Geophysics Expands Potential of New Massive Sulphide Horizon ON PJX Resources’ Vine Property
(TSX VENTURE: PJX.V)
GEOPHYSICS EXPANDS POTENTIAL OF NEW MASSIVE SULPHIDE HORIZON
ON PJX RESOURCES’ VINE PROPERTY
Toronto, Ontario – November 14, 2019 – PJX Resources Inc. (“PJX” or “the Company”) is pleased to
announce that the New Massive Sulphide (“NMS”) mineralization recently intersected by drilling
may be part of a laterally extensive horizon. Magnetotelluric (MT) geop hysics supports that the
conductive NMS zone may extend for kilometres to the northwest. The Sullivan massive sulphide
deposit also occurred in a laterally extensive horizon . The Vine Property is located 35 kilometres
south of the Sullivan Mine that closed in 2001, near Cranbrook, British Columbia, Canada.
“Only seven drill holes have tested the NMS h orizon in vicinity of the l arge MT target,” states John
Keating. “Two of these holes intersected massive sulphide mineralization with zinc, lead, copper,
and silver. The two holes are 700 metres apart with no other holes between them. The holes have
only tested a small part of the large MT targ et. There remains a large unexplored area with
potential to discover a significant deposit.” (See new map and photos of massive sulphide
mineralization at https://pjxresources.com/NMS-Horizon.pdf)
Highlights
• Recent PJX drill hole VA19-48 intersected a new massive sulphide (“NMS”) zone, from 777.1
– 782.6 metres. The zone has 4 layers that consist largely of iron-sulphides with anomalous
zinc, copper, lead, and silver.
• Historical hole KV9 0-41, drilled by Kokan ee Explor ation in 1990, intersected a 3.4 metre
thick massive sulphide zone grading 5.65 lead, 2.7% zinc and 1.2 ounces/ton silver.
• The two holes are 700 metres apart and appear to have intersected the same mineralized
NMS horizon.
• No holes have been drilled to test th e NMS horizon between these two holes or on strike
and down dip to the north and west.
• Magnetotelluric (“MT”) Geophysics has identified a large MT target.
• The NMS zone occurs at the top of the large MT target.
• According to Quantec Geoscience data, the large MT target has an 800-metre strike length
and can be traced down dip for over 2,000 metres.
• Recent thin section analysis of core samples by Vancouver Petrographics Ltd. has identified
granofels alteration, beneath the NM S horizon, that is considered to occur in areas with
high heat flow, such as venting environments on the ocean floor; a similar alteration occurs
beneath the Sullivan Deposit.
The foregoing geological disclosure has been reviewed and approved by John Keating P.Geo.
(qualified persons for the purpose of Natio nal Instrument 43 -101 Stan dards of Disclosure for
Mineral Projects). 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 peri od of a total of 12,457,431 outstanding share purchase warrants,
(collectively, the "Warrants"). The Warrants were issued pursuant to a private placement
announced on July 12, 2016 and accepted for filing by the TSX Venture Exchange on November 24,
2016. The Warrants are due t o expire on November 18, 2019 and are e xercisable at $0.2 5 per
share. The new expiration date of the Warrants is on November 18, 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, Bri tish 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 con tains forward -looking statements. F orward l ooking state ments are statements whi ch relate to future events. Forward -looking
statements include, but ar e not limited to, statements with respect to exploration resul ts, the success of explorati on activities, mine development
prospects, completion of eco nomic assessments, and future gold pro duction. In so me cases, you can identify forwar d-looking statements by terminology
such as "may", “appears to”, "shou ld", "expects ", "plans", "anticipates", believes", "estima tes", "predicts", "potential", or " continue" or the neg ative of
these terms or ot her com parable terminology. These statements ar e only predictions an d involve known and unknown risks, uncertainties and other
factors that may cause our actual results, level of activity, performance or achievements 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 caus e 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 antic ipated, 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.