Tuesday, 6 March 2012

PJX Resources finds large gold trend on Zinger property

PJX Resources  (CVE:PJX) said Friday it has identified a large gold trend on its Zinger property in British Columbia.
The company announced results to date from the mapping, geochem and geophysics program on the property.
Gold geochem work and mapping included bedrock grab samples that found gold mineralization over an area eight kilometres long and two kilometres wide.
Since 2008, around 1,380 grab samples of bedrock were collected and analyzed. Of these, 750 samples reported analyses above 20 parts per billion (ppb) gold, including 86 samples ranging from 0.5 grams per tonne (g/t) to 1.0 g/t, 101 samples ranging from 1.0g/t to 5.0 g/t, and 37 samples equal to or greater than 5.0g/t.
The highest value reported was a whopping 39.6 g/t gold.
The company said the results from this program indicate that anomalous gold mineralization appears to occur along bedding planes, with higher concentrations of gold in veins, and zones perpendicular to, or at oblique angles to, bedding within quartzites.
Within the geophysics part of the program, Geotech completed a detailed 340 kilometre electromagnetic and magnetic airborne geophysical survey over the entire mineralized area on the Zinger property last November.
The electro-magnetic data identified a large resistive zone at depth that is coincident with and outlines the majority of the gold mineralization.
PJX said this zone may be an intrusive or a large area of more intense silicification and alteration, associated with gold mineralization.
In addition, the magnetic data identified a 5 kilometre long magnetic trend that is coincident with some of the highest grade gold analyses in rock.
Based on these results, PJX's 2012 summer exploration program will focus on the highest concentrations of gold and "best geophysical features", which will include further detailed mapping and a planned drilling program, it said.
"PJX is very encouraged with the development of the Zinger target areas," said president and CEO, John Keating.
"This is the largest virtually untested gold trend that I have seen in my years of exploration. One explanation for why a gold deposit has not been found to date is because the deposit may not come to surface.
"The ability of airborne geophysics to explore at depth helps narrow our search and may be the key to unlocking the location of potential gold deposits."
The road-accessible Zinger property is located 24 kilometres west of Cranbrook, British Columbia and covers 12,400 hectares over a 20 kilometre strike length.
The Zinger target areas, combined with the large gold targets developing on the Dewdney Trail property, increase the company's potential for a discovery, PJX added.
Separately, PJX said that it has flown an airborne geophysical survey over the 14,600 hectare Eddy property in the Cranbrook area, which has both gold and copper potential.
The data is being compiled and results from this work will be announced in the near future, the company said.
PJX's primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.

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