High Grade GOLD Mineralization Potential ON PJX Resource’S GOLD Shear Property
(TSX VENTURE: PJX.V)
HIGH GRADE GOLD MINERALIZATION POTENTIAL ON PJX RESOURCE’S
GOLD SHEAR PROPERTY
Toronto, Ontario – May 20, 20 20 – PJX Resources I nc. (“PJX”) is plea sed to announce that PJX drill
results compiled with historical drill data has identified large target areas on strike and at depth of high-
grade gold mineralization on the Go ld Shear Property. The Gold Shear Property is road accessible and
part of PJX’s large mineral title holdings (over 50,000 hectares) in the Placer Gold and Sulliv an Mining
Camps near Cranbrook, British Columbia, Canada. Over 1.5 million ounces of placer gold are estimated
to have been mined from the local creeks. PJX is exploring for the bedrock source of this gold.
Highlights
• PJX drilling confirmed the high-grade nature of gold mineralization in the David Shear Zone
on the Gold Shear Property (see Jan 20, 2020 release).
• Recent compilation of PJX drilling and historical drill data (1990s) support a north plunge to
high-grade gold mineral ization that does not app ear to have been fully tested (see Long
Section https://pjxresources.com/GS_Long_Sec.jpg).
• Higher gold grades appear to occur in zones with visible gold, or increased sulphide minerals
(iron, lead, zinc, copper, tellurium) and/or a dilation (bend, break, or fold) in the shear zone.
• Large untested ta rget is defined at depth by geophysics (see
https://pjxresources.com/GS_Geophys_Sec.jpg).
• Geophysics may represent an increase in conductive s ulphide mineralizati on, alteration
and/or a larger bend, break, or fold in the shear zone.
“The David Gold Zone is a typical shear hosted gold system” states Mr. John Keating, President and CEO
of PJX Resources. “High grade mineralization over narrow widths seen at the Da vid, such as 54.76 g/t
over 1.0 m , occur above or proximal to gold deposits found in mining camps l ike Kirkland Lake and
elsewhere. For example, mining companies drilled shallow holes for tens of years and intersected good
gold grades over narrow widths west of Timmins. It was only when West Timmins Mining drilled deeper
holes to 500m or more that the first gold deposit was discovered at a location where the structure
dilates, takes a bend or folds, and becomes more favourable to form a gold deposit . Similarly, the bend
or fold in structure that can influence gold deposit location occurs below the 300m depth in the Harker-
Holloway area east of Timmins.” (see schematic https://pjxresources.com/DPFZ.jpg)
Although the age of gold deposits and rocks in Kirkland Lake, Timmins and other mining camps are older
than at the David, the rock types are similar.
Placer gold was first discovered and started a gold rush in 1864 in the Cranbrook area. Placer mining
continues today and the bedrock source of gold has yet to be discovered. “High-grade gold
mineralization can be found in bedrock across PJX’s large land holdings,” states Mr. Keating. “The main
bend, fold or breaks in the gold bearing structures need to be located. These structural controls for gold
mineralization may be at depth and this could explain why gold deposits have yet to be discovered in
the headwaters of the placer creeks that have produced over 1.5 million ounces of gold in the Cranbrook
placer gold and base metal mining district. Our goal is to identify and follow these structural controls to
discover potential gold deposits.”
Next Steps
In 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.
This year, PJX plans to drill the Gold Shear Property for high-grade gold mineralization down plunge to
the north and at depth on the David Gold Zone, and assess the potential for additional high-grade gold
zones along the David Shear.
Qualified Persons
The foregoing geological disclosure has been reviewed and approved John Keating P.Geo . (qualified
person for t he purpose of National Instrument 43-101 Standa rds of Disclosure for Miner al Pro jects).
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 the exploration and d evelopment of m ineral resources with a fo cus on gold , silver and base
metals (z inc, lead, copper) . PJX’s primary propert ies are located in the historical min ing 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
This News Release contains fo rward-looking statemen ts. Forw ard looking s tatements are stateme nts which relate to future
events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success
of exploration ac tivities, mine devel opment p rospects, comp letion o f economic as sessments, and future gold production. I n
some cases, you can identify forwar d-looking statements by t erminology such as "may", "should", "expects", "plans ",
"anticipates", believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other c omparable
terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that
may cause our actual results, level o f activity, performance or achievements to be materially different from any future r esults,
levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.
Although PJX has attempted to identify important factor s that co uld cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be o ther 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 event s could differ mat erially 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.