Jaxon Discovers High-grade Au/Ag/Cu in Polymetallic Quartz Sulfide Mineralization at Netalzul Mountain, with Silver Grades up to 1641 g/t, Gold Grades up to 5.91 g/t and Copper Grades up to 3.46%

Vancouver, British Columbia–(Newsfile Corp. – August 25, 2020) – Jaxon Mining Inc. (TSXV: JAX) (FSE: OU31) (OTC: JXMNF) (“Jaxon” or the “Company”) is pleased to announce it has received the final assay results from the 2020 Phase One surface rock sampling program at Hazelton. Multiple high-grade, quartz sulfide mineralization zones with silver grades of up to 1641 g/t, gold grades of up to 5.91 g/t and copper grades of up to 3.46% have been discovered at Netalzul Mountain AOI.

A total of 70 rock samples were collected from the Red Springs and Netalzul Mountain AOIs (Figure 1). All samples were assayed at MSALABS in Langley, B.C., Canada by IMS-128 for 39 elements, FAS-111 fire assay for gold with ICP-ES finish and MET-440 for 29 elements for ore grade samples. Significant assay results are listed in Tables 1 and 2.

Netalzul Mountain AOI

Netalzul Mountain AOI (https://bit.ly/3l82xHc) is a polymetallic Au-Ag-Cu-Mo-W-Sb-Pd and polymetallic porphyry mineralization target, covering 62.06 km2 (Figure 1). The 2020 surface sampling program focused on historical artisanal workings at the centre of the AOI, at the Daisy and Ellen claims and their surrounding areas. 18 outcrop chip or grab samples were collected (Table 1, Figures 2 to 4).

Assay Result Highlights

  • One combined grab sample from the artisanal adit 1 area contains gold equivalent grades of up to 18.81 g/t, which includes gold grades of up to 5.91 g/t, silver grades of up to 623 g/t and copper grades of up to 3.46% (Figures 2, 4).
  • One 2-metre outcrop chip sample from quartz sulfide vein at the adit 1 area contains gold equivalent grades of up to 8.90 g/t, which includes gold grades of up to 1.59 g/t, silver grades of up to 411 g/t and copper grades of up to 0.71% (Figures 2, 4).
  • 5 metre outcrop chip samples from the artisanal adit 2 area contain gold equivalent grades of up to 17.10 g/t, which includes gold grades of up to 2.30 g/t, silver grades of up to 748 g/t, copper grades of up to 1.17%, lead grades of up to 2.74% and antimony grades of up to 0.89% (Figures 3, 4); and includes one metre chip sample containing gold equivalent grades of up to 31.76 g/t with a gold grade of 3.96 g/t, silver grade of 1641 g/t, copper grade of 2.73% and antimony grade of 2.25%.
  • Three samples (A0027252, A0027240 and A0027199) collected along a large fault/contact zone striking between the granite and hornfels (Figure 5) contain up to 0.33% molybdenum and 0.85% tungsten. This zone also contains historical high-grade sample NATMR006 which had previously been reported with assay results of >1% Cu, >1% Pb, >100 g/t Ag and 2.26 g/t Au (Assessment Report 32043).

Red Springs AOI

At Red Springs AOI, 52 grab or chip rock samples were collected from Northwest Cirque and its surrounding area (Figure 1, Table 2).

The rock sampling program and surface prospecting work confirmed a potential extension of the gold-bearing tourmaline breccia mineralization zone to Northwest Cirque from Main Cirque and North Cirque, and connection to the diorite intrusion at Northwest Cirque (Figure 6).

Assay Result Highlights

  • Gold-bearing tourmaline breccia mineralization veins/zone existing in the hornfels and diorite intrusive at the Northwest Cirque area containing gold equivalent grades of up to 3.18 g/t including Au @2.36 g/t, Co @0.13% and Cu @0.07% (Sample A0027182, Table 2).
  • Biotite granite at Northwest Cirque with molybdenum grades of up to 0.37% (Sample A0027156).
  • Granodiorite porphyry outcrop sample, from the Primary Ridge porphyry target, with copper grades of up to 0.28% (Sample A0027233).

