PJX Resources Launches $6.3M Private Placement for Exploration

PJX Resources Inc. announced a non-brokered private placement aiming to raise $6.3 million. This involves issuing up to 44 million units at various prices, depending on the basis. The funds will be directed towards exploring and drilling critical metal and gold targets in British Columbia's Sullivan Mining District.

The targets include the Sedex-type deposit potential at Dewdney Trail Property and the Reduced Intrusion Related Gold System (RIRGS) at Zinger Property. Exploration results highlight significant mineralization potential, with substantial findings in zinc, lead, and gold. Permits are in place for drilling to commence in July.

Participation from PJX directors is noted, constituting a related party transaction. The initiative underlines PJX's focus on advancing exploration efforts within a historical mining district, leveraging existing infrastructure.