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Jaxon Mining (TSXV:JAX, FSE:0U31, OTC:JXMNF) directed its investments towards unexplored and underexplored regions in favorable orogenic settings with its Hazelton property comprising 74 contiguous mineral claims. Hazelton contains a total of seven porphyries, three of which constitute the company's main focus in 2023: Netalzul Mountain, Kispiox Mountain and Red Springs.
Netalzul is a polymetallic epithermal-porphyry system topped by one of the largest and strongest copper, molybdenum and zinc anomalies ever observed in British Columbia. Kispiox Mountain, meanwhile, is home to arguably North America’s and one the world's highest-grade antimony deposits. Similarly, Red Springs contains one of the largest occurrences of mineralized quartz-tourmaline breccia zones and pipes ever discovered in North America.
Jaxon has leveraged the technical discipline and experience of these individuals and the rest of the company’s management team very effectively, while also keeping operations relatively lean. In addition to comprehensive structural and surface mapping and modeling, the company has applied geophysics, geochemistry and extensive sampling to its exploration and discovery efforts. This model- and data-driven approach has more than borne fruit, allowing the company to uncover multiple promising deposits with minimal drilling required.
Company Highlights
- Jaxon Mining is a junior mining company operating primarily in northwest British Columbia and helmed by industry veterans with decades of expertise.
- Jaxon is currently pursuing discoveries in its 100-percent-owned Hazelton land package, which has the potential to provide the company with a major district-scale play.
- Divided into seven owned and connected target areas, Hazelton exists in a comprehensive mining service center with close proximity to a major highway and railroad, energy infrastructure and an airport.
- Copper, antimony, molybdenum, silver and zinc represent the Hazelton Property's primary mineral resources. There is also the potential for significant reserves of gold, lead and tungsten.
- Jaxon expects a copper equivalent grade of 0.7 percent from its projects, significantly higher than the province's average.
- Porphyries in Hazelton are primarily situated above sea level and should be amenable to advanced underground mining techniques.
- In February 2023, the company received $741,890.96 in mineral exploration tax credit from the BC Provincial Government.
This Jaxon Mining profile is part of a paid investor education campaign.*
JAX:CC
Jaxon Mining
Overview
Mineral exploration is an expensive prospect, and as new deposits become deeper, fewer and farther between, it will only grow costlier. Yet mining companies cannot afford to slow down — demand for critical minerals such as copper and antimony is quickly ballooning beyond our global production capacity.
Leadership, therefore, has two options. They can play it safe and exclusively pursue known quantities and pre-existing mines in the hopes that it will be enough. Alternatively, they can direct their investments towards unexplored and underexplored regions in favorable orogenic settings.
Jaxon Mining (TSXV:JAX, FSE:0U31, OTC:JXMNF) went with the second option when it purchased the Hazelton Property. Comprising 74 contiguous mineral claims across an area totaling 730 square kilometers, the property is situated 57 kilometers north of Smithers, in British Columbia's prospective yet underexplored Omenica Mining Division. Hazelton contains a total of seven porphyries, three of which constitute the company's main focus in 2023: Netalzul Mountain, Kispiox Mountain and Red Springs.Netalzul is a polymetallic epithermal-porphyry system topped by one of the largest and strongest copper, molybdenum and zinc anomalies ever observed in British Columbia. Kispiox Mountain, meanwhile, is home to arguably North America’s and one of the world's highest-grade antimony deposits. Similarly, Red Springs contains one of the largest occurrences of mineralized quartz-tourmaline breccia zones and pipes ever discovered in North America.
The company's leadership team includes some of the world's leading experts in mineral exploration and development. Particularly noteworthy are John King Burns, CEO, and Dr. Tony Guo, the company's president and chief geologist.
Burns is a veteran in the mining finance sector, having managed risk and financed projects at every stage of development all around the world. Guo, meanwhile, combines extensive business expertise with a doctorate in geology and is a master explorationist. Between them, they've more than five decades of experience working with both major producers and junior exploration companies.
Jaxon has leveraged the technical discipline and experience of these individuals and the rest of the company’s management team very effectively, while also keeping operations relatively lean. In addition to comprehensive structural and surface mapping and modeling, the company has applied geophysics, geochemistry and extensive sampling to its exploration and discovery efforts. This model- and data-driven approach has more than borne fruit, allowing the company to uncover multiple promising deposits with minimal drilling required.
