PJX Resources' Dewdney Trail Property Sedex Deposit Potential Update and Warrant Extension
PJX Resources announced findings from recent drilling at their Dewdney Trail Property near Cranbrook, BC. The discovery of iron-rich minerals with copper and traces of zinc and lead in a venting geological environment suggests potential for a Sedex-type deposit. The mineralizing system shows similarities to the Sullivan deposit located 20km west.
The company plans to conduct additional drilling in 2025, focusing on higher areas of the venting system and along strike. PJX also announced a 12-month extension of 9,391,794 share purchase warrants to December 20, 2025, maintaining the exercise price at $0.25 per share, subject to TSXV Exchange approval.
The company owns 100% of mineral rights covering over 680 km² in the Sullivan Mining District, with the Dewdney Trail Property spanning 150 km². Recent exploration revealed Sullivan-style mineralization associated with a magnetic anomaly traceable for approximately 1.6 km.
PJX Resources ha annunciato i risultati di recenti perforazioni nel loro Dewdney Trail Property vicino a Cranbrook, BC. La scoperta di minerali ricchi di ferro con rame e tracce di zinco e piombo in un ambiente geologico di sfiato suggerisce il potenziale per un deposito di tipo Sedex. Il sistema mineralizzante mostra somiglianze con il deposito di Sullivan situato a 20 km a ovest.
L'azienda prevede di effettuare ulteriori perforazioni nel 2025, concentrandosi su aree più elevate del sistema di sfiato e lungo la direzione del strike. PJX ha anche annunciato un'estensione di 12 mesi di 9.391.794 warrant di acquisto azioni fino al 20 dicembre 2025, mantenendo il prezzo di esercizio a $0,25 per azione, soggetto all'approvazione della Borsa TSXV.
L'azienda possiede il 100% dei diritti minerari che coprono oltre 680 km² nel Distretto Minerario di Sullivan, con il Dewdney Trail Property che si estende per 150 km². Recenti esplorazioni hanno rivelato mineralizzazione in stile Sullivan associata a un'anomalia magnetica tracciabile per circa 1,6 km.
PJX Resources anunció los hallazgos de perforaciones recientes en su Dewdney Trail Property cerca de Cranbrook, BC. El descubrimiento de minerales ricos en hierro con cobre y trazas de zinc y plomo en un entorno geológico de ventilación sugiere el potencial para un depósito tipo Sedex. El sistema mineralizador muestra similitudes con el depósito Sullivan ubicado a 20 km al oeste.
La empresa planea realizar perforaciones adicionales en 2025, enfocándose en las áreas más altas del sistema de ventilación y a lo largo de la dirección del strike. PJX también anunció una extensión de 12 meses para 9,391,794 garantías de compra de acciones hasta el 20 de diciembre de 2025, manteniendo el precio de ejercicio en $0.25 por acción, sujeto a la aprobación de la Bolsa TSXV.
La empresa posee el 100% de los derechos minerales que cubren más de 680 km² en el Distrito Minero de Sullivan, con el Dewdney Trail Property abarcando 150 km². Las recientes exploraciones han revelado mineralización al estilo Sullivan asociada a una anomalía magnética rastreable por aproximadamente 1.6 km.
PJX 리소스는 BC주 크랜브룩 근처의 Dewdney Trail Property에서 최근 시추 결과를 발표했습니다. 구리와 아연, 납의 흔적이 포함된 철이 풍부한 광물의 발견은 배출 지질 환경에서의 발견이며, 세덱스-유형 매장층의 잠재성을 시사합니다. 이 광물화 시스템은 서쪽으로 20km 떨어진 설리반 매장층과 유사한 점을 보입니다.
회사는 2025년에 추가 시추를 계획하고 있으며, 배출 시스템의 높은 지역과 스트라이크를 따라 집중할 것입니다. PJX는 또한 12개월 연장된 9,391,794주 구매 보증서를 2025년 12월 20일까지 유지하며, 주당 0.25달러의 행사 가격을 유지한다고 발표했습니다. 이는 TSXV 거래소의 승인을 조건으로 합니다.
회사는 설리반 광산 지구에서 680 km² 이상의 광물권 100%를 소유하고 있으며, Dewdney Trail Property는 150 km²에 걸쳐 있습니다. 최근 탐사에서는 약 1.6 km에 걸쳐 추적 가능한 자기 이상과 관련된 설리반 스타일 광물화가 발견되었습니다.
PJX Resources a annoncé les résultats de forages récents sur son Dewdney Trail Property près de Cranbrook, BC. La découverte de minéraux riches en fer avec du cuivre et des traces de zinc et de plomb dans un environnement géologique de ventilation suggère un potentiel pour un dépôt de type Sedex. Le système de minéralisation présente des similitudes avec le dépôt de Sullivan situé à 20 km à l'ouest.
La société prévoit d'effectuer des forages supplémentaires en 2025, en se concentrant sur des zones plus élevées du système de ventilation et le long de la direction de l'impact. PJX a également annoncé une extension de 12 mois de 9.391.794 bons de souscription d'actions jusqu'au 20 décembre 2025, maintenant le prix d'exercice à 0,25 $ par action, sous réserve de l'approbation de la Bourse TSXV.
