Geophysics Suggests Potential Massive Sulphide Body May Be Offset Approximatley 100 Metres from Recent Drill Hole ON PJX Resources’ Vine Property
(TSX VENTURE: PJX.V)
GEOPHYSICS SUGGESTS POTENTIAL MASSIVE SULPHIDE BODY MAY BE
OFFSET APPROXIMATLEY 100 METRES FROM RECENT DRILL HOLE
ON PJX RESOURCES’ VINE PROPERTY
Toronto, Ontario – May 23, 2019 – PJX Resources Inc. (“PJX”) is pleased to announce that
interpretation of d own-hole Electromagnetic survey data combined with Magnetotelluric ( MT)
geophysics suggests that the source of a large MT anomaly may offset approximately 100 metres
from the recently completed hole drilled to test the anomaly . Th e drill hole intersected a fault -
controlled block of rock at target depth that appears to have displaced the source of the MT
anomaly which could be a massive sulphide body. ( see MT cross section s
http://pjxresources.com/mt-sections.jpg)
The core of the MT anomaly is also coincident with the most highly susceptible magnetic area in the
survey according to Quantec Geoscience’s interpretation. This supports the potential for magnetic
massive iron sulphides, such as pyrrhotite, that are commonly associated with zinc, lead and ot her
sulphides at the Sull ivan and other massive sulph ide deposits. ( see MT-Mag cross secti on
http://pjxresources.com/mt-mag-sections.jpg)
Recent field evaluation of surface mapping and drill core b y geologists Dave Pighin, Dr. Trygve Hoy,
and John Keating, in consultation with Dr. Geo rge Hudak , has conclud ed that the shape and
orientation of the MT anomalies are consistent with the orientation of folding and shearing within a
100 to 300m thick deformation zone. This zone locally hosts disseminated and bands of sphale rite
(zinc), galena (lead) and pyrrhotite-pyrite (iron) mineralization.
“This new geological understanding will be used to guide exploration to discover potential folded
and sheared massive sulphide bodies within the MT anomalies,” states John Keating. “Deformation
hosted deposits, such as Broken Hill, Geco, Lyon Lake and others, are o ften controlled by the
pattern of folding and shearing. The ability to correlate the MT anomalies to t hese fold and shear
patterns will help define the shape and orientation of potential massive sulphide ore shoots. In
addition, the ta rget horizon defined b y MT geophysics and the thick deformation zone appears
large enough to host a potential deformed deposit the size of the Sullivan or Broken Hill deposit s.
Additional drilling is planned over the coming months.”
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 massive
sulphide mineralization and not another source of conductivity, such as graphite.
• The m assive sulphide vein hosts zinc, lead, silver with anomalous gold and copper
mineralization and may represent remobilized sulphide from a deposit at depth.
• 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 recent hole to test th is MT target intersected a fault-controlled block of geology
hosting localized tourmaline alteration at target depth. Tourmaline is an alteration found in
and proximal to the Sullivan Deposit.
• This block of geology appears to have displaced t he source of the MT anomaly , and a
potential massive sulphide body , by approximately 100 metres from the dr ill hole . This
assessment is based on Quantec Geoscience’s interpretation of down-hole and MT
geophysical survey data.
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 years
before being closed in 2001. The property is 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 geologist who has studied and
written papers on the controls and setting of the Sullivan an d other mineral deposits. (Dr. Hoy
worked wi th the British Colum bia Geological S urvey an d currently serves as a Director on the
Board of PJX). Dr. George Hudak (P .Geo) is with the University o f Minnesota and is an expert on
volcanogenic massive sulphide deposit formation in structurally deformed Precambrian terrains.
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.
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 are 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
prospects, completion of eco nomic assessments, and future gold p roduction. In so me cases, you can identify forward- looking statements by terminology
such as "may", “appears to”, "should", "expects ", "plans", "anticipates", believes", "estimates", "predicts", " potential", or " continue" or the neg ative of
these terms or other com parable 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, perfo rmance 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.