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PJX Resources - Sullivan Mining District - Intrusive Related Gold, Copper, Cobalt Target Identified on the Eddy Property
TORONTO, ON / ACCESSWIRE / November 22, 2021 / PJX Resources Inc. ("PJX" or the "Company") i...
About this update from Pjx Resources Inc.
[{"type":"text","content":"PJX Resources - Sullivan Mining District - Intrusive Related Gold, Copper, Cobalt Target Identified on the Eddy PropertyTORONTO, ON / ACCESSWIRE / November 22, 2021 / PJX Resources Inc. (\"PJX\" or the \"Company\") is pleased to announce that compilation of historical data and recent work have identified gold, copper, and cobalt mineralized zones above what may be a series of intrusives at depth on its Eddy Property. The 4km by 5km target area has potential to host intrusive related copper, gold, and cobalt type deposits as well as orogenic type gold deposits. Possible intrusives at depth are defined by ring shaped features identified by an airborne magnetic survey flown for PJX.This new target area, called the Wuho Creek target, occurs on the northern part of PJX's Eddy Property located in the Vulcan Gold Belt of the Sullivan Mining District near Cranbrook, southeastern British Columbia, Canada.Copper, silver, cobalt and gold mineralization in a 2007 drill hole in conjunction with iron-oxide breccia outcrops with gold mineralization, cobalt in stream sediments, and large clay altered areas at surface support the potential to also discover a possible IOCG (Iron-Oxide-Copper-Gold) type deposit at depth. The Olympic Dam mine, in Australia, is an example of an IOCG type deposit.HighlightsHistorical hole (Z-07-01) drilled in 2007 by previous explorers on the Zeus zone in the Wuho target area intersected 10m of 1.23% copper within a broader 57m (116-173m) interval of 0.60% Copper, 3.8 g/t silver, 87 g/t bismuth, 36 ppb gold, 64 ppb cobalt. (see photo A below).Copper, silver, cobalt and gold mineralization occur within tectonized and intensely altered sediments with quartz, albite, abundant pyrite, and local chalcopyrite from 69.8-219.4m in hole Z-07-01.Highest gold (517.1ppb) and cobalt (266.4ppm) as an individual analysis was from 218.5 to 219.4m.VTEM airborne magnetic survey flown for PJX has identified ring shaped features that may represent ring structures formed by collapsed intrusives at depth. (Figure 1 below)Large mineralizing systems that form large deposits can occur where multiple phases of intrusives have collapsed at depth and release fluids and gas that transport gold, copper and other elements which can become trapped in the top of the intrusive or proximal country rocks and form deposits.One large primary ring feature...