In addition to highly promising geology, Jaxon’s project locations allow the company to take full advantage of the Canadian government's critical minerals exploration incentives, including the British Columbia Mineral Exploration Tax Credit (BCMETC) and the Federal Critical Mineral Exploration Tax Credit (CMETC).
The BCMETC provides credit equal to 20 percent of qualified mining exploration expenses, with an enhanced rate of 30 percent for operations undertaken in mountain-pine-beetle-affected areas. The CMETC, meanwhile, is a recently introduced 30 percent investment tax credit applicable to eligible flow-through share agreements. It applies to 15 critical minerals, including copper and zinc — making Jaxon eligible to raise funds under the new requirements.Company Highlights
- Jaxon Mining is a junior mining company operating primarily in northwest British Columbia and helmed by industry veterans with decades of expertise.
- Jaxon is currently pursuing discoveries in its 100-percent-owned Hazelton land package, which has the potential to provide the company with a major district-scale play.
- Divided into seven owned and connected target areas, Hazelton exists in a comprehensive mining service center with proximity to a major highway and railroad, energy infrastructure and an airport.
- Copper, antimony, molybdenum, silver and zinc represent the Hazelton Property's primary mineral resources. There is also the potential for significant gold, lead and tungsten reserves.
- Jaxon expects a copper equivalent grade of 0.7 percent from its projects, significantly higher than the province's average.
- Porphyries in Hazelton are primarily situated above sea level and should be amenable to advanced underground mining techniques.
- In February 2023, the company received $741,890.96 in mineral exploration tax credit from the BC Provincial Government.
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Data and Model-driven, District-scale Copper, Antimony, Polymetallic Critical Mineral Play in Northwest British Columbia
What Does the GDX Index Change Mean for Gold Investors?
It’s been a long time coming, but it seems gold-mining stocks are finally responding to record gold prices.
The VanEck Gold Miners ETF (ARCA:GDX), whose holdings include the biggest global gold-mining companies, was up by 103.54 percent year-to-date as of Thursday (September 18).
The GDX has tracked the price and yield performance of the NYSE ARCA Gold Miners Index since its inception in May 2006. That came to an end on Friday (September 19) as it switched to the MarketVector Global Gold Miners index.
What does the GDX index change mean for gold investors?
It may seem counterintuitive for global investment management firm VanEck to make a change to the index for the popular US$20.5 billion GDX, but there are plenty of good reasons.
The switch was planned a few months ago in conjunction with housekeeping that’s a routine component of exchange-traded fund (ETF) management. The move to the MarketVector Global Gold Miners Index is happening at the same time that the firm would normally rebalance the weight of its positions in GDX's underlying securities.
And the move makes sense. Not only is MarketVector a subsidiary of VanEck, but it is based on free-float market-cap-weighted methodology that many major stock indexes now use.
“By focusing only on shares available for public trading, excluding those held by insiders or restricted from the market, this method offers a more accurate reflection of market dynamics than the full-market capitalization method,” explains Investopedia, noting that this approach is used by indexes like the S&P 500 (INDEXSP:.INX).
It seems VanEck is joining the rest of the global financial community, which has transitioned away from full market-cap-weighting methodologies like that used by NYSE ARCA Gold Miners Index.
So what can GDX investors expect from this change?
They probably won’t see much difference right away besides slight adjustments to how some stocks are weighted in the fund, or which stock listing is used for companies with multiple stock listings.
For example, major miner Newmont (TSX:NEM,NYSE:NEM,ASX:NEM) — which is among the ETF’s top five holdings — will be weighted at 6.95 percent from 12.99 percent.
Chart via VanEck.
Over the long term, however, GDX may see a boost in performance, including less volatility and better liquidity, as the dead weight is cut away and the largest companies are no longer concentrated at the top. This could represent a major growth opportunity for GDX investors, especially if this bull run on gold and gold-mining stocks continues.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Lahontan Gold Corp.
Investor Insight
Lahontan Gold is on track to become a leading gold developer in Nevada’s Walker Lane district, presenting a compelling investment opportunity by combining a high-quality resource base with a clear path to production in Nevada’s premier mining jurisdiction — all in a rising gold price environment.
Overview
Lahontan Gold (TSXV:LG,OTCQB:LGCXF) is focused on advancing its portfolio of high-quality gold and silver projects in Nevada. The company’s flagship Santa Fe mine was a past producer that operated from 1988 to 1992, yielding 356,000 ounces of gold and 784,000 ounces of silver. Lahontan aims to unlock the mine’s full potential by expanding its resources and pushing forward on permitting.