Cannot view this image? Visit: https://www.miningstockeducation.com/wp-content/uploads/2020/08/62419_1030ef6a245ce945_001.jpg

Figure 1. 2020 Rock Sampling Location and Hazelton AOI Map

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/881/62419_1030ef6a245ce945_001full.jpg

Cannot view this image? Visit: https://www.miningstockeducation.com/wp-content/uploads/2020/08/62419_62419_1030ef6a245ce945_002a.jpg

Figure 2. Samples from Artisanal Adit 1 Area: (Left) Grab Sample; (Right) 2 m Outcrop Chip Sample

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/881/62419_1030ef6a245ce945_002full.jpg

 

Cannot view this image? Visit: https://www.miningstockeducation.com/wp-content/uploads/2020/08/62419_1030ef6a245ce945_003.jpg

Figure 3. Quartz Sulfide Mineralization Zone and Chip Sample Location at Outcrop at Artisanal Adit 2 Area

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/881/62419_1030ef6a245ce945_003full.jpg

Cannot view this image? Visit: https://www.miningstockeducation.com/wp-content/uploads/2020/08/62419_1030ef6a245ce945_004.jpg

Figure 4. Rock Sample Map with Gold Equivalent Grades at Netalzul Mountain AOI

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/881/62419_1030ef6a245ce945_004full.jpg

Cannot view this image? Visit: https://www.miningstockeducation.com/wp-content/uploads/2020/08/62419_1030ef6a245ce945_005.jpg

Figure 5. High Grade W+M Mineralization Zone at Netalzul Mountain AOI

To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/881/62419_1030ef6a245ce945_005full.jpg

Cannot view this image? Visit: https://www.miningstockeducation.com/wp-content/uploads/2020/08/62419_1030ef6a245ce945_006.jpg

Figure 6. Gold-bearing Tourmaline Breccia Mineralization Zone at Red Springs AOI

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/881/62419_1030ef6a245ce945_006full.jpg

Table 1. Significant Assay Results From Netalzul Mountain AOI

Sample ID Easting Northing Descriptions Au (ppm) Ag (ppm) Cu % Mo % Pb % Sb % W % EqAu (ppm)
A0027193 627053 6129247 1.5 m chip sample, quartz vein with semimassive sulfides in the adit 2 area 0.14 85 0.12 0.10 0.02 0.18 0.01 2.06
A0027194 627053 6129247 1 m chip sample, quartz vein with semimassive sulfides in the adit 2 area 0.02 13 0.03 0.08 0.01 0.01 0.01 0.60
A0027195 627053 6129247 1 m chip sample, quartz vein with semimassive sulfides in the adit 2 area 3.96 1641 2.73 0.01 0.79 2.25 0.01 31.76
A0027196 627053 6129247 2 m chip sample, quartz vein with semimassive sulfides in the adit 2 area 3.16 863 0.90 0 0.20 0.90 0.01 16.85
A0027197 627053 6129247 2 m chip smaple, quartz vein with semimassive sulfides in the adit 2 area 0.61 188 0.68 0.00 6.26 0.20 0.01 10.01
A0027198 627003 6129434 2 m chip sample, quartz vein with sulfides in a fault breccia zone in Daisy claim 0.01 1 0.01 0.01 0.03 0.01 0.01 0.18
A0027199 626417 6129949 5 m grab sample, quartz vein with sulfides in Daisy claim in the contact zone between hornfels and granite 0.03 5 0.11 0.11 0.01 0.01 0.02 0.79
A0027200 626417 6129949 1m chip sample, felsic porphyritic dyke with disseminated sulfides in Daisy Claim in the contact zone between hornfels and granite 0.01 1 0.01 0 0.01 0.01 0.01 0.12
A0027240 626043 6129397 Quartz vein along fracture zone in granite, containing some sulfides. 1 m wide; Distinctly, >100 m fracture zone, multiple quartz veins in the fracture zone in Ellen Claim 0.14 5 0 0.33 0.02 0.01 0.84 7.03
A0027241 626585 6129663 Quartz vein in a fracture zone > 10m in granite, containing some sulfides in Daisy Claim 0.03 27 0.01 0.01 0.01 0.01 0.02 0.60
A0027242 627130 6129195 Quartz vein with significant polymetallic sulfides, >2m wide, adit 1 area, grab sample. 5.91 623 3.46 0.00 0.25 0.82 0.01 18.81
A0027243 627125 6129194 Quartz vein with significant polymetallic sulfides, adit 1 area, chip sample of 2 m wide. 1.59 411 0.71 0.00 0.38 0.69 0.01 8.90
A0027244 627026 6129281 Grab sample, quartz vein with significant polymetallic sulfides in adit 2 area 0.73 93 0.75 0.22 0.09 0.183 0.01 3.91
A0027245 627016 6129285 Grab sample, quartz vein with significant polymetallic sulfides in adit 2 area 0.39 90 0.75 0.06 0.08 0.08 0.01 2.79
A0027246 627016 6129285 Grab sample, quartz vein with significant polymetallic sulfides in adit 2 area 0.17 42 2.11 0.03 0.03 0.03 0.01 3.05
A0027250 627053 6129247 Quartz vein with sulfides in Daisy claim 0.01 1 0.02 0 0.01 0.01 0.01 0.12
A0027251 626261 6129673 Quartz vein with sulfides in Daisy claim in the contact zone between hornfels and granite 0.01 2 0.05 0.02 0.01 0.01 0.01 0.24
A0027252 626014 6129415 Quartz vein with semimassive sulfides in Ellen claim 0.05 2 0 0.18 0.01 0.01 0.21 2.19
AuEq calculated based on Au, USD 1,900/Ounce; Ag, USD 26.00/Ounce; Cu, USD 6,000/T; Co, USD 33,000/T; Mo, USD 24,000/T; Pb, USD 1,800/T; Sb, USD 5,000/T; W, USD 40,000/T

