Drillling Interesects Massive Sulphide Mineralization ON PJX Resources’ Vine Property
(TSX VENTURE: PJX.V)
DRILLLING INTERESECTS MASSIVE SULPHIDE MINERALIZATION
ON PJX RESOURCES’ VINE PROPERTY
Toronto, Ontario – August 19, 2019 – PJX Resources Inc. (“PJX” or “the Company”) is pleased to
announce that recent drilling intersected a zone with multiple layers of massive sulphide
mineralization on the Vine Property in the historical Sullivan Mine District near Cranbrook, British
Columbia Canada.
“Hole VA19 -48 intersected 4 layers of massive sulphide mineralizatio n in a zone from 777.1 to
782.6 metres,” states Dave Pighin. “ The massive sulphide layers are 0.4m, 1.4m, 0.6m and 1.1m
thick and consist of mainly pyrrhotite, minor chalcopyrite, galena and sphalerite. The massive
sulphides are interlayered with a band of calcite and strongly biotitized, seric itized and albitized
sediments. In the core, the massive sulphide and alteration zone appear to parallel bedding. The
1.4 metre massive sulphide layer graded 5177 ppm (0 .52%) copper, 63 20 ppm (0.63%) lead, 4526
ppm (0.45%) zinc, 7.6 ppm (7.6 g/t) silver with anomalous nickel 195 ppm and cobalt 263 ppm.
“The chemical signature of the mineralization is consistent with sediment-hosted sulphide deposits
in Belt Purcell rocks in Canada and the United States,” states Trygve Hoy.
“This is only the second hole to test the large conductive Magnetotelluric (MT) geophysical target,”
states John Keating. “The massive sulphide mineralization is strongly conductive and occurs at a
depth that corresponds with the top side of the large MT target. There remains potential down-dip
and on-strike with the massive sulphide zone. In addition, given the significant thickness of the MT
target there is potential that additional conductive zones of mineralization may occur below the
massive sulphide zone and were not intersected by the drill hole.”
Down-hole geophysics is planned to assess the orientation of the massi ve sulphide zone in
preparation for the next phase of drilling. The geophy sics will also explore for additional massive
sulphide mineralization at depth within the large MT target. (see Vine Property Background section
below)
Gold Exploration
PJX plans to commence drilling o n the David Gold Z one in August. This will be the fi rst phase of
drilling to test the high-grade David gold zone on PJX’s Gold Shear Property.
The property was last drilled in the 1990 ’s when a non 43-101 compliant resource estimated a n
average grade of 13 grams per tonne (g/t). (see PJX news release July 24, 2019)
Seven of 12 grab samples taken from the Da vid Gold Zone trenches by PJX returned gold grades
over 68 grams/tonne (g/t) with the highest being 193.9 g/t gold.
Vine Property Background
In late 2018, MT geophysics by Quantec Geoscience detected both shallow and large, deeper
conductive MT targets that could be identifying multiple massive sulphide bodies.
• Drilling the shallow MT target intersected a narrow massive sulphide vein in early 2019.
The vein is conductive and considered to be proof of concept that MT is identifying sulphide
mineralization and not another source of conductivity, such as graphite.
• The large MT target identified at depth has an 800 metre strike length and can be traced
down dip for over 2,000 metres.
• The second hole (VA19 -48) to test the larg e MT target was drilled vertically to 1877m in
order to drill across the entire thickness of the west dipping large MT target.
• VA19-48 intersected 4 layers of massive sulphide mineralization in a zone from 777.1 t o
782.6 metres.
• The massive sulphide layers are 0.4m, 1.4m, 0.6m and 1. 1m true thickness and consist of
mainly pyrrhotite, lesser chalcopyrite, minor galena and sphalerite.
• The 1.4 m massive sulphide layer graded 5177 ppm (0.52%) copper, 6320 ppm (0.63%) lead,
4526 ppm (0.45%) zinc, 7.6 ppm (7.6 g/t) silver with anomalous nickel 195 ppm and cobalt
263 ppm.
• The massive sulphides are interlayered with a band of calcite and strongly biotitized ,
sericitized and albitized sediments. In the core, the massive su lphide and alteration zone
appear to parallel sedimentary beds.
• The sedimentary beds dip gently to the west, similar to the large MT target.
• The massive sulphide layers are strongly condu ctive and occur in the top of the conductive
large MT target.
The road-accessible Vine Pro perty is located app roximately 140 km east of the Trail Metallurgical
Complex and about 35 km south of the historical Sullivan Mine, which operated for over 90 year s
before being closed in 2001. The property i s at an elevation wit h terrain amenable to dr ill at any
time of the year. It is crossed b y two power lines as well as a rail line and is only a 20 -minute drive
south along Highway 3 from Cranbrook, British Columbia.
Dave Pighin (P.Geo) discovered the Fors massive sulphide body and Vine massive sulphide vein for
Cominco. Dr. Trygve Hoy (P .Eng) is an economic and structural geolog ist who has studied and
written papers on the controls and setting of the Sullivan an d other mineral deposits. He worked
with the British Colu mbia Geological S urvey an d currently serves as a Director on the Board of
PJX).
The foregoing geologic al 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 th e Vine
Property. Mr. Keating is the President, Chief Executive Officer and a Director of PJX.
Warrant Term Extension
The Company is also pleased to announce that , subject to T SX Venture Exchange approval, it has
extended the exercise period of a total of 6, 833,284 outstanding share purchase warrants,
(collectively, the "Warrants"). The Warrants were issued pursuant to a private placement
announced on August 25, 2016 and accepted for filing by the TSX Venture Exchange on August 30,
2016. The Warrants are due to expire on August 29, 2019 and are exercisable at $0.25 per share.
The new expiration date of the Warrants is on August 29, 2020.
About PJX Resources Inc.
PJX is a mineral exploration company focused on building shareholder value and community
opportunity through th e exploration an d development of min eral resources with a fo cus on go ld
and base metals. PJX’s properties a re located in the histo rical 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
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. F orward l ooking state ments are statements whi ch relate to fut ure events. Forward -looking
statements include, but ar e not limited to, statements with respect to exploration resul ts, the success of exploration activities, mine development
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