Jaxon Minerals chief outlines busy last six months as it consolidates Hazelton property

Jaxon Minerals Inc‘s (CVE: JAX) Jason Cubitt has outlined to shareholders a busy last six months for the mining group, since he joined as president and chief executive.

The firm has acquired projects in two of Canada’s most prolific districts – the Skeena Arch and the Golden Triangle.

At the Skeena Arch, the firm acquired a 3,000-hectare property containing a historical mineral showing called the Knoll, with which it has integrated data with a second mineral occurrence called Max, 2km north west of Max.

Max boasts bonanza silver grades..

The Max boasts bonanza silver grades at surface over a 500-metre vertical extent and a one-square-kilometre mineralized zone, it said.

Based on new interpretation, Jaxon has now increased its 100% controlled landholdings from 3,000 hectares to more than 8,000 hectares, largely through staking, and consolidated the group into a single property called Hazelton.

The firm now plans to evaluate what is happening below the surface at the high-grade structures of the Max zone ahead of scheduled drilling this season.

A second property in Wishbone…

Jaxon acquired a second property, a 4,000-hectare precious-metal- and base-metal-rich prospect called Wishbone in British Columbia’s famed Golden Triangle -  60km  north of Eskay Creek.

“While we are focused on developing the Hazelton property toward drilling this season, we plan to devote a portion of time and resources to produce a better understanding of the structure, setting, and high-grade gold and silver mineralization present at the Wishbone,” said the chief executive.

“At the end of calendar 2016, with resource markets showing renewed vigour, the company made a strategic decision to rebuild its portfolio of projects,” Cubitt added.

“The focus on shallow marine volcanogenic massive sulphide (VMS) projects was key to this strategy. These deposit types (Eskay Creek, Equity Silver) form some of the richest and most profitable mines in the world -  characterized by shallow structural controls and bonanza-grade precious and base metals.”

Shares shed 3.57% to $0.135.

Story by ProactiveInvestors