It’s big country up in the Skeena Arch, Central British Columbia, but the rewards can be big too.
That’s the thinking behind the efforts of Jaxon Minerals Inc (CVE:JAX), which owns the Hazelton project across 28,000 hectares of prime BC ground, and which has already demonstrated prospectivity soil anomalies and surface showings of up to 3,397 grams per tonne silver, 12.7 grams gold and 22.29% zinc.
Tonnage to match...?
Big grades, but can the company come up with the tonnage to match?
That’s the key question that Jaxon is hoping to begin to provide answers to in the exploration season this summer, as the company sets out to prove that the thesis that Hazelton is the same style of mineralisation as the famous Eskay Creek mine is correct.
Previous drilling conducted in the 1980s was carried out before the Eskay Creek volcanic massive sulphide model was widely understood, and the holes were designed to target veins rather than stratiform mineralisation.
Nevertheless, data from that old core can be pulled together and will be used by Jaxon this summer to design its upcoming drill programme.
Very prospective projects...
“These projects are very prospective for high grade precious and base metals,” says Jason Cubitt, Jaxon’s President.
But first there will need to be some more geophysics and geochemical work done.
That work, says Cubitt, ought to provide the company with some “fantastic targets.”
Indeed, he’s optimistic that it will demonstrate that it will show the entire district to be prospective, which is something previous analysis by various government mining agencies has failed to recognised.
“We feel this district has been mis-mapped,” he says. If that proves to be the case, then the upside at Hazelton could be more significant than anyone has imagined.
What’s more, mineralisation starts at surface, so mining could theoretically get underway at a much lower cost than some of the bigger operations in the area that have had to go down to considerable depth.
“You literally take a hose, spray off the moss and you’re into it,” says Cubitt.
“So we’re going to charge the rocks that we’re targeting. That will be complementary to the airborne work. And we’ll probably chase them for a hundred metres.”
Overall, he reckons that Jaxon will end up drilling something of the order of 1,000 metres this summer, on a budget of around C$1 mln.
Newsflow set to build....
And newsflow will start to build from here on in.
“We’ve just deployed our crew,” says Cubitt. “They’ve spent their first week on the rehabilitation of trenches.” After that the electromagnetic work will get underway.
Then, new money will be raised in the market to support the rest of the campaign. Cubitt is confident about how this will go, and the company’s share price seems to back him up. It’s been rising steadily since April, up almost sixfold to a current C$0.29, and that’s even after giving up some ground from highs hit earlier in June.
“We have a lot of friends in the market,” says Cubitt. “We’re talking to retail, to institutions, to private capital. And I think we’re seeing that the juniors in general are finding more favour.”
It’s a time to be nimble too. Jaxon has just seized the opportunity to acquire new ground at Foremore, 45 kilometres north of Eskay Creek. This property is complementary to another piece of ground that Jaxon holds in the area, and the deal was, says Cubitt, just “too good to pass up.”
Having said that, with work now getting underway at Hazelton, it looks as though Jaxon has enough on its plate, at least for the current field season.
“I think for this year we’ve got more than enough to chew on,” says Cubitt. “Stay tuned.”