Jaxon Discovers High Grade Silver with Telluride at Hazelton Project
Vancouver, British Columbia (Newsfile Corp. - September 25, 2017) - Jaxon Mining Inc. (TSXV: JAX) (FSE: 0U31) is pleased to announce the acquisition of 3 mineral claims totaling 129.1 ha, known as the Skilokis Property, located about 6 kilometres to the west of the high-grade silver-zinc-gold Max target and fully enclosed within Jaxon's 44,482 ha Hazelton Project, located in northwestern British Columbia.
Jaxon conducted due diligence sampling on the new claims along the 3.6-kilometre length of a northeast-trending brittle shear zone which hosts several known showings. Previous work from 1985 to 1987 reported up to 29.3 g/t gold and 2,983 g/t silver from grab sampling along the trend (1).
Prospecting Sample HighlightsThe northern-most select grab sample collected at 1,390 metres elevation returned 1,886 g/t silver and 1.35 g/t gold;Approximately 3 kilometres to the southwest, a sample at 1,740 metres elevation returned 994 g/t silver, 3.6 g/t gold, 61.4 ppm tellurium;Near the centre of the trend at 1,400 metres elevation, a grab sample returned 879 g/t silver and 1.55g/t gold.
The trend hosts silicified, hornfelsed clastic sedimentary units and intrusive rocks. These lithologies host sulphide-bearing quartz veins and quartz breccia, which contain pyrite, arsenopyrite, galena, sphalerite, and possibly stibnite, as massive sulphides and disseminations. Jaxon concludes that the well-developed mineralized system changes in character and relative content of sulphide components at different elevations of the structure and along strike.
Sample A0003759, which returned 61.4 ppm Te, represents the highest tellurium value discovered to date at the Hazelton Project and is considered a significant aspect of the new acquisition. The showing has been classified as silver-telluride enriched, while 11 kilometres to the south, the newly discovered CRT target, is a gold-telluride mineralized system. (see Jaxon press release Sep 14, 2017)
Jason Cubitt, Jaxon's President and CEO, states, 'These newly-acquired claims, in conjunction with Jaxon's staking throughout 2017, have significantly enhanced the Hazelton Project as a district play, as supported by the outstanding results reported from the 2017 Hazelton exploration program.'
Visit www.jaxonmining.com and click on the Hazelton Project for a map showing this and the CRT and RS zones.
Technical information in this news release has been reviewed and approved by Derrick Strickland, P. Geo, a qualified person as defined in National Instrument 43-101. This property has not been the subject of a National Instrument 43-101 report.
Jaxon is a base and precious metals exploration company with a regional focus on Western Canada. The company is currently focused on advancing its Hazelton Project in north-central British Columbia and the More Creek Project (consolidating the Wishbone and Foremore properties) in BC's Golden Triangle.
Sources (1) BC Geological Branch Assessment Report 15246 Dec 1985.
ON BEHALF OF THE BOARD OF DIRECTORSJAXON MINING INC.
'Jason Cubitt' ______Jason Cubitt, President.
For further information regarding Jaxon Mining Inc., please contact Jason Cubitt at 604-608-0400Toll free: 1-877-608-0007.
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 future 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, and 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
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25.09.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Jaxon Mining Inc.
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