Drilling Confirms High Grade GOLD Mineralization ON PJX Resource’S GOLD Shear Property
(TSX VENTURE: PJX.V)
DRILLING CONFIRMS HIGH GRADE GOLD MINERALIZATION ON PJX
RESOURCE’S GOLD SHEAR PROPERTY
Toronto, Ontario – January 20, 20 20 – PJX Resources I nc. (“PJX”) is plea sed to announce that vein
hosted high-grade gold mineralization , with a w eighted average of up to 25.07 grams per tonne (g/t)
over 2.1 metres (m) true width, was intersected by drilling on the David Gold Zone on the Gold S hear
Property near Cranbrook, British Columbia, Canada.
“Gold mineraliza tion appears to be associated wit h an intrusive source ” states Mr. John Keating,
President and CEO of PJX Resourc es. “ Intrusive related gold mineralizing s ystems can have significant
lateral and vertical extent. Drilling also indicates that the shear system hosting the gold continues to
depth and that the gold mineralization within the shear appears to occur in a zone that plunge s to the
north. This important information will help guide the ne xt phase of drilling planned for this summer.
Geophysics suggest s that there may be additional parallel gold zones not yet drilled on s trike and at
depth. Drilling will also be carried out this winter to test the N ew Massive Sulphide (zinc, copper, lead,
silver) zone discovered last year on PJX’s Vine Property.”
Highlights of the 2019 Exploration Program
• Six of the 9 holes drilled to test the David Gold Zone intersected high-grade gold mineralization.
• Gold occurs within a north trending, west dipping shear zone called the David Shear.
• Multiple phases of quartz veining occur within and adjacent to the main shear. The main shear
is anomalous in gold , in the 100 s of ppb and varies in thickness from 1.2 to 4.5 metres true
width. (see drill results table https://pjxresources.com/gs_drill_results.jpg)
• High-grade gold mineralization up-to 54,765 ppb (54.76 g/t) appears to o ccur as a zone in the
main shear and varies in thickness from of 0.5 to 1.0 metre true width.
• High grade gold miner alization can be traced from surface down the shear f or 100 metres. (see
cross section https://pjxresources.com/gs_cross_section.jpg)
• The shear continues to depth but with only anomalous gold. The relative locations of high-grade
gold mineralization at surface (up to 193.9 g/t gold) and in the drill holes suggests that the David
gold zone plunges to the north within the David shear. The down plunge potential is planned to
be tested during the next phase of drilling.
• Seven of 12 grab samples taken at surface from the David Gold Zone returned gold grades of
over 68 g/t with the highest being 193.9 g/t gold. (see plan map https://pjxresources.com/gs_map.jpg)
• Eleven visible gold grains were identified in the surface rock sample that assayed 193.9 g/t gold.
Visible gold was not identified in the other samples.
• Visible gold was not ident ified in the drill core. The nugget effect of having visible gold supports
the potential for additional high-grade gold mineralization that has not been encountered by the
current round of drilling.
Next Steps
In early 2019, PJX received a 5-year permit from the BC g overnment to drill and trench the D avid Gold
Zone and other targets on both the Gold Shear and adjacent Eddy Properties. In the fall of 2019 , PJX
undertook it’s first drilling program described above.
The n ext phase of drillin g on the Gold Shear Property will targe t the potential for high-grade gold
mineralization down plunge to the north on the David Gold Zone, and the poten tial for parallel high-
grade gold zones at depth and on strike of the David Shear.
Potential for Additional Gold Zones
Geophysical Target at depth
• Some high-grade gold mineralization (196.69 g/t gold) inters ected by historical drilling in 1990,
on the David Gold Zone occurs with very fine grained black (s ooty looking) weakly conductive
sulphides.
• Similar sulphide mine ralization was encountered, but only in minor amounts, in some of PJX ’s
drill holes. Higher concentrations of gold occurred with this type of sulphide mineralization.
• Geophysics has identified a large geophysical target area at depth that could be associated with
weakly conductive sul phides. Parts of this target dip to the north , similar to the suggested
plunge of the David Gold zone.
