PJX Resources Inc. ('PJX') has intersected massive sulphide with anomalous cobalt (Co), copper (Cu), nickel (Ni) and silver (Ag) in a quartz-dolomite gangue in metasediments that is possibly similar in style to mineralization at the Black Butte copper-cobalt deposit located to the south in Montana.
Mineralization was intersected while drilling Mobile-MT electromagnetic (EM) and magnetic geophysical anomalies at the Lewis Ridge target late last year on the Dewdney Trail Property. The mineralization occurs approximately 3 kilometres north of alkalic intrusive related gold-copper-silver mineralization at PJX'S previously announced Estella Basin target in the Sullivan Mining District and Vulcan Gold Belt of southeastern British Columbia, Canada.
John Keating, President of PJX commented: 'This was the first phase of drilling to test EM and magnetic anomalies at the more than 2.5 km long and 1.5 km wide Lewis Ridge target area. Our initial thinking was that geophysics identified potential Sullivan-type zinc-lead-silver mineralization. However, drilling has discovered potential for sediment hosted copper-cobalt type deposits possibly similar to those that occur east of Butte, Montana. PJX plans to further explore and drill the Lewis Ridge copper-cobalt target area, and the previously announced new Estella Basin intrusive-related gold-copper-silver target area this year.'
Background
Geology
Four holes (LR22-01 to LR22-04) were drilled late last year at the Lewis Ridge target to test EM and magnetic anomalies defined by an airborne Mobile-MT (EM) and Magnetic survey flown for PJX by Expert Geophysics.
Hole LR22-02 intersected massive sulphide mineralization consisting of fine to coarse grained pyrite that has a somewhat net-textured appearance and is fractured or brecciated possibly due to folding.
The 1.42 m wide (drill width) zone with 60% massive sulphide in quartz-dolomite gangue was intersected from 125.87m to 127.29 m down hole, and analyzed 644 ppm (0.06%) Co, 819 ppm (0.08%) Cu, 144 ppm Ni and 2.66 ppm (2.6 g/t) Ag.
The sulphide zone appears bedding parallel and possibly stratabound similar to Black Butte massive pyrite mineralization containing Co, Cu, with anomalous Ni and Ag.
Black Butte massive pyrite locally contains tennantite (arsenic mineral); Lewis Ridge massive sulphide has 1187 ppm arsenic.
Black Butte occurs with black shales that are correlative with the middle Aldridge geological formation. Lewis Ridge target occurs at the base of locally black graphitic and/or calcareous silts and argillites of the middle Aldridge.
Black Butte occurs in the Helena Embayment, a shallow water environment on the east side of the Belt-Purcell rift basin and east of the Butte intrusive related Cu-Molybdenum-Ag deposits. The Lewis Ridge target area is a shallow water environment on the east side of the Belt-Purcell basin, and east of the Sullivan sediment hosted Zn-Pb-Ag deposit.
Black Butte mineralization is associated with an east-west fault called Volcano Valley. The east-west Kimberley Fault influenced the formation of the Sullivan Deposit. The Jackleg fault at Lewis Ridge may be the eastern extension of the Kimberley fault Volcano Valley, Kimberley and Jackleg are all considered to be transverse faults in the Belt-Purcell basin.
Lewis Ridge Target occurs along a large north-south oriented west dipping overturned anticline, and at the equivalent geological time to the Sullivan deposit located about 25 km to the west.
Geophysics - Drilling
The Lewis Ridge zone with massive pyrite, and the overlying locally graphitic and/or calcareous sedimentary rocks are both conductive rock units. Their conductive nature help explain the large EM apparent conductivity geophysical anomaly. However, the 2 units, along with mafic sills intersected, are not magnetic and do not appear to account for magnetic anomalies.
Cu-Co deposits also occur in Idaho. Pyrite is known to replace pyrrhotite in some of these deposits. Pyrrhotite is often magnetic. If the same type of replacement occurs at Lewis Ridge, then any pyrrhotite not replaced by pyrite may generate a magnetic anomaly.
Hole LR22-01, drilled toward the northeast (Az 047, dip -75), intersected locally graphitic and calcareous sediments above the quartz-carbonate zone from 111.67-116.12 m. The 4.45m (drill width) zone contained minor sulphide veins and a weighted average analysis of 2410 ppm Cu with low Co, Ni, and Ag.
Hole LR22-02, was drilled toward the southwest (Az 227, dip -80) from the same drill pad as LR22-01.
Hole LR22-03, was also drilled toward the southwest (Az 227, dip -45) and encountered what appear to be west dipping faults and was abandoned when the hole was becoming stuck in a fault zone.
Hole LR22-04, was drilled toward the northeast (Az 047, dip -80) to drill across the west dipping faults and test the large EM and somewhat coincident magnetic anomaly at depth. The 800 m hole drilled along the eastern limb of the overturned anticline fold and across a series of faults. This resulted in the hole remaining within the locally graphitic and/or calcareous sediment unit, and therefore did not test the potential horizon with cobalt and copper mineralization at depth that is stratigraphically lower.
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 and base metals (copper, cobalt, lead zinc, and other metals). PJX's primary properties are located in the historical Sullivan Mine District and Vulcan Gold Belt near Cranbrook and Kimberley, British Columbia.
Contact:
Tel: (416) 799-9205
Email: info@pjxresources.com
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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.
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