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Jaxon Mining Inc.
Summary
| Project: | Red Springs | |
|---|---|---|
| Deposit: | Red Springs | |
| Location: | Canada | |
| Commodities: | Gold-Copper-Cobalt | |
| Date: | 12/4/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-12-2018: Jaxon Mining Inc. announces an Exploration/Drilling Update report for its Red Springs deposit at the Red Springs project. Drilling results incl. 2.0m @ 6.601g/t Au, 1000ppm Co, 16ppm Cu from 88m. Vancouver, British Columbia--(Newsfile Corp. - D | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Yingting Guo (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - December 4, 2018) - Jaxon Mining Inc. (TSXV: JAX) (FSE: OU31) (OTC: JXMNF) (the "Company") is pleased to announce it has received the assay results from diamond drill holes BB18-01 to BB18- 03. The Company is still awaiting the assays results from holes BB18-04 and BB18-05 which were drilled at different angles, azimuths and depths from the same platform used by BB18-03. All 5 holes targeted the Backbone gold-cobalt tourmaline breccia mineralization zones along strike at Red Springs. Located on the Company's 44,000 ha Hazelton property in the Skeena Arch area of northwest British Columbia, Red Springs is only 9 km away from BC Highway 16 (Figure 4). Tourmaline breccia mineralization zones do not exist in isolation; orogenically tourmaline is associated with porphyries. The Company has determined these tourmaline breccia zones are distal to a large system of porphyries. Three porphyry targets have been identified using geophysics (long line ground IP and ground magnetic surveys), geochemistry, structural and alteration mapping following outcrop rock sampling. TonyGuo, Jaxon's COO, commented: "It is an excellent discovery that we have intercepted a total thickness of up to 26 m gold-cobalt tourmaline breccia mineralization zone at BB18-03 which includes 12 m of 2.03 g/t Au equivalent and 2 one m high grade massive sulphide mineralization sections near both foot wall and hanging wall with gold equivalent of 8.10 g/t and 4.97 g/t Au, respectively. It confirms the shallowdip extension of high-grade gold-cobalt tourmaline breccia mineralization from surface outcrop to the down hole 70-90 m in BB18-03 (Figure 1), which has a reported 3.10 g/t Au equivalent for 13 m mineralization outcrop, as reported in the Company's news release dated September 20, 2018. BB18-01 and BB18-02 have intercepted a narrowmineralization at down hole 10 to 20 m near surface. The major mineralization at BB18-01 and BB18-02 have been weathered out considering the 100-m elevation difference between BB18-01/02 and BB18-03 (Figure 2). The Company plans to drill more holes in 2019, to the north of BB18-03, in close proximity to the Backbone tourmaline breccia centre or to the west of the current BB18-01 to BB18-03 connection line." | |
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