Hello Guest User, You are visiting this website from a computer with an IP address of 172.70.100.67 with the name of '?' since Sat Apr 27, 2024 at 2:50:31 PM PT for approx. 0 minutes now.
Thu Feb 29, 2024 KW Excerpt: Kaiser Watch February 29, 2024: PJX Resources Inc (PJX-V) Publisher: Kaiser Research Online Author: Copyright 2023 John A. Kaiser
(0:09:26): Did you not just have PJX Resources at the recent January Metals Investor Forum in Vancouver?
PJX Resources Inc was part of my session at the Vancouver MIF so Kaiser Watch fans will already be familiar with that story, which is that the century long hunt for Sullivan Two could finally deliver success in 2024 when drilling starts at the Dewdney Trail project in southeastern British Columbia. Not much will change in terms of fundamentals until drilling gets underway in June, though we may see new interpretations of existing geophysical data between now and then. Confirmation may take a couple months of drilling because the outcropping horizon they found late last year is interpreted as peripheral to the likely vent center for the Sedex system. The reason for his assessment is that zinc-lead-silver mineralization in the outcrop is non-magnetic compared to the boulders found in the talus at the base of the slope to the south. The magnetism is caused by pyrrhotite, an iron sulphide which tends to be part of the massive sulphide pile that builds up over the vent. So the drilling strategy will be one of starting with the outcropping horizon to develop an understanding of the stratigraphic controls and vector towards the area above the talus field. Meanwhile field crew will continue to prospect upslope from the talus field to try to find the erosional windows within the syenite dyke sheet from which the magnetic massive sulphide rocks spilled. If they are successful the drill will likely be moved to test the stratigraphy where the greatest potential for a major discovery resides. That is why discovery hole confirmation that sends the stock through the roof is not likely until August.
It is interesting that Adam Travis' Coast Copper Corp has staked 5,134 hectares on the eastern flank of the 13,500 ha Dewdney Trail property. I asked PJX CEO John Keating why PJX had not expanded its property to include this area. His response was that the rocks in this direction are Cambrian aged which is significantly younger than the rocks that host Sullivan as well as the outcrop stratigraphy which is slightly younger than the Sullivan Time Horizon. He does concede that Coast Copper's Sully property is prospective for the younger 150 million year old or so intrusions that PJX was chasing at the start of the 2023 field season.
The soil geochemistry at Dewdney Trail and the deep geophysics suggests that there is a lot going on in this area in terms of younger intrusive activity that never made it to surface except in local instances like the syenite dyke sheet which PJX explored last year. These would have created copper-gold systems rather than the much older zinc-lead-silver Sullivan type Sedex systems from 1.5 billion years ago. There is no guarantee that the Sedex target will turn out to be Sullivan scale, or even half that, but there will be enough visuals during exploration to fuel anticipatory speculation that could enable PJX to raise a lot more money at higher prices. Some of that money could be used to drill these deeper blind targets, and if these deliver evidence of the intrusion related gold systems Keating thinks the structural framework in this area made possible, not only would that turn Dewdney Trail into two distinct exploration plays, but it would also spark interest in Coast Copper's Sully property to the east. But that is getting ahead of ourselves. Normally I do not allow a junior to be part of my session in successive MIF conferences unless something dramatic has changed, but this story is so interesting that I felt the Toronto audience should have a chance to see it. The Dewdney Trail Sullivan Two hunt could turn out to be a huge discovery play whose serendipitous origins would be an inspiration for all serious discovery oriented exploration juniors.
Regional Map & PJX Property Map
Geology Map showing Sullivan in relation to potential Sullivan Two
Deedney Trail Map with Coast Copper claims
Magnetic Geophysical Map for Dewdney Trail
Sample Results for Dewdney Trail
Photo View of Sullivan Two Target
Conceptual Section showing location of dyke relative to stratigraphy
