PJX raises $6.3 million for B.C. gold, critical minerals projects – Resource World Magazine

PJX raises $6.3 million for B.C. gold, critical minerals projects – Resource World Magazine

PJX Resources Inc. [PJX-TSXV] said it has completed a $6.3 million non-brokered private placement and has commenced exploration of critical mineral and gold targets in southwestern British Columbia. The company issued units on a non-flow through basis, flow-through basis, and Charity flow-through or Charity Flow-through Critical Minerals Unit basis. The subscription prices for each of the foregoing are $0.125 per unit, $0.15 per flow-through unit, $0.168 per charity flow-through unit and $0.18 per charity flow-through critical minerals unit. PJX shares were unchanged at 17.5 cents, Thursday, and trade in a 52-week range of 24.5 cents and $0.08. PJX has consolidated 100% of the mineral rights to the largest land package (750 square kilometres) in the historical Sullivan Mine District and Vulcan Gold Belt near Cranbrook and Kimberley. It is working in a mining district with excellent road, rail and power infrastructure with a workforce and communities that are familiar with mining. “This financing will allow PJX to focus on two priority discovery opportunities for critical metals and gold in an established mining district. An initial 4,000-metre drill program has commenced to test for potential Sullivan-style sedimentary exhalative (Sedex) critical-metals discovery on the Dewdney Trail property,’’ said PJX President John Keating. “At the Zinger property, prospecting, mapping and surface sampling for gold are underway at the Gar target in advance of receiving permits to drill a potential reduced intrusion related gold system (RIRGS) for the first time,’’ he said. “Together these targets give PJX a rare opportunity to pursue two district discovery catalysts in a proven mining district with strong infrastructure advantages.’’ At the Dewdney Trail property, PJX has identified three prospective target areas, Estella Basin, Lewis Ridge, and Grundy Creek, each with potential to host a Sedex-type deposit. The Estella Basin is the most advanced target with Sullivan style and grade mineralization identified in surface boulders. In 2025, drilling intersected the Quake Zone, an estimated 30-metre-thick horizon entirely anomalous in zinc, lead, silver, cobalt, gold, cadmium and gallium. These results point to a significant mineralizing system and provide clear vectors for follow-up exploration. The opportunity is further strengthened by its location approximately 25 kilometres east of the historical Sullivan mine, which operated for more than 90 years and produced more than 297 million ounces of silver, 8.4 million tonnes of lead and 7.9 million tonnes of zinc, plus additional gold, tin, copper, cadmium, antimony and bismuth in concentrate, according to the British Columbia Ministry of Mines. At the Zinger property, the undrilled Gar target offers a compelling potential RIRGS gold opportunity with visible gold, strong geochemical and geophysical support and geological characteristics similar to Snowline Gold Corp.’s [SGD-TSX] Valley RIRGS discovery in the Yukon, PJX has said.