The company recently completed a robust preliminary economic assessment (PEA) outlining a clear pathway to production. Permitting efforts are progressing with the Bureau of Land Management, and Lahontan anticipates being in a position to break ground by 2026.
Additionally, strategic drilling campaigns are planned to further expand the existing resource base.
The company's strategy to unlock shareholder value is to advance the Santa Fe mine toward production by derisking the project through permitting and feasibility studies, while optimizing heap leach processing for maximum recoveries and economic efficiency. Concurrently, it is unlocking value from satellite deposits, including West Santa Fe, which has high-grade oxide potential, and Moho, an early-stage project with promising historic gold and silver intercepts.
Positioned as a low-cost developer in a top-tier jurisdiction, the company maintains strong institutional support with minimal dilution risk, ensuring capital efficiency and sustainable growth.
Company Highlights
- Flagship Santa Fe Project: 100 percent owned, past-producing open-pit heap leach mine with an updated resource estimate of 1.54 million ounces indicated and 0.41 million ounces inferred pit constrained resource
- Strategic Nevada Location: Situated in Walker Lane, one of the world’s best mining jurisdictions, with excellent infrastructure, water access, and a mining-friendly regulatory environment.
- Strong Resource Growth Potential: The Santa Fe Mine and its satellite projects, West Santa Fe and Moho, offer exploration upside, with further drilling planned to expand resources.
- Advancing Toward Production: With a positive Preliminary Economic Assessment (PEA) completed in late 2024, Lahontan is aggressively moving toward permitting and development.
- Experienced Leadership: The company is led by an experienced management team with a proven track record in mine development, permitting, and value creation for investors.
Key Projects
Santa Fe Mine
The Santa Fe mine, located in Mineral County, Nevada, spans 26.4 sq km and represents Lahontan Gold’s flagship development project. With an updated mineral resource estimate of 1.95 Moz gold equivalent, the project hosts multiple oxide and sulfide zones that remain open for expansion.
Historical production from the Santa Fe mine yielded 356,000 oz gold and 784,000 oz silver from an open-pit heap leach operation. Modern exploration and metallurgical testing have identified additional high-grade mineralization that could support an expanded operation.
The recently completed PEA indicates strong economic potential, with favorable heap leach recoveries and low operating costs. Lahontan is actively working with the Bureau of Land Management to advance the permitting process, with the goal of achieving production readiness by 2026.
Lahontan has received confirmation from the Bureau of Land Management (BLM) that its Santa Fe Exploration Plan of Operations (POO) is now complete, paving the way for the project to enter the full environmental assessment (EA) under the National Environmental Policy Act (NEPA). The completion marks over two years of baseline studies, including biological, cultural, and historical assessments, and covers more than 12 sq km of the Santa Fe project with provision for over 700 drill sites. With this milestone, Lahontan expects to secure final POO approval in Q4 2025, enabling an expanded and robust drilling campaign in 2026.
West Santa Fe
The West Santa Fe project, situated just 13 km from the Santa Fe mine, is a highly prospective satellite project that could serve as an extension of the main operation. Historic drill data suggest the presence of a shallow oxide deposit, with early resource modeling indicating a potential gold equivalent resource of 0.5 to 1 Moz.
West Santa Fe’s excellent resource growth potential
Lahontan is preparing for an extensive drill program in 2025 to validate and expand this resource. Geophysical surveys and geochemical sampling have identified strong structural controls on mineralization, further supporting the potential for economic extraction. Given its proximity to Santa Fe, West Santa Fe offers a compelling low-cost, high-margin opportunity for future production.
Moho Project
The Moho project is another 100 percent owned asset within the Walker Lane district in Nevada, presenting a longer-term growth opportunity for Lahontan. The project is characterized by historic high-grade gold and silver intercepts from past drilling, with reported grades exceeding 20 g/t gold and 300 g/t silver. Initial exploration has confirmed the presence of oxidized tertiary epithermal vein systems, which are ideal for conventional heap leach processing. Core drilling in 2019 further validated the high-grade nature of Moho’s mineralization, with significant intercepts occurring at relatively shallow depths. Lahontan plans to conduct additional exploration drilling to refine resource estimates and assess potential economic viability.
