I recently met with John King Burns, (“JKB“) CEO of poly-metallic, Canadian copper-focused Jaxon Mining (TSX-v: JAX). I found him refreshingly optimistic, but also candid about the junior mining sector.
This year is off to a terrific start for select industrial commodities, with copper up nearly +30% from its 4-month low. Gold touched US$1,901/oz. earlier this morning, +18% from mid-October’s US$1,614/oz. low. Zinc is up +22% since early November. Jaxon has exposure to all these metals and more.
JKB is confident that his team is onto something in NW B.C., something that larger players will be eager to be a part of. Companies like BHP, Barrick, Teck Resources, Newmont, Newcrest, Freeport McMoran, Pan American Silver, Seabridge, Imperial Metals that already have investments in B.C.
JKB speaks with companies like that, (he wouldn’t say which ones). In fact he has contacts around the world. He has a long resume including Chairman roles at Dolly Varden Silver, Athabasca Potash, Titan Goldworx & Northern Orion Explorations.
John also has vast brokerage experience working for Drexel Burnham Lambert & also Barclays Metals Group across the U.S. and London, in key areas including; commodities, derivatives, finance & risk management.
Tony Guo, P.GEO., MMSA is Jaxon’s Dir., President & Chief Geologist. He has > 30 years’ experience as an expert in resource exploration, estimation, development, assessment & project management. I spoke with him as well and am happy with Jaxon’s technical credentials.
For years Jaxon has been starved of capital. However, with the new involvement of prolific mining financier Karim Rayani & metallurgy/processing wizard Corby Anderson, PhD., 2023 is poised to be an exciting year.
Mr. Rayani is focused on financing mineral exploration & development companies. He’s actively involved in several public natural resource companies in Canada.
Mr. Rayani brings an extensive network of contacts spanning N. America & Europe focusing on institutional accounts. Karim is now the largest shareholder of Jaxon.
Dr. Anderson has 43 years’ experience in mining & metallurgy. He’s a globally-recognized expert in the processing of antimony ores, concentrates & recycled materials.
This company has a C$7M market cap, but is blessed with tremendous blue-sky potential. Please keep reading to find out why!
B.C. is famous for massive copper-heavy porphyry systems, some with abundant co-products like Gold, Silver & Molybdenum (“Moly“). Where there’s one deposit there’s typically more as they’re often found in clusters.
Jaxon owns the Hazelton property in north-central B.C., east of the town of Hazelton, ~40 km NW of Smithers, with 75 contiguous mineral claims totaling 723 sq. km.
Unlike far more remote projects in Canada, Hazelton is near regional infrastructure – just eight km to highway, rail & power and 50 km to an airport. Seven prospects have been identified & delineated so far; Red Springs, Blunt Mt, Max, Netalzul Mt, Mt Thoen, Rocher Deboule Mt & Kispiox Mt.
Netalzul Mountain (“NM“) & Red Springs (“RS“) are ranked as the largest & highest grade targets. NM has both epithermal & porphyry signatures with very high-grade grab samples including 5,301 g/t silver, 37.8% zinc, 29.2% lead, 3.35% copper & 2.32% antimony.
Yes, those are noteworthy grades, especially with copper & zinc prices up over 20% due to China’s reopening! NM covers 136 sq. km of the NE corner of Hazelton.
There has only been modest exploration at NM, but there has been artisanal mining, and “large & strong” [> 10 sq. km] magnetic anomalies exist. Importantly, magnetic lows align with poly-metallic surface soil & rock anomalies above.
Multiple porphyry dyke outcrops with copper grades of 0.27% to 1.4% are present. An (up to) 7.2 meter thick sulfide quartz vein zone grading 0.93% copper equiv. and another 7.4 m porphyry dyke with a copper equiv. grade 0.71% warrant follow-up work.
Details of extensive modeling can be found in this corporate presentation. Slides #11-13 suggest that NM has similar geochemical & geophysical signatures to SolGold’s (C$750M market cap) giant Alpala project in Ecuador.
