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The Forgotten Gold Rush at STUDHORSE CREEK PJX. TSX.V
When we think of legendary gold rushes,immediately, California or the Klondike come to mind. Sam Steele of The Northwest Mounted Police, the forerunner to the RCMP was another legend restoring law and order among the bandits,claims jumpers with the usual rowdy saloons and dancing girls.
Actually, Sam was a great decorated soldier before he earned his stripes as a mountie and was well respected by miners and First Nations people alike long before he arrived in the Klondike. Actually it was the West Kootenays while stationed at Galbraith's Landing later named Fort Steele by the grateful townsfolk in his honour,
Gold had been discovered at Stud Horse Creek by American prospectors,now named Wildhorse Creek where it empties into thje Kootenay River. Fortune seekers flooded in from the USA and other parts of Canada. In the year 1864 more than 1.5 million ounces worth 7 million dollars was recovered from the river.
As the gold in the area placer creeks began to taper off, news of the Klondike sent the Kootenay fortune seekers north along with Canada's famous mountie. The Wildhorse and the other nearby placer creeks still yield gold today and Wildhorse is considered to be one of the best placer creeks in British Columbia.
The source of this gold has yet to be discovered and the Wildhorse has been out of the spotlight for many years,but methinks, NOT FOR LONG. John Keating, President of PJX Resources Inc., earlier in his career, while employed by a major, realized the potential of the area and years later when he saw the opportunity to option properties in the target source areas where the former operator had spent a few million bucks laying down the groundwork, formed PJX Resources using his negotiating tactics together with masterful timing, acquired while working for the big guys dealing with the little guys, inked some incredible deals and will not be giving away the farm in any joint venture or takeover.
The targets are numerous and a future drill program is being mapped out. The Dewdney Trail property, located above the headwaters of the Wildhorse is the main focus. This story gets better. PJX's other area properties have all the right ingredients required to host a SHV deposit (sediment hosted veins) which is the trademark of most of the great world class gold deposits, notably in Russia.
Add to that, the properties are located near Cranbrook, British Columbia. No need to set up a mining camp. Workers can stop at McDonalds for lunch. Actually all work is done on a contract basis to keep better control of costs. The entire staff consists of Keating and CFO Linda Brennan, a stickler for keeping costs down,with many years of financial mining corporation experience, wearing many hats as well including investor rrelations This company is mean when it comes to deals and lean when it comes to unnecessary spending.
With the numerous similarities their properties have to that of the famous SULLIVAN Mine in nearby Kimberley, John Keating has been at the forefront in using and analyzing the latest VTEM airborne technology and is employing this expertise to map out the best strategy going forward. It was Keating's employer and owner of the Sullivan at that time that had he and his team explore the area because of the many striking similarities hoping to find another SULLIVAN. A drilling program was planned only to have the go ahead delayed when Keating was required at their Timmins operation and the program was eventually dropped because of low commodity prices.
The company went public about a year ago at 20 cents and although even the best of the producers and near producers are down almost 50% from last year,PJX has held up well and this thinly traded, tightly held stock sits at just under its original issue price.but in my opinion NOT FOR LONG. Many of the original IPO participants have been adding to their positions in this largely unknown company.Only 23 million shares are outstanding and it trades by appointment, so it is diificult to get your trade filled on the cheap.
I have been gradually adding to my position and certainly recommend this stock be considered for the speculative section of your investment portfolio. I am not an analyst, geologist or professional and the opinions expressed here are my own,.Due Diligence is always recommended.
When people become aware of this company's potential together with news of any new drill program, the stock should be trading much higher and with a decent drill hole announcement a POTENTIAL TEN BAGGER. http://pjxresources.com