Jaxon Mining Inc Snapshot
Jaxon Mining is a Canadian-based exploration and development company focused on acquiring highly prospective properties within British Columbia. Using a data/model driven exploration approach, the company is targeting regions with similar geological structure to known districts, or regions in which a better understanding of the geology could lead to new and promising opportunities. The company currently holds two prospective properties in two of Canada’s most prolific districts - the Skeena Arch and the Iskut - Golden Triangle.
The company is managed by a team of experienced mining professionals with expertise that spans a wide range of knowledge from technical and on the ground exploration to marketing and finance.
The Hazelton Project now spans more than 39,000 ha and is prospective for world class Eskay Creek and Equity Silver style mineralization. At the Max and Knoll targets widespread soil anomalies and surface showings up to 3,397 g/t Ag, 12.7 g/t Au, and 22.29% Zn have been found. Jaxon has done significant work at Hazelton in 2017 expanding the Max target, and has discovered new zones of high-grade mineralisation.
MORE CREEK PROJECT
The More Creek Project, located within the Golden Triangle, is the amalgamation of the Wishbone and Foremore properties. Now expanded to almost 20,000 ha, the project hosts multiple geological models. Significant historical exploration has indicated numerous targets to pursue – the first priority is a comprehensive data compilation. Results include rock chip samples including 93.7 g/t gold and 81.7 g/t gold. A drill hole returned 3.1 metres averaged 14.6 grams per tonne gold, 1114 grams per tonne silver, 0.2 per cent copper, 1.2 per cent lead and 6.6 per cent zinc.
Hazelton (formally Price Creek), Jaxon’s flagship project, spans 39,426 ha and is prospective for Eskay Creek and Equity Silver style mineralization. Widespread soil anomalies and surface showings up to 3,397 g/t Ag, 12.7 g/t Au, and 22.29% Zn have been found on this advanced exploration project and a number of features suggest that the property has considerable potential. These include the age of the host rocks, the stratiform nature of some of the sulphide zones, the high silver values and the presence of 19 massive-sulfide bearing-bearing outcrops, just west of an extensive 3,000 m x 700 m soil grid. Hazelton is located 40 km north of Smithers, a mining-friendly town in north central British Columbia, and is nearly drill ready as well as easily accessible by road.
Geologically similar to Barrick Gold’s Eskay Creek Mine and Goldcorp’s Equity Silver Mine
$3 million worth of historical data compiled
Strategic and targeted exploration program complete
Induced Polarization geophysical survey completed and interpreted.
Targets are shallow-marine VMS with an epithermal component of precious and base metals prospective for bonanza grade material. VMS deposits are associated with and created by volcanic-associated hydrothermal events in submarine environments. In modern oceans they are synonymous with sulfurous plumes called black smokers.
The company believes that geologists exploring the Hazelton project during the 1980s, before the Eskay Creek VMS model was recognized, targeted veins at shallow depths as opposed to the potentially economic stratiform mineralization likely lying beneath. VMS deposits typically occur in clusters, therefore if the company discovers one it is possible that others may be nearby.
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MORE CREEK PROJECT
The Company has acquired two adjoining projects within British Columbia’s famed Golden Triangle. The Foremore Project, acquired in the spring of 2017 (see press release dated June 1, 2017) extends north to Jaxon’s 3,900 ha Wishbone Project, extending the Company’s holdings to almost 20,000 ha in this premier mining district. Collectively, these two projects comprise the More Creek Project
The area known as the Golden Triangle of British Columbia is among the world’s most prolific mining districts, host to past and current mining operations including Johnny Mountain, Red Mountain, Snip Mine, Premier Mine, Golden Bear, and Valley of the Kings.
The 15,500-hectare Foremore Property is located 45 kilometres north of Barrick Gold Corporation’s legendary historic Eskay Creek Mine. It hosts an abundance of known precious and base metal-rich mineralized boulder fields, outcrops, as well as multiple geochemical and geophysical anomalies in multiple areas. Cominco Limited staked portions of the property after the original discovery of a 162 g/t gold Au quartz boulder and several massive sulphide boulder fields during helicopter reconnaissance in 1987. Since that time millions of dollars have been reportedly spent by Cominco and, subsequently, Roca Mines Inc., developing multiple target areas. An even more spectacular sample was reported in a NI43-101 report for Roca Mines Inc. from the southern end of the Wishbone property, where an out cropping 2 to 3 cm vein carries visible gold at 3,240.9 g/t gold and 82,514 g/t silver (Sears and Wadkins, 2005; available on www.sedar.com). The vein cuts across the local foliation and it is difficult to determine if it is related to the abundant folioform veins cutting the schists and phyllites. Jaxon cannot verify this sample result, but intends to locate the vein and resample.
Gold enrichment has been observed by historical exploration in numerous outcropping vein styles and in sulphide zones across the property. It Includes a 1 metre chip sample by Cominco reported to grade 93.7 g/t gold and a Roca Mines grab samples reported to grade 81.7 g/t gold, from the north slope of the valley. Also, in 2004, drill hole FM04-04 returned 3.1 metres averaged 14.6 grams per tonne gold, 1114 grams per tonne silver, 0.2 per cent copper, 1.2 per cent lead and 6.6 per cent zinc, in the BRT showing (Exploration and Mining in BC 2004). This drill hole was never followed up nor was downhole geophysics utilised to better track prospective targets.
Jaxon believes new sulphide boulder trains and outcrops will be exposed from glacial melt- back across this well mineralized, partially covered property.
