by Peter Epstein & Epstein Research [ER]
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.
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.
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.