Drilling Defines Possible Massive Sulphide Basin ON PJX Resources’ Vine Property
(TSX VENTURE: PJX.V)
DRILLING DEFINES POSSIBLE MASSIVE SULPHIDE BASIN
ON PJX RESOURCES’ VINE PROPERTY
Toronto, Ontario – May 5, 2020 – “PJX Resources’ had a successful year of exploration during 2019 ”,
states Mr. John Keating, President and CEO of PJX R esources (“PJX” or “the Company”). “Drilling
intersected high-grade gold mineralization on the Gold Shear Property and a New Massive Sulphide
(NMS) horizon on the Vine Property. We look forward to building on this success and further test these
new gold and base metal zones as well as targets on other properties in 2020.”
Initial drilling in 2020 on the Vine Property, prior to Covid-19 closure, intersected what appear to be syn-
rift fault structures that management considers to be important to the format ion of massive sulphide
mineralization containing zinc, lead, copper, silver and possibly gold. Massive sulphide mineralization
has been intersected in the NMS horizon by PJX’s drill hole VA19-48 and hole KV90-41 that was drilled in
1990 by a previous explorer. The two holes are 700 metres apart. Both massive sulphide intersections
appear to occur where the n ewly identified north-south oriented syn-rift faults intersect the northwest
oriented Vine vein fault structures.
Syn-rift faults and their intersections are fundamental controls on the location of venting and fluid flow
in the geological basin (graben) that produced the massive sulphide mineralization at the Sullivan
deposit. The new north-south syn-rift faults, combined with northwest oriented syn-rift fault s (Vine
vein), and the northeast Moyie syn-rift fault structure form a pattern that mimics the pattern of syn-rift
faults at the Sullivan deposit located 35 km north of the Vine Property. (see
https://pjxresources.com/wp-content/uploads/2020/05/Sullivan-Vine-Fault-Comparison.jpg)
Although drilling is temporarily halted, PJX’s employees and consultants remain healthy and continue to
work in isolation. Field mapping and new bio-geochem sampling are on -going to help define the
location of additional syn-rift fault structures and potential zones of increased mineralization. This work
in conjunction with drill data and geophysics will be used to plan the n ext phase of drilling to discover a
Sullivan type zinc-lead-silver deposit.
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.
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 12,296,276 share purchase warrants, (the "Warrants"). The Warrants were issued pursuant
to a private placement announced on May 1, 2018 and accepted for filing by the TSX Venture Exchange
on May 17, 2018 . The Warrants are due to expire on May 15, 2020 and are exercisable at $0.2 5 per
share. The new expiration date of the Warrants is May 15, 2021. All other terms of the warrants,
including the exercise price will remain unchanged.
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 mineral res ources with a focus on gold. PJX’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 FURTHER INFORMATION PLEASE CONTACT:
Linda Brennan, Chief Financial Officer
(416) 799-9205
Forward-Looking Information
This News Release contains forward -looking statements. Forward looking statements are state ments 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 prospec ts, completion of economic assessments, and futu re gold production. In
some cases, you can identify forw ard-looking statements by terminology such as "may", "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 achieve ments 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.
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.