PJX Resources Completes $6.3m Non-Brokered Private Placement and Commenced Exploration of Critical Metal and Gold Targets in Southeastern British Columbia's Sullivan Mining District
PJX Secures $6.3M to Drill Sullivan-Style Sedex and Gold Targets in BC
PJX Resources Inc. announced the closing of the second tranche of its non-brokered private placement, bringing total gross proceeds to $6.3 million. The first tranche closed on July 6, 2026, raising $3.42 million. The second tranche closed on July 23, 2026, raising $2.88 million.
Securities issued in the second tranche include 8,270,000 Charity Flow-through Units (CFTU) and 8,270,000 Charity Flow-through Critical Metals Units (CFTUCM). Subscription prices range from $0.125 per standard unit to $0.18 per CFTUCM. Finder's fees include $74,725 in cash and 597,800 non-transferable warrants exercisable at $0.20 for 24 months.
Proceeds are allocated to exploration on the Dewdney Trail and Zinger properties, plus general working capital. Flow-through proceeds will be renounced as Canadian exploration expenses by December 31, 2026.
Operationally, PJX has commenced an initial 4,000-meter drill program at the Dewdney Trail Property to test for Sullivan-style Sedex critical metals. Prospecting and surface sampling are underway at the Zinger Property's Gar target ahead of planned RIRGS gold drilling.
PJX Resources Inc. (PJX) publicly announced a financing on June 18, 2026, with a target close around July 15. The company closed the transaction on July 23, executing a previously disclosed capital raise.
The company also commenced a 4,000-meter drill program at Dewdney Trail. This activity aligns with management's stated 2026 exploration strategy and prior guidance.
The transaction is dilutive, adding approximately 16.54 million new units, plus warrants, to the capital structure. The capital is necessary to fund the planned exploration program and extend the cash runway.
No new discoveries, partnerships, or material changes to the project economics are disclosed.
PJX Resources Inc. is an exploration-stage company focused on discovering new deposits within the historic Sullivan Mining District in southeastern British Columbia. The company holds a 100% interest in a 750 km² land package, the largest in the district, which benefits from excellent road, rail, and power infrastructure.
Flagship assets include the Dewdney Trail Property, which targets Sullivan-style Sedex critical metals including zinc, lead, silver, cobalt, and gold, and the Zinger Property, which targets Reduced Intrusion Related Gold Systems. Historical context for the area includes the nearby Sullivan mine, which produced over 297M oz Ag, 8.4M t Pb, and 7.9M t Zn before closing in 2001. PJX's 2025 drilling intersected a ~30m thick "Quake Zone" with pervasive metal enrichment, indicating a large mineralizing system.