 

Table 2. Significant Assay Results From Red Springs AOI

Au Co Cu Mo EqAu
Sample ID Easting Northing Description ppm ppm ppm ppm ppm
A0027154 610250 6113965 Hornfel with disseminated sulfides and tourmaline vein. 0.01 124.8 2108 1.26 0.31
A0027156 610610 6113885 Biotite granite porphyry float with molybdenite crystal flakes 0.00 8.6 125 3740 1.49
A0027157 610737 6113881 Hornfel with massive sulfide, Rock flow. 2.12 497 2398 3.13 2.64
A0027158 610740 6113814 1-meter wide quartz veins outcrops within large biotite granodiorite stocks 0.24 102 3861 1.15 0.70
A0027161 610707 6113630 Large boulder tourmaline breccia mineralization zone with well developed sulfidation, calcite and quartz veins 0.00 17.6 675 1.27 0.09
A0027162 610594 6113673 Hornfel with massive sulfide. Rock flow. 0.14 72 815 1.06 0.28
A0027167 610776 6113812 Hornfel with massive sulfide, Rock flow. 0.01 186 4786 0.87 0.60
A0027177 611812 6113695 Outcrop quartz tourmaline breccia with semimassive sulfide minerals within >10 meter zone 0.54 1.2 48 4.55 0.56
A0027178 611575 6113769 Strong oxidized diorite with veinlets or stockwork of pyrite and quartz veins near the contact between hornfels and diorite 0.20 153 2381 10.83 0.55
A0027182 611012 6113591 Diorite float with tourmaline and quartz vein, containing some sulfide 2.36 1308 729 4.2 3.18
A0020063 611017 6113597 Float,qtz tourmaline bx in diorite , 10% asp, 2% cpy, 5% py 2.18 1400 520 10 3.02
A0027201 611196 6113750 Strong silicified tourmaline breccia boulder within diorite intrusive area 1.02 2237 4 1.07 2.23
A0027206 611063 6113733 Massive sulfide diorite porphyry 0.02 81 1224 1.66 0.21
A0027211 610894 6114263 Large diorite boulder with with fracture filling and semimassive disseminated sulfides 0.08 57 1820 9.04 0.31
A0027223 610747 6114133 Diorite, Same location with A0027221. Mainly sulfides, strong limonitation 0.15 3 1060 18.24 0.29
A0027224 610747 6114133 Massive sulfides, Same location with A0027221. Mainly sulfides, partially limonitation 0.07 155 3700 5.77 0.55
A0027226 610654 6114067 Diorite Rock flow, tourmaline + quartz vein + sulfide in hornfel 0.21 17 526 6.82 0.29
A0027228 611276 6113651 Diorite with disseminated sulfides, checking samples for previous sample of A0020077 0.01 36 731 0.89 0.10
A0020077 611280 6113650 siliceous rocks with 10% diss po, 2% cpy 0.00 40 540 10 0.11
A0027231 611285 6113569 Rock flow, diorite with significant sulfide, hydrothermal pepple in diorite 0.27 108 305 1.1 0.37
A0027232 612940 6115902 Granite porphyry dyke with sulfides, weak magnetic, 30 cm in width 0.00 9.9 511 1.55 0.06
A0027233 613233 6115754 Biotite granite porphyry with chalcopyrite,malachite, and quartz vein, B anomaly area 0.01 20 2787 36.28 0.34
AuEq calculated based on Au, USD 1,900/Ounce; Cu, USD 6,000/T; Co, USD 33,000/T; Mo, USD 24,000/T

