Jaxon Mining Inc. (CSE:JAX) announced Thursday that its first phase of exploration at its Red Spring discovery, 40km north of Smithers, B.C., started on June 1, 2018.
The Red Spring target came from a significant discovery made last summer of high-grade gold and tellurium-bearing hydrothermal tourmaline breccias and lies within the greater Hazelton project area, which covers more than 39,000 hectares(ha) and includes Jaxon's Max volcanogenic massive sulphide project.
The first phase of fieldwork included geological mapping and sampling the Red Spring area, located within the Hazelton Property. In addition to the rock sampling program, a total of 30 stream sediment samples have been taken to identify prospective areas on a semi-regional scale.
More than 150 individual occurrences of mineralization located of various styles attest to a significant porphyry system within the project area, according to Jaxon, and three new porphyry copper prospects identified in addition to tourmaline breccia mineralization discovered in 2017.
Additionally, geological mapping and surface sampling is almost completed on 36km2 area of interest.
The company said it is encouraged by the new discovery of five major mineralized trends within the Red Spring project area, four of which have been defined within six weeks of commencement of the field season. Prospecting, mapping and sampling work has resulted in the recognition of approximately 150 mineral occurrences, five of which are considered significant discoveries justifying further evaluation.