Tuesday, 28 February 2012

PJX Resources unveils focused exploration plans for Dewdney Trial in 2012

PJX Resources (CVE:PJX) provided Monday an update on its Dewdney Trail property in southeast British Columbia, which supports the potential for sediment-hosted-vein (SHV) type gold deposits at the site.
SHV deposits are some of the largest gold deposits in the world, such as the 20 million ounce Sukhoi-Log gold deposit in Russia, and the over 80 million ounce Muruntau gold deposit in Uzbekistan.
The company said it completed a preliminary exploration program late last year that included prospecting, trenching and drilling to obtain a more representative sample of the unit, and to identify structural controls that could relate to mineralization on the Dewdney Trail asset.
The results have been compiled with existing geological mapping, surface sampling and geophysics to prioritize targets for trenching and drilling on the Dewdney Trail property in 2012.
PJX said that surface mapping and prospecting has identified areas with anomalous gold mineralization along a 13 kilometre trend of "quartz-sericite-carbonate altered quartzite and interbedded argillites".
Trenching and trail building, the company added, show the 13 kilometre unit could be over 250 metres in true width. Areas in the unit with more intense alteration and veining are said to consistently host anomalous gold mineralization ranging from 10 parts per billion (ppb) to over 10 grams per tonne (g/t) of gold.
Four holes were drilled in the M1 target area of the property in order to better assess the gold potential of the vein/fracture sets that have varying orientations, the company said.
The drilling confirmed that anomalous gold mineralization is most often associated with the more altered, veined and fractured sections of the interbedded quartzites and argillites.
"The altered and veined zones in the drill core consistently contain anomalous gold ranging from 10 ppb up to 600 ppb.  This low grade mineralization supports the potential for SHV deposits where a halo of anomalous gold mineralization can occur in rock units hosting ore deposits," PJX said in a statement Monday.
Additional exploration is required along strike and/or at depth, it added, to help understand which direction would be "most favourable" for hosting a deposit.
The M1 target area is a magnetic anomaly approximately 600 metres wide by over one kilometre in strike length.  Drilling was done on one part of the target area that was approximately 100 metres wide by 250 metres along strike.
The area is one of over 20 geophysical target areas along the 13 kilometres of prospective geology on the Dewdney Trail property.
In addition, the company said that the compilation of historical and recent exploration work has found further promising areas at the site.
SHV deposits typically occur in argillite rock units proximal to the axis of folds where the ground has been more intensely fractured to allow ore mineralizing fluids to circulate and deposit gold through the rock.
PJX said that the interpreted fold axis in the Lewis Creek area has anomalous gold in the soils for more than 1.5 kilometres along the interpreted fold axis, with this anomaly remaining open to the north-west.
Gold is also anomalous in soils over a large area in the Tackle Creek drainage, with prior exploration supporting the potential for an intrusive, possible porphyry, hosted gold deposit.
The large Lewis Creek, M1, and Tackle Creek targets, along with other target areas, will be the focus of further exploration on the Dewdney Trail property in 2012.
President and CEO, John Keating, said: "We are looking forward to a very successful 2012 exploration season.  Our recent results confirm that gold has been introduced into the rocks over wide areas on the Dewdney Trail Property.
"Our enhanced understanding of the factors controlling the gold mineralization will help focus exploration activities to increase the potential to discover a gold deposit."

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