 

Mr. John King Burns, CEO and Chairman of the Board commented, “Our crew is now back in the field at Netalzul, mapping and channel sampling the areas where we just completed the rock sampling. The team is also reviewing the available geophysical and geochemical data; and extending our conceptual geological model of the area to create a picture of the structure that hosts the mineralization. Our major target remains the Cu, Au porphyry system at Red Springs, the elephant that drives the system. The Red Springs porphyry system generated the extensive tourmaline breccia occurrence that marks the major orogenic and metallogenic events that shape Hazelton as a porphyry province. These orogenic events occurred at approximately the same time the deeper basement, late Cretaceous, Laramide events were occurring further south. Our conceptual geological model indicates Hazelton is host to four or more targeted mineralized systems with a myriad of distal offshoots. Netalzul is one of those systems and will be prioritized after Red Springs and before Max and Blunt Mountain. As planned, we are preparing to drill test the Red Springs porphyry system in late 2020. Netalzul was a recent consolidation and the Company is working to secure drilling permits in time for the 2020 field season.”

“It is always exciting to be rewarded with something better than what was expected. Within a short time, our team found the artisanal workings and outcrops with evidence of high-grade Au/Ag and other metals we had been told to look for. The Netalzul area had been non-systemically prospected in the sixties through the eighties. One of those original prospectors, Mr. Martial Levasseur, is now an advisor to the Company. We have taken a page from the infamous Yukon prospector Shawn Ryan; we heard the rumors and are following the footsteps of the old prospectors. We are inspired by the geology we are working with and will continue our disciplined and systematic exploration. Despite market pressure to do otherwise, we will only drill test fully developed and geologically informed targets. The discoveries at Netalzul mark another advance in our understanding of and vision for Hazelton.”

Sample Preparation and Analyses

All samples described in this news release were collected by the Company’s Qualified Professional Geologists. Chip and prospecting samples were collected in the field by experienced, professional geological staff who selected hand samples from outcrop or chip samples. The samples were numbered, described and located in the field for follow-up. Numbered rock samples tags were placed inside each bag, securely closed for transport to the Company’s secure cold storage locked facility in Smithers, B.C. MSALABS of Langley, B.C. received the Rice Bag shipments after secure transport from Smithers. Samples were prepared by crushing, grinding and pulverizing to a pulp with barren material washing between each sample at the crush and pulverizing stages. Then 20 g of pulp was used for the IMS-128 for 39 elements, FAS-111 fire assay for gold with ICP-ES finish and MET-440 for 29 elements for ore grade samples, and MET-440 for ore grade samples. Overlimit silver is determined by Fire ASSAY 415 method. Laboratory standards and QA – QC are monitored by the Company.

Qualified Person

Yingting (Tony) Guo, P.Geo., President of Jaxon Mining Inc., a Qualified Person as defined by National Instrument 43-101, has reviewed and prepared the scientific and technical information and verified the data supporting such scientific and technical information contained in this news release.

About Jaxon Mining Inc.

Jaxon is a precious and base metals exploration company with a regional focus on Western Canada. The Company is currently focused on advancing the Red Springs Project at its 466 km2 Hazelton Property located near Smithers in northwestern British Columbia. In addition to Red Springs, Hazelton hosts three other areas of interest (AOIs): Blunt Mountain, Max and Netalzul Mountain. For more information, please visit https://jaxonmining.com.

ON BEHALF OF THE BOARD OF DIRECTORS

JAXON MINING INC.
John King Burns
John King Burns, Chairman

For more information, please contact:

Investor Relations
Kaye Wynn Consulting
T: 604-558-2630
TF: 1-888-280-8128
E: info@kayewynn.com

Freeform Communications
T: 604-243-0499
E: enquiries@freeform.com

Corporate
T: 604-424-4488
E: info@jaxonmining.com
www.jaxonmining.com

This news release may contain forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties, and other factors that could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release may include but is not limited to, the Company’s objectives, goals, or plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. No assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/62419

Comments are closed.

Free newsletter for stock pics, interview transcripts & investing ideas