Jaxon Minerals Provides Snow Lake Update; Shrs At Yr Lows
Jaxon Minerals Inc. (JAX.V), trading at year lows, completed a program of core drilling on December 19, 2012 at the Snow Lake, Manitoba, property.
The first two drill holes were drilled on a section selected to intercept a steeply dipping interpreted "conductive plate" approximately 40 meters from the model top and then 50 meters below the first intercept. The third hole was drilled off section to intercept the same plate at depth. Koop performed down hole Borehole TDEM surveying on holes 2 and 3, which were drilled an extra 50 meters past the conductor plate intercept to further confirm the position and extent of the conductive drill targets.
All holes cut volcanic rocks known to host VMS-style deposits in the Flin Flon-Snow Lake Belt. Under the Paleozoic cover rocks, the steeply dipping volcanic sequence ranges from ash tuffs to mafic volcanics and basalts. Dykes of dacite, diabase and diorite were also encountered. Most sulphide mineralization intercepted in the holes was associated with quartz-bearing banded iron formations and dyke margins.