Management Team
Kimberly Ann – Founder, Executive Chair, President and CEO
Kimberly Ann is a seasoned mining executive who has founded multiple junior mining companies and held senior roles, including CEO, president, CFO, and board member. Over the past 12 years, she has raised more than $210 million in project financing and participated in three junior mining M&A transactions. At Prodigy Gold, she led corporate communications, equity financings, and analyst engagement, playing a key role in the company’s $340 million acquisition by Argonaut Gold. As CFO and VP corporate development at PPX Mining, she successfully advanced the high-grade Callanquitas gold-silver underground mine into production in Northern Peru. In 2017, Kimberly founded Latin America Resource Group, transforming Jasperoide from two small concessions into a 57 sq km copper-gold project in Peru’s most prolific mineralized belt. Following LARG’s 2020 merger with Carube Copper to form C3 Metals, she positioned the company for significant portfolio growth and value creation.
Brian Maher – Founder and Vice-president of Exploration
Brian Maher is an economic geologist with over 45 years of experience in the international mining and exploration industry. Prior to Lahontan, Maher was the president, CEO and director of Prodigy Gold, where he guided the company through a period of expansive growth, exploring and developing the 6.6 Moz Magino gold deposit in northern Ontario, culminating in the $341 million acquisition of Prodigy Gold by Argonaut Gold in 2012. In 1982, he began a 16-year career with ASARCO, exploring for gold and copper deposits in a variety of geologic environments throughout North and South America. From 1998 and 2004, he was project manager for Metallic Ventures Gold, supervising underground and surface exploration, mine development and operations at an underground gold mine in Nevada.
John McNeice – CFO
John McNeice is a chartered professional accountant registered in Ontario, Canada, with over 30 years of experience in public company reporting, financial management, accounting and audit. Currently McNeice is the CFO of Gold79 Mines (TSXV:AUU), C3 Metals (TSXV:CCCM) and Northern Graphite (TSXV:NGC), where he is responsible for financial and regulatory reporting as well as day-to-day financial management. He has held CFO roles in seven public resource companies over the past 17 years and has overseen IPOs, RTOs and many quarterly, annual and periodic public company filings. From 2004 to 2007, McNeice was CFO of Ur-Energy, a uranium exploration and development company now a US-based producer of uranium. During his tenure, Ur-Energy raised an aggregate of $150 million in a series of private placements, the IPO and several significant secondary financings.
Josh Serfass – Independent Director
Josh Serfass is the executive vice-president of corporate development and investor relations at Integra Resources. Previously, he was the manager of corporate communications at Integra Gold. He was a key member of the team at Integra Gold that grew, developed and sold the past producing Lamaque mine in Val-dOr, Québec to Eldorado Gold for C$590 million in 2017. Committed to thinking differently about mining, Serfass worked with the team at Integra Gold to host the 2016 Integra Gold Rush Challenge and the 2017 #DisruptMining Challenge, initiatives that encouraged innovation and technology disruption in the mining industry.
Shane Williams - Independent Director
Shane Williams is president, CEO, and director of West Red Lake Gold Mines, leading the restart of the Madsen Gold Mine. He was previously COO of Skeena Resources, advancing Eskay Creek, and VP of Operations and Capital Projects at Eldorado Gold, where he brought the Lamaque Gold Mine from PEA to production in just 18 months. As project director, he also oversaw Eldorado’s Skouries and Olympias projects with a combined US$1 billion capex, and earlier led development of Sweden’s Kaunis Iron open-pit mine from exploration to operation in 3.5 years. Williams holds a B.Eng. in Electrical Engineering and an M.Sc. in Project Management.
Evan Pelletier - Independent Director
Evan Pelletier is a mining executive with over 30 years of underground mining experience in North America, Mongolia, Argentina, and Africa. He is currently the interim general manager of the Galena Mine with Americas Gold & Silver, and previously served as VP of Mining at Kirkland Lake (2020–2022) and mine manager at the Macassa Mine (2016–2020). At Kirkland Lake, he helped grow the company from $400 million in 2016 to $13 billion in 2022, including oversight of a nearly 2,000-metre shaft with a $450 milliom budget, delivered on time and on budget.
Max Pluss - Independent Director
Max Pluss is an investment professional with experience across hedge funds, private equity, and venture capital. He is the Founder of Rhea Capital Management, backing and incubating mission-driven companies. Previously, he was an analyst at Extract Capital, a hedge fund focused on natural resource investments, and earlier advised public company CEOs on corporate development and market positioning. pluss holds a B.A. from Colorado College and M.B.A. degrees from Columbia University and London Business School.