Vancouver, British Columbia--(Newsfile Corp. - September 14,
2017) - Jaxon Mining (TSX.V: JAX) (Frankfurt: 0U31) is pleased to
announce two new high-grade gold and silver discoveries 17
kilometres from the Max target at its Hazelton Project in central
British Columbia. These two areas are believed to be structurally
associated and occur over a distance of 2 kilometres. This greatly
expands the areas of known mineralisation at the Hazelton Project,
which now covers more than 39,000 ha.
- Highlights include 6 gold samples from 10.8 to 18.4 g/t gold at
the CRT discovery
- CRT and RS discoveries are 2 kilometres apart and 17 kilometres
southeast of Max
- CRT discovery covers a 600 metre-by-600 metre area
- RS discovery area is 500 metres by 300 metres
Jason Cubitt, President and CEO of Jaxon comments, "The
discovery of a high-grade gold system at the Hazelton Property is
hugely exciting, given that it was always predicted by our model.
These new discoveries in outcrop reinforce for us the truly
district scale high-grade gold, silver and zinc potential."
Approximately 17 kilometres to the southeast of the advanced Max
silver-zinc-gold massive sulphide target where detailed 2017
channel sampling was an exploration focus (see Jaxon Press Release
August 9, 2017), regional prospecting has identified these two new
areas of interest, the Cirque-Ridge-Tarn (CRT) and the Red Spring
(RS) Zones. Of note, these areas continue the trend of known
mineralisation at Hazelton much closer to the historical Cronin
Mine, which Jaxon has announced plans to acquire (see Jaxon Press
Release September 3, 2017). Cronin is a past high-grade
silver-zinc-lead-gold mine, 19 kilometres from the Hazelton Project
southern boundary, within the Skeena Arch. The trend from the Max
Zone at Hazelton, through these two new discoveries, and ending at
the Cronin Mine measures over 45 kilometres.
The CRT Zone mineralisation trends east-northeast from the
western cliffs across the cirque valley bottom, and up the eastern
rusty wall of the cirque for approximately 800 metres, made up of
multi stage, siliceous clast and matrix supported breccias between
1 and 3 metres wide. A stratabound breccia zone measuring
approximately 330 metres in length was the focus of initial rock
sampling over an elevation range of about 60 metres. The CRT
discovery zone now covers an area of 600 metres by 600 metres.
Assays for 31 prospecting samples taken from the CRT area ranged
from 0.056 ppm to 18.4 ppm gold and 18 samples had a gold content
greater than one gram per tonne. In addition, the samples showed
strong Tellurium-Bismuth-Arsenic anomalous elemental association.
Six CRT samples assayed 18.4 g/t, 18.3 g/t, 17.5 g/t, 17.5 g/t,11.3
g/t and 10.8 g/t gold and contained tellurium ranging from 7ppm to
The RS Zone is approximately 2 km east of the CRT mineralisation
and the two discoveries are believed to be associated with each
other. Both have breccia development and quartz-bearing rocks
hosted in altered sediments, exposed above the tree line. The area
of pyritic sulphide mineralisation is 500 m long and 300 m wide and
overprints magnetite alteration in sediments. The RS area is also
intruded by small argillized granitic bodies. An initial
prospecting program included 27 select grab, hand sized, rock
samples and up to 5-metre-long composites collected throughout the
gossanous area and at various elevations within the cirque. The
rusty -gossanous RS area may have undergone considerable surface
leaching of sulphides as the springs and creek water contain
significant sulphur, manganese and iron contents. Despite this, one
sample returned 284 g/t silver and 4.1 % zinc, and a number of the
RS samples have anomalous copper results.
Jaxon plans to conduct more detailed exploration at the CRT and
RS areas as well as other prospective precious metal areas at
Hazelton, and has staked additional claims to the south of the
discoveries covering 5,514 ha. This brings Jaxon's land holdings at
Hazelton to 39,297 ha. Advanced exploration also continues on the
established Max target at Hazelton, where multiple zones of
sulphide mineralisation are being analyzed.
The technical information present above is historical in nature
from previous operators and has not been verified by Jaxon.
However, Jaxon intends to use these results to focus its future
Technical information in this news release has been reviewed
and approved by
, P. Geo, a qualified person as defined in National Instrument
Jaxon is a base and precious metals exploration company with
a regional focus on Western Canada. The company is currently
focused on advancing its Hazelton Project in north-central British
Columbia and the More Creek Project (consolidating the Wishbone and
Foremore properties) in BC's Golden Triangle.
ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINING INC.
Jason Cubitt, President.
For further information regardi
604-608-0400, Toll free: 1-877-608-0007.
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