Jaxon Mining Inc.
Jaxon Mining is a Canadian-based exploration and development company focused on advancing its flagship Red Springs Project in the Skeena Arch area of British Columbia. Red Springs involves an extensive high-grade gold-cobalt tourmaline breccia mineralization occurrence, emanated from and distal to a system of copper/gold porphyries. Using a data/model driven exploration approach, the company is following the gold-cobalt tourmaline breccia zones to target these associated porphyries.
Jaxon is managed by a senior team of experienced mining professionals with a high level of expertise in technical/on the ground exploration and finance.
The company is using the prospect generator model to attract partners to advance various prospects on its two prospective properties located in Canada’s most prolific districts – the Skeena Arch and the Iskut – Golden Triangle. The company is actively seeking partners to drill the porphyry targets at Red Springs, other targets at Max at Hazelton and a number of VMS and epithermal targets at More Creek.
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Red Springs Project
Red Springs Project spans more than 42,244 ha and is prospective for world class high-grade gold/cobalt tourmaline breccia mineralization and associated copper/gold porphyry targets. The mineralization type at Red Springs is similar to other known world class tourmaline breccia porphyry copper deposits such as the Giant Copper porphyry copper deposit in British Columbia, Canada; the Kharmagtan porphyry copper/gold deposit in Mongolia; the super large EI Teniente porphyry copper deposit in Chile; and the Soledad porphyry copper/gold deposit in Peru. All are distinguished by their distal and well developed tourmaline breccia pipes or veins. Field work at Red Springs, conducted in 2017 and 2018, identified two distal areas with distinct mineralization.
The first is an extensive tourmaline breccia area which includes the Backbone gold-bearing tourmaline breccia zone, North Cirque tourmaline breccia zone and North West Cirque tourmaline breccia zone and three copper porphyry targets. The Backbone gold-bearing tourmaline breccia zone is defined as a low angle thrust fault-bounded sill-like mineralization zone. It is sedimentary rock hosted, involving multiple phases of porphyry intrusive related thermal solution overprinting the tourmaline breccia with strong silicification and sulphide alterations. The tourmaline zone extends approximately 1 km2 from the Backbone to the North West Cirque and North Cirque areas.
Gold grades from surface grab samples and channel samples from the tourmaline breccia zones are up to 31.81 g/t with cobalt and copper grades up to 0.23% and 1.0%, respectively. Gold grades from drilling core samples at the Backbone zone are up to 6.60 g/t with cobalt grades up to 0.10%.
The second area identified is a high-grade antimony-silver mineralization discovery. Assays from the 2018 surface sampling in this area contain up to 5% antimony, 302 g/t silver, 2.94% zinc and 1.70% lead. These high-grade antimony/silver samples cover an area of more than 500 m in length and 200 m in width. This high-grade antimony-silver sulfide mineralization is distal to and per Jaxon’s conceptual geological model of Red Springs, was also generated by the Red Springs porphyry system, located approximately 2 km North of the antimony sampling area. The sampling and mapping work was completed in the 2018 season.