Three-Dimensional Modelling Supports Potential Down Plunge Extension of High-Grade David GOLD Zone ON PJX Resources’ GOLD Shear Property
(TSX VENTURE: PJX.V)
THREE-DIMENSIONAL MODELLING SUPPORTS POTENTIAL DOWN PLUNGE
EXTENSION OF HIGH-GRADE DAVID GOLD ZONE
ON PJX RESOURCES’ GOLD SHEAR PROPERTY
Toronto, Ontario – July 24, 2019 – PJX Resources Inc. (“PJX”) is pleased to announce that 3-D Modelling
of historical drilling in Leapfrog suggests that the High Grade David Gold Zone has an apparent plunge or
rake to the north (see https://pjxresources.com/3-D_Model_David_Gold_Zone.jpg). This potential
north plunge to the mineralization has not been fully tested by historical drilling. PJX plans to
commence drilling o n the David Gold Z one in A ugust after drilling is completed on the current Vine
Property drilling program.
• High-grade gold characteristic of the David Gold Z one is supported by PJX mapping that also
supports a northward plunge to the gold mineralization.
• Seven of 12 grab samples taken from the David Gold Zone trenches 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 inters ected by historical drilling on the David Zone occurs with
weakly conductive 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. This target area has a similar north plunge to the David Gold
Zone. (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. “The David Gold Zone was only tested to a depth of about 150 metres. Geophysics suggests
that mineralization may extend at depth and that there may be parallel zones on strike and at depth
that have not been tested. It is also encouraging that the potential north plunge to gold mineralization
is supported by 3 separate methods of evaluation (surface mapp ing, 3-D modelling of historical drill
holes, and geophysics). Our first phase of drilling will test the David zone and the down di p and down
plunge potential extensions.”
PJX has 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. Additional surface exploration work
is planned to help define targets on both properties prior to drilling those targets.
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 c hip sampled across 40
centimetres. The samples assayed up to 144 grams per tonne gold. The sh ear 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 also reported to contain anomalous gold values ov er 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 than 100 metres; thickness averages 2.35 metres. I nferred 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 f rom 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 resour ce estimate for this property an d is un certain 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.
The Gold Shear and Eddy Pro perties 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 been reviewed and app roved by Michael Seabroook P.Geo. and
John Keating P.Geo. (qualified persons for the purpos e of National Instrument 43 -101 Standards of
Disclosure for Mineral Projects). Mr. Seabrook is the consulting geologist for PJX on the Gold S hear and
Eddy Properties. 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 miner al resources w ith 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 statemen ts. Forw ard looking s tatements 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 p rospects, comp letion o f economic as sessments, 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 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 co uld cause actual actions, events or results 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.
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