Large Target Area Identified Below High-Grade David GOLD Zone ON Pjx’S GOLD Shear Property
(TSX VENTURE: PJX.V)
LARGE TARGET AREA IDENTIFIED BELOW HIGH-GRADE DAVID GOLD ZONE
ON PJX’S GOLD SHEAR PROPERTY
Toronto, Ontario – November 07, 2018 – PJX Resources I nc. (“PJX”) is pleased to announce that its
recent geophysics program has identified a large target area that may host the extension at depth of the
high-grade David G old Zone on PJX’s Gold Shear Property located 29 kilometres (“km”) southwest of
Cranbrook, British Columbia, Canada. The David Gold Zone is hosted in a shear zone that strikes north
toward PJX’s adjacent Eddy Property.
• High-grade gold characteristic of the David zone is supported by recent mapping.
• Seven of 12 grab samples recently taken from the David Gold Zone trench have returned gold
grades over 68 grams/tonne (g/t) with the highest being 193.9 g/t gold (see
http://pjxresources.com/wp-content/uploads/2018/11/david-gold-zone-map.jpg).
• High-grade gold mineralization intersected by historical drilling on the David Zone occurs with
weak to moderately c onductive sulphides (see http://pjxresources.com/wp-
content/uploads/2018/11/photo-of-historical-core-grading-196-69-gt-gold.jpg).
• Geophysics has identified a large conductive target area at depth below high -grade gold
mineralization in the David Trench (see http://pjxresources.com/wp-
content/uploads/2018/11/david-trench-vlf-section.jpg.
“The David Gold Zone was last drilled in the 1990’s”, states Mr. John Keating, President and CEO of PJX
Resources. “According to British Columbia (BC) government data, the David Zone was only tested to a
depth of 150 metres. The large conductive target recently identified at depth supports the potential for
PJX to explore below the historical drilling and expand the high-grade gold mineralized David Zone as
well as testing for potential new zones on strike.”
High-grade gold mineralization intersected by historic al drilling on the David Zone can occur with weak
to moderately c onductive sulphides . Dr. Fred Cook, o f Salt Spring Imaging Ltd., proc essed and
interpreted data from a 3 km VLF geo physical survey line to identify conductivity anomalies along the
shear structure that hosts the David Gold Zone. Given the long length of the survey line, Dr. Cook was
able to identify multiple t arget areas w ith weak to moderate conductivity at depth alo ng the shear
structure. These conductivity anomalies may have the potential to host sulphides w ith high-grade gold
mineralization. One large conductive target area occurs at depth below high-grade gold mineralization
in the David Trench.
PJX has applied for a 5 year permit from the BC government to drill and trench the David zone and other
targets on both the Gold Shear and Eddy Properties. Additional geophysics and other work are planned
to help define targets prior to drilling.
David Gold Zone Background
According to B.C. Ministry of Energy Mines and Petroleum Minfile data, gold was first discovered in 1990
when an exposure of gold -mineralized quartz v eining within a shear zone was chip samp led across 40
centimetres. The samples assayed up to 144 grams per tonne gold. The shear zone occurs within
quartzites and siltstones of the Middle Aldridge Formation and has been traced along strike for 1600
metres and 150 metres down dip. The shear is a lso reported to contain anomalous gold values over this
entire length. The shear strikes north toward PJX’s adjacent Eddy Property.
“Drilling outlined one continuous zone of gold mineralization over a strike length of 150 metres and to a
depth of more tha n 100 metres; thickness averages 2.35 metres. Inferred resources for this zone are
96,000 tonnes grading 13.08 grams per tonne gold (uncut) or 7.11 grams per tonne gold (cut). (Property
Development Repor t by Bapty Research Ltd., 1991). ” (Quoted from the B.C Ministry of Energy Mines, and
Petroleum Resources’ Minfile Record Summary (082FSE108)).
Bapty Research Ltd.’s resource estimate reported above is a historical estimate and was not prepared
using the r esource cat egorizations set out in NI 43 -101. PJX m anagement is not aware of any more
recent resource estimate for this property an d is uncertain as to the relevance or reliability of the
historical estimate. PJX is not treating the historical estimate as current mineral resources or re serves,
as a qualified person has not done enough work to classify the historical estimate.
PROJECT UPDATES
DD Property
Teck Resources Limited, who has an option to earn up to a 75% interest in the DD Property (see March
5, 2018 p ress release), has drilled a 1,425 metre hole on PJX’s zinc-lead DD Property. The drill core is
being logged and analyzed. Result s of this work and next steps will be announced when the analysis is
completed.
Zinger Property
PJX has drilled 6 ho les total ling 1,224 metres on PJX’s Zinger Gold Property. The drill core is being
logged and analyzed . Results of this work and n ext steps will be announced when the analysis is
completed.
Vine Property
Drilling by PJX on the Vine Property’s East Gravity anomaly has defined an ext ensive target horizon with
potential to host a massive sulphide body containing zinc, lead and /or copper mineralization (see press
release September 19, 2018) . Two conductive targets that were identified by a small Magnetotelluric
(“MT”) geophysical surve y were drilled. Bo th holes enco untered conductive iron sulphides with
anomalous sphalerite (zi nc), galena (lead) and/or chalcopyrite (copper mineralization). Quantec
Geoscience has been contracted to complete a larger MT survey. The results of this surv ey will be used
with existing gr avity geophysics and geolog ical information to direct the next phase of drilling planned
for January and February of 2019.
All PJX properties are road-accessible and proximal to power lin es, rail lines and the cities of Cranbrook
and Kimberley, British Columbia, Canada.
The foregoing geological disclosure has bee n reviewed and approved by John Keating P.Geo. (qualified
person for the purpose of National Instrument 43 -101 Standards of Disclosure for Mineral Projects).
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 mineral resources with a fo cus on gold. P JX’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 con tains forward -looking statements. Forw ard looking st atements are statements 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 pros pects, completion o f economic assessments, and future gold production. In
some cases, you can identify forwar d-looking statements by terminology such as "may", "should", "expects", "plans",
"anticipates", believes", "estimates", "pred icts", "potential", or "continue" or the negative of these terms or other comparable
terminology. These statements are only predict ions and involve known and unknown risks, uncertainties and other factors that
may cause our actual results, level of activit y, performance or achievements to be mate rially 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 co uld cause actual actio ns, events or resul ts to differ m aterially
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 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.