La société possède 100 % des droits miniers couvrant plus de 680 km² dans le district minier de Sullivan, le Dewdney Trail Property s'étendant sur 150 km². Les récentes explorations ont révélé une minéralisation de style Sullivan associée à une anomalie magnétique traçable sur environ 1,6 km.
PJX Resources hat die Ergebnisse von aktuellen Bohrungen auf ihrem Dewdney Trail Property in der Nähe von Cranbrook, BC, bekannt gegeben. Die Entdeckung von eisenhaltigen Mineralien mit Kupfer und Spuren von Zink und Blei in einer ventilaren geologischen Umgebung deutet auf ein Potenzial für ein Sedex-Typ Deposito hin. Das mineralisierende System weist Ähnlichkeiten mit dem 20 km westlich gelegenen Sullivan-Deposito auf.
Das Unternehmen plant, 2025 zusätzliche Bohrungen durchzuführen, wobei der Fokus auf höheren Bereichen des belüfteten Systems und entlang des Trends liegt. PJX kündigte außerdem eine Verlängerung von 12 Monaten für 9.391.794 Aktien-Warrants bis zum 20. Dezember 2025 an, wobei der Ausübungspreis bei 0,25 $ pro Aktie bleibt, vorbehaltlich der Genehmigung der TSXV-Börse.
Das Unternehmen besitzt 100 % der Mineralrechte, die über 680 km² im Sullivan-Minenbezirk abdecken, wobei das Dewdney Trail Property 150 km² umfasst. Jüngste Erkundungen haben Sullivan-ähnliche Mineralisierung im Zusammenhang mit einer magnetischen Anomalie ergeben, die über etwa 1,6 km zurückverfolgt werden kann.
- Discovery of iron-rich minerals and copper in venting environment indicates potential Sedex-type deposit
- Company owns 100% mineral rights to over 680 km² in Sullivan Mining District
- Magnetic anomaly traceable for 1.6 km associated with mineralization
- Additional drilling required to confirm deposit potential
- Warrant extension may indicate need for continued financing
- Mineralization shows only minor to trace amounts of zinc and lead
TORONTO, ON / ACCESSWIRE / December 3, 2024 / PJX Resources Inc. ("PJX" or the "Company") is pleased to announce that iron rich minerals (pyrrhotite and pyrite) with copper (chalcopyrite) and minor to trace zinc (sphalerite) and lead (galena) discovered in a venting geological environment by recent drilling appears consistent with mineralisation typically found within a vent beneath Sedex (Sedimentary Exhalative) type zinc-lead-silver mineralisation. This first phase of drilling commenced in August this year after PJX received a five year permit to explore and drill the large Dewdney Trail Property near Cranbrook, BC. (see news release November 12, 2024)
Sedex deposits typically form where metal rich fluids rise from depth along pathways called vents that occur along faults. Deposit models suggest zinc and lead minerals (sphalerite and galena) are first to be deposited. Iron and copper rich mineralisation rise later along the vent and sometimes replace and/or remobilize zinc and lead and carry them higher in the venting system. The result is a zone of Sedex style zinc-lead-silver mineralisation above and/or laterally away from the location of iron and copper mineralisation. More drilling is required higher in the venting system which is higher on the mountain and laterally on strike to the south and north.
John Keating, President of PJX, commented, "Discovering iron and copper sulphide minerals within a venting geological environment supports a mineralizing system that could produce a Sedex type deposit, possibly similar to the Sullivan deposit located about 20 km to the west. The boulders discovered at surface late last year, in proximity to the drilling, are evidence that the mineralising system produced Sullivan style and grade zinc, lead, silver, and other critical metal mineralisation (see news release October 12, 2023). Additional information will be announced when drill core sample analyses have been received and compiled with drill core and other data to plan the next phase of drilling in 2025."
Warrant Extension
Subject to the approval of the TSXV Exchange, the Company intends to further extend the expiry date of 9,391,794 share purchase warrants, (the "Warrants") by 12 months to December 20, 2025. The Warrants were issued pursuant to a private placement accepted for filing by the TSX Venture Exchange on December 21, 2021. The Warrants are exercisable at
A total of 257,647 of the affected Warrants are held by parties considered to be "related parties" of the Company. Therefore, the amendment of Warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions, and TSXV Policy 5.9 - Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon as the fair market value of the Warrants held by insiders does not exceed
PJX's New Discovery Potential Background
PJX owns
The geological disclosure and content of this news release has been 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 development of mineral resources with a focus on gold, silver, zinc, lead, copper, cobalt, and other critical metals. PJX's properties are located in the historical Sullivan Mine District and Vulcan Gold Belt near 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
info@pjxresources.com
Cautionary Note Regarding Forward-Looking Information
The information in this news release has been prepared as at the date noted above. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by PJX Resources Inc. as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, PJX Resources Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in PJX Resources Inc.'s expectations or any change in events, conditions or circumstances on which any such statement is based.
Cautionary Note to US Investors:
This news release may contain information about adjacent properties on which PJX Resources Inc. has no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such 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.
SOURCE: PJX Resources Inc.
View the original press release on accesswire.com
FAQ
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