• Hole GS-19-06 was drilled t o test part of this target at depth . The hole intersected the David
shear, but the hole deviated and did no t drill de ep enough to test the upper part of the
geophysical target. Additional drilling is required to test this target.
West Shear Target
• Prospecting has identified a second shear to the west of the shear hosting the David Gold Zone.
• Hole GS-19-06 was the only hole drilled to test th e West Shear. The hole intersected the shear
where it crosses a gab bro rock unit that is not favourable for hosting gold. The shear had
anomalous gold up to 600 ppb.
• Sediments are favourable for hos ting gold at the David Zone. This rock type is at depth below
the gabbro at the West Shear.
• Additional drilling is required to test the west shear where it cuts through the sediments be low
the gabbro. The gabbro may act as an aquitard that could dam-up gold bearing fluid s flowing
along the shear and cause the gold to deposit or concentrate in the sediments . A quitards
influence gold deposit formation in Nevada and elsewhere.
Geological Information
• Gold mineralization occurs with quartz veining and flooding i n quartz-carbonate and/or sericite
altered sediments (quartzite and argillite).
• Sample analys es indicate that there is a near perfect correlation of gold with tellurium (0.97
correlation coefficient). There is a moderate to strong correlation of gold with mercur y (0.52)
and cadmium (0.72). Lead, zinc, and silver have weak to moderat e correlations with gold of
about 0.4 correlation coefficient. Mercury’s correlation is based on only a few samples that had
greater than the detection limit concentrations.
• Minerals aquamarine (beryl) and potassium feldspar are present in some quartz veins with or
without gold mineralization.
• Sample analyses and mineral assemblages support the potential for an intrusive source for fluids
that carried and deposited the gold mineralization.
• The cadmium, zinc, lead and s ilver correlation may also relate to a potential host rock that is
favourable for extracting and concentrating the gold from the intrusive mineralizing fluids. The
shear zone and qua rtz veins a re hosted in Aldridge formation rock s that a lso host the Sullivan
zinc, lead, cadmium, silver deposit.
David Gold Zone Background
According to B.C. Ministry of Energy Mines and Petroleum Minfile data, gold was first discovered in 1990
when an exposure of gold -mineralized quartz v eining within a sh ear zone was c hip sampled across 40
centimetres. The samples assayed up to 144 g/t gold. The sh ear zone occurs within quartzites and
siltstones of the Middle Aldridge Formation and has been traced b y widely spaced drilling along strike
for 1600 metres and 150 metres down dip. The shear is also reported to contain anomalous gold valu es
over this entire length. The shear strikes north toward PJX’s adjacent Eddy Property.
The Gold Shear and Eddy Pro perties are road-accessible and proximal to power lin es, rail lines and the
cities of Cranbrook and Kimberley, British Columbia, Canada.
Qualified Persons
The foregoing geological disclosure has been reviewed and app roved by Michael Seabroook P.Geo. and
John Keating P.Geo . (qualified perso ns for the purpos e of National Instrument 43-101 Standa rds of
Disclosure for Mineral Projects). Mr. Seabrook is the consulting geologist for PJX on the Gold S hear and
Eddy Properties. Mr. Keating is the President, Chief Executive Officer and a Director of PJX.
Sampling and QA/QC
All technical information for the Gold Shear exploration p rogram is obtained and reported under a
quality assurance and quality control ("QA/QC") program. Samples are taken from core cut in half with a
diamond saw under the direction of qualified ge ologists. Samples are then labeled, placed in plastic
bags, sealed and with interval and sample numbers recorded. Samples are delivered by PJX to Bureau
Veritas in Vancouver, B .C. Systematic processing and anal ysis of standards, blanks and duplicates is
performed for precision and accuracy. Analysis for gold, silver, zinc, lead , copper and related trace
elements was done by Aqua Regia digestion with ICP-MS analysis. All drilling reported is NQ core.
About PJX Resources Inc.
PJX is a mineral exploration company focused on building shareholder value and community opportunity
through the exploration and d evelopment of miner al resources w ith a fo cus on gold. P JX’s primary
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 ADDITIONAL INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer
(416) 799-9205
Forward-Looking Information
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events. Forward-looking statements include, but are no t limited to, statements with respect to exploration resu lts, the success
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