The IP survey results define a large annular IP chargeability anomaly interpreted as propylitic alteration. The MT survey results show a deep central conductive MT anomaly further lighting up the deeper porphyry target. The MT survey results vector in on the porphyry at the same target area as the comparative modeling of surface geochemistry produced by Fathom Geophysics in early 2021. Fathom identified the Netalzul Mt porphyry system and provided directional vectors to its location using their comparative porphyry vectoring model. As a result of this modeling exercise, Netalzul Mt is the priority and most advanced of seven epithermal porphyry system exploration projects on Jaxon's 100% owned
In 2021, Jaxon drill tested locations inside the propylitic alteration over the deeper porphyry target where multiple zones with high-grade, epithermal, polymetallic sulfide quartz veins had been identified. As a result, Jaxon has confirmed the presence of a large number of monzonite dykes and monzonite altered granodiorite. The monzonite is attributed to the deeper porphyry system. Monzonite dykes are classically associated with, are generated by and are signatures of a large porphyry system. The discovery and identification of the monzonite dykes supports Jaxon and Fathom's modeling which projects the location of the copper/molybdenum porphyry system at a depth of 800 m within Netalzul Mt.
SJ Geophysics conducted a high resolution and deep penetrating DC resistivity, Voltara 3D induced polarization (IP) and MT geophysical survey in September and October of 2021. The MT survey will be reprocessed in early 2022 to provide a more precise 3D projection of the porphyry system at depth. The IP survey shows that the faults structurally control the location of the deeper porphyry system. In the 2022 summer work season, Jaxon's consulting structural geologist will confirm the extent to which these faults control the location and the shape of the deeper porphyry system and also examine how these same faults control/influence the propylitic alteration zones with their nearer-to-surface, epithermal sulfide quartz veining mineralized areas.
Highlights of the 3DIP/MT Survey Results at
A large (2.5 km x 2.3 km) annular resistivity and chargeability anomaly has been identified. The strong chargeability anomaly is interpreted as due to pyrite in the propylitic zone surrounding a deep porphyry centre. The small chargeability features within the annular anomaly are of classic chalcopyrite chargeability likely caused by the mineralized monzonite dykes.
These chargeability, resistivity and magnetic features are analogous to
A deep northwest trending fault structure has been identified in the centre of the annular chargeability anomaly. This fault controls the location of the targeted porphyry system at Netalzul.
A large, deep magnetotelluric conductivity anomaly at the central north surveying area is identified within the annular chargeability anomaly and is interpreted to be a large porphyry system at depth.
These results confirm the previously defined Rocks 1 and Soils 1 geochemical targets based on the porphyry footprint modelling by Fathom Geophysics in early 2021.
The annular chargeability anomaly is open to the southeast where there is strong magnetic anomaly from the granite intrusion and where IP surveying will be conducted in 2022.
This survey has resulted in the discovery of an annular high chargeability zone (2.5 km x 2.3 km) surrounding the geochemically defined soil and rock porphyry targets. The new chargeability anomaly is best developed below 200 metres. The MT anomaly at a depth of 1000 m confirms previous models and interpretations of the porphyry.
Mr.
Statement from Chairman and CEO
'We now have the porphyry target in sight. The 3DIP/MT survey has given us confirming evidence that we are sitting on top of the porphyry target we previously defined. We are now preparing to properly drill test this deep porphyry system in 2022. The drill test will indicate the scope and scale of, and the grades contained in the mineralized shells around the core of the porphyry.'
'Given the size and intensity of the geochemical and geophysical anomalies that identify the system, Netalzul has the potential to host one or more systems with commercial volumes of high-grade, copper-molybdenum mineralization. Jaxon intends to demonstrate in 2022 that Netalzul hosts one of the highest grade and largest porphyry systems discovered to date in BC. The Netalzul porphyry is in a setting that will allow it to be developed and commercially advanced as an underground operation.'
'Fathom's comparative vectoring model places the Netalzul porphyry system at 800 m. The raw MT data will be sent to MDRU at UBC, or to another centre of geophysical inversion excellence, to be reprocessed to produce a 3D inversion. The results from the 2021 LiDAR survey will be utilized to correct the tops in the MT survey data.'
'In Q1-Q2 of 2022, the updated and reprocessed data set will be sent to Fathom to be rerun in their porphyry comparative vectoring model. Fathom's modeling results will be utilized to more precisely vector in on and further refine the location of the porphyry to determine more exact drill targets. Jaxon expects the 2022 porphyry system drill test to involve three to five drill holes for a total of 5,000 metres. In advance of drilling, Jaxon's consulting structural geologist will walk and map the target area to confirm the structural controls on and the setting of the deeper porphyry system. In 2022, Jaxon's priority is to drill demonstrate the scope and scale of the Netalzul porphyry system.'
About
About
Contact:
Tel: 604-558-2630
Email: info@kayewynn.com
This news release may contain forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release may include, but is not limited to, the Company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames, or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
(C) 2022 Electronic News Publishing, source