOCG type deposit.
Highlights
• Historical hole (Z-07-01) drilled in 2007 by previous explorers on the Zeus zone in the Wuho
target area intersected 10m of 1.23% copper within a broader 57m (116-173m) interval of
0.60% Co pper, 3.8 g/t silver, 87 g/t bismuth, 36 ppb gold, 64 ppb cobalt . (see photo A
below).
• Copper, silver, cobalt and gold mineralization occur within tectonized and intensely altered
sediments with quartz, albite , abundant pyrite, and local chalcopyrite from 69.8-219.4m in
hole Z-07-01.
• Highest gold (517.1ppb) and cobalt (266.4ppm) as an individual analysis was from 218.5 to
219.4m.
• VTEM airborne magnetic survey flown for PJX has identified ring shaped features that may
represent ring structures formed by collapsed intrusives at depth. (Figure 1 below)
• Large mineralizing systems that form large deposits can occur where multiple phases of
intrusives have collapsed at depth and release fluids and gas that transport gold, copper and
other elements which can become trapped in the top of the intrusive or proximal country
rocks and form deposits.
• One large primary ring feature (approximately 4 km diameter) appears to be disrupted by a
secondary ring feature (approximately 1.5 km diameter).
• Within and peripheral to the primary ring feature is additional evidence in support of a large
mineralizing system that could form gold, copper and cobalt deposits. (Figure 2 below)
o Rock grab sample of the Coronation iron-oxide breccia taken by prospectors working
with PJX analyzed 7 g/t gold.
o Five of ten historical rock grab samples by prospectors of the Big iron-oxide breccia
returned va lues r anging from 40 to 6 33 ppb gold with a sixth sa mple analyzing
13,650 ppb (13.65 g/t) gold.
o Historical heavy stream samples with over 200ppm cobalt occur in Wuho Creek.
o Gold and iron-oxide occurrences are found along major structures (Palmer Bar and
Baldy faults) on t he margins of the ring features. These structures provide
additional pathways for gold, copper, silver, and cobalt mineralizing fluids.
o Large clay altered zones suggest areas where fluids have passed through the rocks
from a possible mineralizing system at depth.
• Multiple ring features/structures support potential for multiple phases of intrusives that can
be beneficial in increasing and focusing fluids to form gold and copper deposits.
• Zeus zone occurs along the i ntersection of the possible primary and secondary r ing
structures.
PJX plans to d etermine if the Zeus zone has a preferred orientation (strike and dip) to help vector
toward additional mineralization. Geophysics and soil sampling surveys are also planned to define
additional drill targets in the large clay altered zones and possible ring structures on strike with the
Zeus zone.
“The Wuho Creek copper, silver, gold, cobalt target is one of a number of large mineralized areas
with deposit potential that PJX has identified in the Sullivan Mining District.” states John Keating,
President and CEO of PJ X Res ources. “ We’ve consolidated the largest land package along with
historical data in the mining camp to be able to effectively use new exploration techniques,
technologies, and computer modelling to identify large new targets with deposit potential that
were missed in the past.
We recently announced the Gar granitic intrusive target with grab samples of sheeted veins ranging
from anomalous to 28,841 ppb (28.84 g/t) gold on our Zinger Property (see August 17, 2021 press
release), as well as the Tackle Creek gold target area and Lewis Ridge gold, copper, zinc, lead, silver
target area that are both on our Dewdney Trail Property (see September 16, 2021 press release).
Drilling to test along strike of the high grade David Go ld Zo ne on our Gold Shear Property was
completed in October with assay results expected to be available in the new year.
2021 has been a busy and promising field season. We be lieve the Sullivan Mining District has
potential to host multiple gold and base metal deposits. We invite you to watch our 3 minute video
explaining why.” (https://youtu.be/iCbzQDi6ANo or www.pjxresources.com).
Photo A - Historical drill hole Z -07-01 core from 135.93 to 153.04 m. Ten me tres from 144 -154m
averaged 1.23% copper.
Figure 1 – Airborne VTEM Total Magnetics on left, and Tilt Derivative Ma gnetics on right , overlain o n
geology map. Magnetic maps support potential of primary and secondary ring features that may
represent multiple collapsed intrusives at depth.
Figure 2 – Geology map displays Zeus copper-silver-gold-cobalt zone with large clay alteration zone (gray
area on map) at intersection of possible collapsed intr usives at depth . Iron-oxide breccias , locally
containing gold, occur along 2 large regional str uctures (Baldy and Palmer -Bar faults). Heavy mineral
stream samples contain >200ppm cobalt (areas outlined in green on map). Schematic cross-section A-A’
shows possible colla psed intrusi ve at de pth, with syenite (purple) and monzonite (red) intrusives at
surface.
Extension of Share Purchase Warrant Expiry Date
The Company is pleased to announc e that, subject to TSX Venture Exc hange approval, it has extended
the term of 4,574,131 share purchase warrants, (the " Warrants"). The Warrants were issued pursuant
to a priv ate placement announced on December 17, 2018 and acce pted for fi ling by the TSX Venture
Exchange on December 1 9, 2018 . The W arrants are due to expire on December 17 , 2021 and are
exercisable at $0. 30 per share. The new expiration dat e of the Warrants is December 17, 202 2. All
other terms of the warrants, including the exercise price remain unchanged.
Qualified Person
The geologica l disclosure and c ontent of this news release has been reviewed and approved by John
Keating P.Geo. (qualified persons 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 resour ces with a focus on gold , s ilver and base
metals (zinc, lead, copper , nickel ). PJX’s primary properti es are located in th e his torical 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
Certain statements in this news release, referred to herein as "forward -looking statements", constitute "forward -looking statement s"
under the provisions of Canadian provincial securities laws. These statements c an be identified by the use of words such as "expected",
"may", "will" or similar terms.
Forward-looking statements ar e necessarily based upon a number of factors and assump tions that, while considered reasonable by PJX
Resources Inc. as of the date of su ch 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 t hese forward-looking statements,
which spea k only as of the date made. Except as otherwise requir ed b y law, PJX Resources Inc. expressly disclaims any o bligation or
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expectations or any change in events, conditions or circumstan ces 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 m ine. We
advise U.S. investors that the SEC's mining gui delines st rictly prohibit information of this type in d ocuments filed with the SEC . U.S.
investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on o ur properties. This news
release may contain forward -looking statements including but not limited to comments regarding the timing and co ntent of upco ming
work programs, geological interpretations, receipt of prop erty titles, potential mineral recovery pro cesses, etc. Forward -looking
statements address future events and conditions and therefore involve inherent ri sks a nd uncertainties. Actu al results ma y differ
materially from those currently anticipated in such st atements.
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recognize them. "Inferred M ineral 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 upgra ded to a higher category.
Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studie s. United
States investors are cautioned not to assume that all or any part of Measured or Indicated Miner al Resources will ever be converted into
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