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Jaxon Mining to focus on newly discovered Red Springs target when Hazelton exploration starts next month

Wednesday, May 16, 2018 8:41
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Metals explorer Jaxon Mining Inc (CVE:JAX) will kick-start exploration at the Hazelton project in BC next month (June), it said.

The company will initially focus on the newly discovered Red Springs target within the same Hazelton project area, 50km north of Smithers in the Skeena Arch area.

Concurrently, reinterpretation and analysis of geophysics data from last year’s fall program will continue at the Max silver, zinc project.

The first phase of work at Red Springs will take six weeks and the aim is:

To define the extent, distribution and geometry the of high-grade gold-mineralized breccia occurrences at surface.

To define the genetic and spatial relationships between the large porphyry alteration zone and the mineralized breccias.

To establish high-priority drill targets for a scheduled summer 2018 drill program.

Prospecting in the tail end of last year saw a total of 49 surface samples from  breccia exposures on the western side of the Red Springs alteration zone collected.

Jaxon said 26 of these were gold-bearing and eight of which contained gold ranging from 10 grams per tonne gold to 33 g/t (grams per ton) gold.

The identified area of breccia occurrences and alteration is around 36 sq km in size and Jaxon is pursuing  the notion that the high-grade gold breccias are a manifestation of a significant porphyry system at depth.

Jaxon shares eased  3.57% to C$0.14.

Story by ProactiveInvestors


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