Mineralization is also thought to be analogous to Canada’s past-producing Silver Standard mine at East Hazelton and the Huckleberry porphyry mine.
In addition to surface expressions, highly analogous copper results support Jaxon’s technical team in modeling a porphyry system at 800-1,000 meters depth. A drill program is planned for this summer at NM, subject to a capital raise later this quarter.
Red Springs is a drill-ready Cu-Mo porphyry target that’s extensively mineralized and gold-bearing with a large “porphyry-style alteration zone” of ~4 sq. km. RS hosts rockl samples of up to 8% copper & 33 g/t gold.
RS consists of 19 mineral claims covering 292 sq. km. The Company completed 800 soil samples and a 2 sq. km ground magnetic survey resulting in the definition of two promising magnetic anomalies.
If Jaxon intersects one or more porphyries at depth on NM and/or RS, I believe several of the big companies listed earlier would be interested in partnering on Hazelton.
At the risk of being too early to get excited about Jaxon’s antimony (“Sb“) showings, let me tell you about Jaxon’s blockbuster Sb grades! Jaxon’s Kispiox Mountain target hit up to 29.7% antimony, deemed a critical mineral in the U.S., Canada & Europe.
Who cares about Antimony? Everyone should, it’s trading at ~US$12,000/t. Antimony is typically pried at US$3-$3.5/lb. in economic studies vs. today’s US$5.45/lb. level. The vast majority of Sb comes from China, Russia & Tajikistan, what could possibly go wrong!?!
Some of the growing uses of antimony; critical military applications incl. weapons & communications, green energy (solar/wind), semiconductors & calcium-antimony batteries (for stationary energy storage).
In addition to the bonanza grade 29.7% Sb, two other samples graded 2.7% & 6.5… 6.5% Sb has the same value as a 13 g/t gold sample. Over at the Blunt Mountain target there are another five samples of > 2% Sb.
In doing research on (publicly-listed) Sb juniors, I could only find eight. Compare that to the 350+ lithium juniors in N. America, London & Australia. This is why Dr. Corby Anderson approached Jaxon when he learned about the Company’s impressive Sb grades.
Private companies with strong financial backing like U.S. based Ambri are making bold moves in the stationary battery space with calcium-antimony designs claimed to be superior to vanadium & lithium-ion systems.
Companies like Ambri desperately need to secure long-term sources of antimony — preferably not from China, Russia or Tajikistan!!
Dr. Anderson confirmed that the high-grade samples at Kispiox & Blunt are high purity, containing relatively low levels of deleterious materials. To be clear, it’s still early days, but exciting stuff and investors in Jaxon today get the antimony play for free.
One last metal to watch for is Moly as it’s found (at reasonably high indicative grades) all over Hazelton. Moly could be a valuable co-product as its price sits at ~US$46,500k/t. Ample metals credits can contribute to low operating costs, which greatly enhances project economics.
The U.S. & Canadian federal, state & provincial governments are offering free-money grants & low-cost loans for critical metal projects sourced in N. America. Antimony & Moly are on the list. This is a huge opportunity that hundreds of N. American gold & silver juniors can’t tap into.
Jaxon’s team is all over these funding initiatives. It has begun submitting applications. While no one knows if or when any grants or loans might be awarded, even a $1M grant would be huge news for tiny Jaxon Mining (TSX-v: JAX).
There seem to be a number of exciting catalysts to watch for and multiple ways to win here. Readers are encouraged to take a closer look.
Disclosures: Peter Epstein & Epstein Research [ER] have no prior or existing relationship with Jaxon Mining or its team. Mr. Epstein does have a business relationship with (unmentioned) companies led by Karim Rayani. Mr. Rayani introduced Jaxon CEO John King Burns to Mr. Epstein. Mr. Epstein owns shares of Jaxon, purchased in the open market.
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