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Jaxon Minerals increases its footprint in British Columbia's "Golden Triangle"

Last updated: 01:50 19 Aug 2017 AEST, First published: 20:50 18 Aug 2017 AEST

Jaxon's Wishbone property
Historic exploration has returned some truly impressive results

Jaxon Minerals Inc (CVE:JAX) has signed a definitive option agreement to acquire a 100%-interest in the Foremore property in north-west British Columbia.

The property is located 30 kilometres (km) north of Eskay Creek and 75 km north of Pretium's Brucejack property in the so-called Golden Triangle.

The property extends north to Jaxon's 3,900-hectare Wishbone Property, expanding the company's contiguous land holdings in the region to almost 20,000 hectares.

Jaxon has renamed the new consolidated property the More Creek Property.

Much of More Creek remains under-explored, with previous explorers failing to follow up on promising drilling results, such as a 3.1 metre (m) drill intercept grading 14.6 grams per tonne (g/t) gold; 1,114 g/t silver and 6.6% zinc.

Jaxon is currently compiling the extensive historical data set on the More Creek Property, re-integrating the Wishbone Property data with the goal of producing an updated geological model.

Special emphasis will be given to fully consolidate work from the last year of significant exploration (during 2008), which included 78 line-km of gridding in four areas; 52.6 line-km of induced polarization and 57.7 line-km of total field ground magnetometer surveys; 3,300 metres of drilling; and 301 rock and 197 soil samples taken during the course of geological mapping.

"This acquisition places us in the heart of one of the most prolific regions in Canada with another district scale project," said Jason Cubitt, Jaxon's President and chief executive officer.

"Historic exploration has returned some truly impressive results and we're intent on applying new technology and innovation to follow up on the excellent work that's already been done," he added.

Shares in Jaxon were up 3.9% at C$0.40 on the news.

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