The Company entered into a LOI to acquire 100% interest in the company as follows:
$5,000 on signing
$45,000 and 350,000 Jaxon shares on TSX-V Approval
$50,000 and 350,000 Jaxon shares on 1st anniversary (2018)
$75,000 and 400,000 Jaxon shares on 2nd anniversary (2019)
$125,000 and 450,000 Jaxon shares on 3rd anniversary (2020)
$200,000 and 500,000 Jaxon shares on 4th anniversary (2021)
$200,000 and 500,000 Jaxon shares on 5th anniversary (2022)
Additionally, on commencement of commercial production from the Property, $2,500,000 and 2,500,000 Jaxon shares are payable. Jaxon has 60-days to conduct due diligence, and in that time, the parties will prepare a definitive agreement to be submitted to TSX-V for approval.
In addition to the historical data being compiled Jaxon has completed further technical programs that are currently being interpreted by the company’s technical team.
The Wishbone property is comprised of 4,000 ha and is located within the Golden Triangle in Western British Columbia, approximately 30 km southeast of the Nova Gold/Teck-owned Galore Creek Property, a significant copper-gold-silver asset. The project is located in a region with active glaciation and has seen only limited exploration. Wishbone contains epithermal/mesothermal quartz hosted vein and rhyolite volcanic VMS targets on the northern extent of the property, and a series of six gold mineralized veins within 200 m of the original discovery vein have been found to date. The longest vein is exposed intermittently for approximately 550 m.
The property has seen some historic exploration which includes:
The most consistent channel samples in a single vein averaging 7.8 g/t Au over an average vein width of 2.4 metres and a strike length of 78 metres.
Mineralized boulder train and outcrop consisting of disseminated massive sulphides in quartz carbonate vein material with assay values up to 6.7 kg/t Ag, and 8.2% Cu.
The company announced the signing of a definitive agreement for the Wishbone property in March of 2017 with an option to earn 100% interest in the property.
2017 Spring/Summer Work Program
Jaxon is currently in the process of defining the summer work program. Details will be announced once the plan is complete; however, the program will include:
Examination of newly exposed ground from glacial melt.
Detailed follow-up of numerous high priority targets identified from historic data.
Property-wide sampling and reconnaissance.
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Mr. Cubitt has 25 years of experience working with resource companies in various capacities as founder, finance agent and institutional investor. Most recently, Mr. Cubitt was director of investments for Vertus Investment Advisory and Ascenta Asset Management, offshore investment advisory firms for which he was responsible for precious metals and special situations mining and energy funds.
OLEG SCHERBINA CPA
Chief Financial Officer
Oleg Scherbina has over 17 years of financial management experience including the last 6 years in the mineral exploration and gold mining industry. He has worked for a number of years with resource companies including Uranium One Inc., Eureka Mining, Bema Gold Corporation and Zoloto Resources Ltd. He holds a Master’s Degree in Accounting and Audit from Odessa State Economic University and a Bachelor’s Degree in Business Law from Odessa State University, Ukraine.
Mr. Ballantyne has the significant role of being the Manager of the Company’s projects. Mr. Ballantyne had a distinguished career of 23 years starting in 1974, with the Geological Survey of Canada, as a well-known member of the Mineral Resources Division, where he specialized in Applied Exploration Geochemistry. He was responsible for the development and initiation of the National Geochemical Reconnaissance Stream Sediment surveys in the Canadian Cordillera and as a guest speaker has presented his research on a variety of deposits nationally and internationally. Since 1996 he has consulted to junior and mid-tier mineral exploration companies including a six year term ending in 2008 with Starfield Resources Inc. where he was an integral part of the successful exploration and development of resources at the Ferguson Lake copper-nickel-cobalt-platinum group metal deposit in Nunavut, Canada. Mr. Ballantyne is a B.Sc. graduate of the University of Guelph, Ontario.
JAMES LAVIGNE P. GEO MSC
Director & Technical Advisor
Mr. Lavigne has been a Director of Jaxon Mining Inc. since November 2008. Mr. Lavigne has over 25 years’ experience in all phases of mineral exploration and development predominantly in base and precious metal deposits. His positions included Vice-President of Exploration for Goldbrook Ventures Inc. where he was responsible for design implementation and management of their programs; senior geologist with FNX Mining Company; and consulting geologist with Wardrop Engineering. He is currently Vice President Exploration for Garson Gold Corp. focusing on the New Britannia Gold Mine, Snow Lake, Manitoba. Mr. Lavigne has a B.Sc. (Geology) from Memorial University of NFLD and a M.Sc. (Geology) from the University of Ottawa.
LAURENCE STEPHENSON P. GEO MBA
Mr. Stephenson has been a Director of Jaxon Mining Inc., since November 2008. He has over 40 years’ experience in the field of mineral exploration and in guiding new companies in the acquisition and utilization of capital. He was instrumental in starting Glencairn Exploration Ltd., a listed company and its subsidiary, Wheaton River Minerals Ltd. (formerly listed on the Toronto Stock Exchange before its plan of arrangement with Goldcorp Inc.). Mr. Stephenson received his B.Sc. from Carlton University and his MBA from York University. He is a member of the Professional Engineers of Ontario and the Professional Engineers and Geoscientists of British Columbia.
Ms. Fairhurst has more than 15 years of experience in the financial and public company markets. The majority of her time has been spent administering capital assets in the Canadian and Australian resource sectors. She subsequently went on to be a founder and executive in the resource business in her own right. Emma has significant experience in international development and corporate responsibility working in East Africa. She is a director and founding member of Global Change for Children Society, a volunteer charity sponsored by mining companies.
GARRY STOCK, CFA
Mr. Stock has worked in the resource industry for 20 years, helping build companies from inception to up to $500 million in market capitalization. He has been involved in $400 million in equity financings and has acquired/developed exploration assets across most commodities within Canadian, US, Australian and British securities jurisdictions. Garry holds a Honours BA in Economics and completed the CFA program in 1998.
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