Jaxon Commences 2020 Exploration Program at Hazelton
Vancouver, July 20, 2020 - Jaxon Mining Inc. (TSXV: JAX) (FSE: OU31) (OTC: JXMNF) ("Jaxon" or the "Company") is pleased to announce field crews have mobilized to the Company's 100% owned/optioned 466 km2 Hazelton property near Smithers in northwestern British Columbia.
Hazelton comprises four distinct geologic areas of interest, each hosting one or more copper porphyry mineralized systems with multiple, polymetallic, distal expressions in soils and outcrops.
- Flagship project Red Springs AOI - large porphyry Cu-Mo system with large scale, distal, gold-bearing tourmaline breccia zone/pipe https://jaxonmining.com/projects/red-spring/
- Max AOI - epithermal-epigenetic structurally-controlled, high sulfidation, high-grade silver dominated polymetallic target https://jaxonmining.com/projects/max-silver-zinc/
- Netalzul Mountain AOI - large porphyry Cu-Mo system with structurally-controlled silver and associated polymetallic mineralization https://jaxonmining.com/projects/netalzul-mountain-hazelton/
- Blunt Mountain AOI - porphyry Cu-Mo system with a 2 km long distal epithermal system with showings of Cu, Ag, Au, and other mineralization https://jaxonmining.com/projects/blunt-mountain-hazelton/
Phase One of 2020 Field Program
- 4-6 km2 detailed ground magnetic survey at the Razorback porphyry and gold-bearing tourmaline breccia zone/pipe at Red Springs
- Preliminary ~1000-1200 soil sampling and mapping program consisting of a systematic 50 m x 50 m grid at Razorback porphyry covering approximately 2 km2 to be conducted by HEG & Associates
- Re-logging of 2017 drill cores from Max, which intercepted 6-11 metres high-grade silver polymetallic mineralization
- Surface prospecting including soil, rock sampling, and mapping at the Netalzul Mountain and Blunt Mountain AOIs
Mr. John King Burns, Chairman, and CEO commented, "The results from the 2020 Phase One fieldwork will be added to our conceptual geological models and will be used to inform the final selection of drilling targets at Red Springs. The ~2000 metre drilling program, planned as part of Phase Two, targets the main porphyry system at Red Springs. The drill targets are vectored based on both strong magnetic and geochemical anomalies (Cu values in soils ~500 ppm, as announced in a news release dated April 7, 2020 https://bit.ly/3gXZzSD). One or more of the drill holes will be designed to trace the pipes back to the deeper parts of porphyry system that fed the tourmaline breccia occurrence that outcrops on surface."
"Additional drill tests may be conducted at Netalzul Mountain, Max or Blunt Mountain this year, if time and funds allow. Those decisions will be made mid-September and will be based on the results of the Phase One surveys, the availability of resources, and the weather forecast for late September and October of 2020. The work products of the 2020 work season will set Jaxon up to drill confirm the scope of one or more of its four porphyry targets. During the 2020 and 2021 field seasons, Jaxon is positioned to track down one or more copper porphyry elephants wearing silver and gold earrings."
Geology and Historical Mineral Showings Map of Jaxon's Hazelton Property, Skeena Arch, Smithers, B.C.
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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 its Red Springs Project in north-central British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS
"John King Burns"
John King Burns, Chairman
For more information, please contact:
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Corporate
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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.
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