PJX Resources Inc. (PJX:TSXV; PJXRF:OTCQB) has secured a renewed five-year drill permit for its Zinger property in southeastern British Columbia, enabling the company's first-ever drilling on high-priority reduced intrusion-related gold system (RIRGS) targets at the Gar intrusion while advancing Sullivan-style critical metals exploration at the Dewdney Trail property.
Key Investor Takeaways
- PJX Resources Inc. received a five-year permit on October 6, 2026, for first drilling at the undrilled Gar RIRGS gold target on Zinger.
- High-grade surface samples returning up to 28.84 g/t gold (Au), together with a 1,600-m-long gold-in-soil anomaly, support the RIRGS exploration model. The company also notes geological similarities to Snowline Gold Corp.'s (SGD:TSX; SNWGF:OTCQB) Valley discovery.
- Dewdney Trail critical metals drilling continues as part of the 4,000 m program financed by the July 2026 CA$6.3-million financing.
- The Zinger targets remain at an earlier stage than advanced peers like Snowline Gold, providing exploration upside in a comparable RIRGS setting.
- PJX controls the largest land package in the historical Sullivan district with strong infrastructure access.
- Next steps include preliminary Zinger drilling before snow and compilation of Dewdney Trail results.
Five-Year Permit Unlocks Zinger Drilling
On October 8, 2026, Bob Moriarty of 321gold.com told Streetwise Reports, "PJX has at last gotten permission to drill their RIRGS target in southern BC. This is a giant deal. Look for a start of drilling announcement shortly."
The company's October 6, 2026, news release details the permit for preliminary holes at the Gar RIRGS target, which has never been drilled. PJX plans to test part of a 1,600 m gold-in-soil anomaly associated with the Gar intrusion before winter conditions set in. According to the company, visible gold occurs in sheeted and structurally controlled quartz veins, with grab samples returning up to 28.84 g/t Au. Airborne magnetic data indicate potential for a cluster of RIRGS targets across a district-scale footprint at least nine km long and two km wide.
The geological setting at PJX's Gar intrusion shares key characteristics with Snowline Gold's Valley RIRGS discovery in Yukon, including visible gold in sheeted quartz veins within a mid-Cretaceous granodiorite-to-granitic intrusion and magnetic lows supporting potential mineralization. PJX highlighted similarities to Kinross Gold Corp.'s (K:TSX; KGC:NYSE) Fort Knox deposit in Alaska as well. Unlike Snowline Gold's Valley project, which has undergone extensive drilling, PJX's Gar target remains undrilled. The upcoming program will provide the first drill tests of the target in a road-accessible area, with helicopter support available from nearby Cranbrook. Snowline's project benefits from advanced exploration in a proven RIRGS district, while PJX's work is at an earlier stage, with surface sampling and a permit in hand.
Concurrently, PJX continues a 4,000 m drilling program at Dewdney Trail, 25 km east of the historical Sullivan mine, funded by the CA$6.3 million private placement closed in July 2026. Drilling there is focused on the Estella basin, one of three core targets, following the discovery of Sullivan-style mineralized boulders and a 30 m subsurface zone with anomalous zinc, lead, silver, gold, and cobalt. The company has stated that results from the current phase will be released once compiled.
Gold Investors Welcome Recovering Prices
Gold prices recovered on October 9, 2026, after falling earlier in the month, with December gold futures reaching approximately US$4,207 per ounce in early trading. According to Yahoo!Finance, the rebound followed comments from President Donald Trump that Washington was engaged in productive discussions with Iran. Trump has promised the U.S. government will not launch an attack on Iran before the November midterm elections. Lower oil prices, a softer U.S. dollar, and declining Treasury yields also supported gold. However, the metal remained down 5.4% over the previous month.
Gold's early-October recovery has remained sensitive to changes in currency and bond markets. The Wall Street Journal reported on October 9 that U.S. gold futures rose 1.4% to approximately US$4,216.70 per ounce in early European trading, supported by a weaker U.S. dollar and declining oil prices. Expectations that China could continue increasing its gold reserves also helped support sentiment.
Bob Moriarty of 321gold.com said, "PJX has at last gotten permission to drill their RIRGS target in southern BC. This is a giant deal. Look for a start of drilling announcement shortly."
However, the outlook for Federal Reserve policy remained a source of uncertainty, with markets still weighing the possibility of additional rate increases. These competing factors underscore how gold's near-term direction depends on both safe-haven demand and the opportunity cost of holding a non-yielding asset.
Longer-term demand indicators provide additional context for the market. The World Gold Council's Q2 2026 Gold Demand Trends report reported that first-half gold demand, including over-the-counter activity, reached 2,522 tonnes, up 2% year over year, while the value of demand reached a record US$380 billion. Central banks purchased 289 tonnes during the second quarter, rebounding sharply from the first-quarter slowdown.
The council also reported that gold ETFs experienced outflows during the second quarter as weaker prices, higher interest-rate expectations, and a stronger U.S. dollar weighed on investment flows. It expects investment demand to remain a primary driver of gold demand during the second half of 2026, with central banks continuing to provide support.
Streetwise Ownership Overview*
PJX Resources Inc. (PJX:TSXV;PJXRF:OTCQB)
Ownership & Share Information1
PJX Resources Inc. has a market cap of CA$32.76 million, with 217.65 million shares outstanding. The company's 52-week range is CA$0.08-CA$0.25 per share.
Institutions own 11.87% of shares, while Management & Insiders own 12.03%. The remaining 76.10% of shares are Retail.
Frequently Asked Questions
Q: What does the new Zinger permit allow?
A: The five-year permit enables the first drilling program targeting the Gar RIRGS intrusion, with initial holes planned to test the gold-in-soil anomaly this season.
Q: How does Zinger compare to Snowline Gold's Valley?
A: Both feature RIRGS-style mineralization with visible gold in sheeted veins and magnetic lows, but Zinger's Gar target is undrilled while Valley has advanced exploration; PJX emphasizes the comparable geological characteristics.
Q: What is the status of Dewdney Trail drilling?
A: An initial 4,000 m program is underway on Sullivan-style critical metals targets, funded by the recent financing, with results pending compilation.
Q: When will drilling results be available?
A: PJX is preparing preliminary Zinger drill holes before winter conditions set in. The company says Dewdney Trail results will be announced after the current drilling phase is completed and the data are compiled; no specific release date has been provided.
Q: What is PJX's land position?
A: The company holds 100% of mineral rights to approximately 750 square kilometers in the Sullivan mining district and Vulcan gold belt.
Q: What is a reduced intrusion-related gold system (RIRGS)?
A: A reduced intrusion-related gold system is a type of gold deposit associated with intrusive igneous rocks, often featuring gold-bearing quartz veins and mineralization around granitic intrusions. Exploration typically uses geological mapping, surface sampling, geophysical surveys, and drilling to evaluate these targets.
Q: What is a Sullivan-style critical metals deposit?
A: A Sullivan-style deposit is a type of sedimentary exhalative (SEDEX) mineral deposit associated with seafloor hydrothermal activity. These deposits can contain zinc, lead, silver, and other metals, and PJX Resources is exploring for this type of mineralization at its Dewdney Trail property in British Columbia.
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Important Disclosures:
- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Snowline Gold Corp.
- Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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1. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
