Potential ON PJX Resources’ Dd Property
(TSX VENTURE: PJX.V)
SULLIVAN TYPE ZINC-LEAD-SILVER
POTENTIAL ON PJX RESOURCES’ DD PROPERTY
Toronto, Ontario – June 18, 2020 – PJX Resources Inc. (“PJX” ) is pleased to announce that PJX’s
assessment supports Teck Resources Limited’s (“Teck”) report on PJX’s DD property that a drill hole
to test the target horizon called the LMC (Lower-Middle Al dridge Contact) was not dril led deep
enough. The LMC is the geological horizon where the Sullivan Deposit (zinc, lead, silver ) occurs
approximately 45 kilo metres north of PJX’s 100% owned DD Property near Cra nbrook, Bri tish
Columbia, Canada.
“The drill hole stopped in a gabbro sill rock unit that occurs above the LMC horizon in holes drilled
in the area around the DD Property called the Panda Basin”, states Dave Pighin, consulting geologist
for PJX Resources. “The hole is accessible and needs to be extended and drilled through the gabbro
sill to test the potential for a Sullivan type deposit at the LMC horizon.”
“The exploration permit for the DD Property is being transferred to PJX,” states the President and
CEO of PJX , John Keating. “Once received, t he multi-year area-based permit will allow PJX to drill
and explore the DD Property for the next 4 years. PJX management believe that, regionally, the DD
Property and PJX’s Vine Property have the best potential to host Sullivan type massive sulphide
deposits. Potential on the D D Property is based, in part, on historical drilling results in the area
around the property, and only 2 holes have been drilled on the property.”
The road accessible DD Property is located approximately 120 km east of the Trail Metallurgical
Complex that produced some 8 million tonnes of zinc, 9 million tonnes of lead, and over 285 million
ounces of silver from processing Sullivan Mine concen trate. The Sullivan Mine produced
concentrate for over 90 years before being closed in 2001.
Teck had an option to earn an interest in the DD Property from 2016 until November 2019. In late
2018, Tec k drilled a 1 425 metre sub-vertical hole (PAN-18-01) to test a Magnetotelluric (MT)
geophysical anomaly and the LMC horizon. The following findings are from Teck’s report.
Teck Report Findings (Assessment Report on Drilling at the Panda Mineral Tenure – DD Property)
• Albite-silica-sericite-garnet alterati on is ubiquitous throughout the hole, with locally
increasing alteratio n in tensity associated with zones of higher fracture density. Garnet
alteration is ubiquitous a nd more common compared to other historic holes in the Panda
sub-basin.
• Strong pervasive and fracture -controlled quartz -albite-white mica alteration occurs fro m
1262-1361m, proximal to the upper contact of the lowermost gabbro sill.
• The MT conductivit y anomaly targeted by PAN -18-01 may be explained by an increase in
pyrrhotite in the lowermost gabbro sill intersected from 1361 – 1425m.
• It is unlikely that the Lower-Middle Aldridge contact was intersected by PAN -08-01 as
neither fragmental rocks nor diagnostic Lower Aldridge rocks were observed. The LMC is
likely below the gabbro sill in which PAN-18-01 was terminated.
The foregoing geological 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 the DD and Vine
Properties. Mr. Keating is the President, Chief Executive Officer and a Director of PJX.
About PJX Resources Inc.
PJX is a mineral exploration company focus ed on building s hareholder value and community
opportunity through the exploration an d development of m ineral resources with a focus on gold
and base metals. PJX’s properties a re located in the h istorical mining area of Cranbrook and
Kimberley, British Col umbia. 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 f orward-looking statements. F orward looking sta tements are s tatements which relate to future events. Forward -looking
statements includ e, bu t ar e not limited to, statements with respect to exploration results, the suc cess of e xploration activities, mine deve lopment
prospects, completion of ec onomic assessments, and future gold production. In some cases, you can identify forw ard-looking statements by terminology
such as "may", “appears to”, "should", "ex pects", "plans", "anticipates", believes", "estimates", " predicts", " potential", or " continue" or the negative of
these terms or other com parable terminology. These statements are only predi ctions an d involve known an d unknown risks, uncertain ties and othe r
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 cause 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 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.